Award recognizes Cho's contributions to Korea-US free trade, closer bilateral ties
S.R. Cho, the late honorary chairman of Hyosung Group, has been posthumously awarded the 24th Korea-America Friendship Award for his contributions to economic cooperation and stronger ties between South Korea and the US.
Presented annually by the Korea-America Association since 2002, the award recognizes individuals who have made significant contributions to relations between the two countries. Cho was recognized for his decades of efforts to promote economic exchanges, particularly, his role in advancing the Korea-US free trade agreement and facilitating Korea's entry into the US visa waiver program.
Cho, who died in 2024, was a prominent advocate of international economic cooperation. Fluent in several foreign languages, including English and Japanese, he leveraged extensive overseas business experience and global networks to promote Korean business interests.
He served as chairman of the Pacific Basin Economic Council in 2002 and later led several major economic exchange organizations, including the Federation of Korean Industries, the Korea-US Business Council, the Korea-Japan Economic Association and the Korea-Japan Forum. Through these roles, he worked to expand Korea's economic ties with international partners.
Cho also played a key role in laying the groundwork for the Korea-US free trade agreement. In 2000, Cho, as the Korean chair of the Korea-US Business Council, publicly called for a bilateral free trade agreement, becoming the first Korean business leader to propose the FTA. He argued that trade liberalization was necessary for the country's economic globalization.
He subsequently led joint research initiatives involving business communities in both countries, helping create conditions for formal negotiations, which began in 2006.
Throughout the negotiations, Cho met with government officials, lawmakers and business leaders on both sides to build support for the agreement. He also worked to bridge differences over contentious issues, including Korea's reduction of screen quotas, which faced strong opposition from the domestic film industry.
After the agreement was reached in 2007, Cho traveled to Washington to urge US lawmakers to ratify it.
He also contributed to Korea's inclusion in the US visa waiver program in 2008. He sent a letter directly to the US secretary of state requesting the country's inclusion and established a visa subcommittee within the Korea-US Business Council. He argued that closer bilateral ties required not only the free movement of goods but also easier travel between the two countries.
Cho received several honors for his contributions, including the Order of Industrial Service Merit, Gold Tower, in 1987, an award marking the 10th anniversary of the Korea-US FTA, and the Yeongsan Diplomatic Award.
Hyosung Chairman Cho Hyun-joon accepted the award on behalf of his late father. He noted that his maternal grandfather, Song In-sang, had served as the second chairman of the Korea-America Association for many years and received the same award in 2004.
Cho Hyun-joon said he was grateful that his father had been recognized and pledged to carry forward his vision of an alliance built on mutual understanding and shared growth, ensuring that ties between the two countries remain strong for future generations.
Around 300 guests, including US Ambassador to South Korea Michelle Steel and members of the association, attended this year's ceremony.
jyoungseon8@heraldcorp.com
