by Ryu Hyunseok
Published 05 Apr.2022 18:31(KST)
Updated 05 Apr.2022 18:51(KST)
[Asia Economy Reporter Yoo Hyun-seok] Cho Hee-kyung, chairman of the Korea Tire Sharing Foundation, filed an appeal against the court's dismissal of the petition to commence limited guardianship for her father, Cho Yang-rae, honorary chairman of Hankook & Company.
According to related industries on the 5th, Cho, the eldest daughter of honorary chairman Cho, submitted an appeal to the Seoul Family Court stating, "I disagree with the dismissal decision of the petition to commence limited guardianship issued on the 1st."
Cho's legal representative explained, "It is unprecedented and unacceptable that the court dismissed the guardianship petition without conducting an evaluation, despite the appraisal agency determining that hospitalization evaluation was necessary," adding, "It is a biased and irrational decision by the court."
Earlier, on the 1st, Judge Lee Kwang-woo of the Seoul Family Court Family Division 50 dismissed the petition for limited guardianship filed by Cho against her father.
In June 2020, Cho sold all shares of Hankook & Company, the holding company of Hankook Tire & Technology (Hankook Tire), to her younger brother Cho Hyun-beom, then president, through a block deal. She filed for adult guardianship, stating, "It must be determined whether my father's decision was made voluntarily and with a sound mind."
Adult guardianship is a system that appoints a guardian to assist adults who have difficulty making decisions due to old age, disability, or illness.
With the dismissal of the petition filed by Cho after one year and nine months, the industry analyzed that the management dispute among honorary chairman Cho's children has come to an end.
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