[The Editors' Verdict] Will We Only Watch What the Owner Families Say in Their Feuds?

Over the past decade, sibling rivalries within South Korea's chaebol families have frequently erupted. Disputes over shares and management rights occurred within the Hyosung, Lotte, and Kumho Group owner families. Going further back, conflicts arose in the early 2000s within the Hyundai family, and in 2007, although not between siblings but in-laws, there was a dispute between Hanwha and Daelim (now DL) affiliates. Each time such conflicts broke out, the media labeled them as "Sibling Wars." Some ended with one side's victory, while others resulted in the separation of affiliates to form distinct corporate groups. Rarely, the "Sibling War" extended to the next generation, evolving into a "Nephew War."

The recent attention to the "Sibling War" stems from the renewed conflict within the Hyosung family. On the 3rd of this month, the first trial was held at the Seoul Central District Court with Cho Hyun-moon, the second son of the Hyosung family and former vice president of Hyosung, in attendance. After resigning in 2013, in July 2014, he filed complaints alleging embezzlement and breach of trust against his older brother, Cho Hyun-joon, chairman of Hyosung, and key executives. The Cho chairman's side counter-sued in 2017, claiming they were being threatened. Last November, the prosecution decided to indict Cho Hyun-moon without detention on charges of attempted coercion against Chairman Cho and their father, honorary chairman Cho Seok-rae. According to the indictment, he is accused of coercing honorary chairman Cho to distribute a press release stating that he "greatly contributed to profit generation in Hyosung's heavy industries division," and threatening Chairman Cho, along with a former PR agency representative, to demand an apology regarding slanderous rumors about his spouse, warning that refusal would lead to prosecution.

Upon attending the trial, Cho Hyun-moon briefly stated, "Chairman Cho and Hyosung have slandered and persecuted me for over ten years to cover up their corruption and wrongdoing. This lawsuit is retaliation against me," adding, "I only said we should not commit crimes, but I don't know if that is considered a crime." The media focused on his remarks.

Looking back, the media's approach to covering "Sibling Wars" within major groups has largely remained centered on the confrontation between the parties involved. While the media's preference for conflict as a subject is understandable, there is a persistent tendency to become overly absorbed in the statements and every move of the individuals involved. After the Lotte "Sibling War," one broadcaster even criticized the excessive focus on the sibling rivalry in the flood of media reports.

Focusing solely on the individuals in family conflicts within groups is insufficient because of the significant impact on the national economy. Stock prices and investments change immediately. In Lotte's case, stock prices rose on expectations of increased dividends due to securing friendly shares, and during the Hanwha-Daelim joint affiliate conflict, the stock price of one parent company plummeted shortly after a senior executive of the opposing company mentioned the possibility of purchasing shares. While reporting the progress of disputes is important, efforts to assess their economic repercussions are also necessary. An insider related to the recent trial of Cho Hyun-moon expressed concern, saying, "The ripple effects could be considerable, not only for Hyosung as a whole but also for public opinion."

Conflicts and disputes are always attention-grabbing topics. Especially in the fiercely competitive online news environment, it is difficult to resist such temptations. However, for the healthy development of the media, it is time to also consider how to handle conflicts within owner families.

This content was produced with the assistance of AI translation services.