Honorary Chairman Cho Seok-rae of South Korean conglomerate Hyosung Group was awarded the 2022 14th YoungSan Diplomat Award on Tuesday for leading economic cooperation between South Korea, Japan and China.

The nonprofit Seoul Forum for International Affairs presents the YoungSan Diplomat Award each year to individuals who have contributed in improving Korea’s image and national interests on the international stage.

“As a leader of the business sector and a graduate of engineering, honorary Chairman Cho helped lay the foundations in transforming Korea into an economic powerhouse,” explained SFIA officials.

Cho’s role in developing the US-Korea Free Trade Agreement, enrolling Korea into the US’ Visa Waiver Program and fostering technology exchange between Korea and Japan was emphasized at the awards ceremony.

Hyosung Group, previously led by Cho, was the first firm to suggest a US-Korea trade deal back in 2000, according to the company.

“The fact that everyone’s collective efforts have made South Korea a top 10 world economy makes me emotional,” Cho said in his acceptance speech. “I hope South Korea will continue to develop and become the No. 1 country that is respected by the world.”

Cho led the textile giant from 1982 until passing the baton to his eldest son, Cho Hyun-joon, in 2016.

By Lee Seung-ku (seungku99@heraldcorp.com)