Lee Myung-hee and Cho Hyun-min "Support for Cho Won-tae Regime... Regret Over Cho Hyun-ah's Alliance with External Forces" (Update)
"Come Back as a Member of the Family Again"
Former Ilwoo Foundation Chairman Lee Myung-hee, who was prosecuted for illegally employing a Filipino domestic worker, is leaving the courtroom after being sentenced to 1 year and 6 months in prison with a 3-year probation at the first trial held on the 2nd at the Seoul Central District Court in Seocho-gu, Seoul. Photo by Kang Jin-hyung aymsdream@
View original image[Asia Economy Reporter Yoo Je-hoon] Amid the deepening 'Sibling Conflict (Nam-mae-ui Nan)' within Hanjin Group, the major shareholder family members Lee Myung-hee, advisor of Jungseok Enterprise, and Cho Hyun-min, executive director of Hanjin KAL, have expressed support for the eldest son, Chairman Cho Won-tae's leadership.
According to Hanjin Group on the 4th, Advisor Lee and Executive Director Cho stated to the group, "We support the current professional management system of Hanjin Group centered on Chairman Cho. We cannot help but feel regret over the announcement that former Vice President Cho Hyun-ah allied with external forces."
Advisor Lee and Executive Director Cho said, "As major shareholders of Hanjin Group, we uphold the late chairman's will and wish for the group's stability and development," adding, "Although the domestic and international business environment is difficult, we hope the current management will do their best to improve business performance, strengthen the professional management system, and improve financial structure, thereby creating a Hanjin Group that receives support and love from the public, shareholders, customers, and employees."
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Furthermore, Advisor Lee and Executive Director Cho expressed regret over former Vice President Cho forming a tripartite alliance with the private equity fund (PEF) KCGI and Bando Construction to block Chairman Cho's reappointment as CEO of Hanjin KAL, stating, "It is unfortunate," and emphasizing, "We hope she will once again join as a family member to unite efforts for the stability and development of Hanjin Group."
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