The authenticity of the testament of the late Hyosung Group Honorary Chairman Cho Suck-rai, disclosed abruptly on Wednesday, was questioned a day later by his second-oldest son. The group’s honorary chairman, who died in March, reportedly asked his sons to end their decade-long feud.In a statement from his attorney, former Hyosung Vice President Cho Hyun-moon said that it is difficult for him to accept the testament at this moment, as it remains uncertain about how the document was written and disclosed.“I need a significant amount of time to review the testament,” he said. “It is difficult for me to clarify my stance at this moment.”He issued the statement a day after local news outlets reported on Wednesday that his father had written the testament last year with a major law firm’s lawyer.
The late honorary chairman is said to have wanted to give his second-oldest son a portion of his properties, including his shares in Hyosung Group affiliates, although the son disowned the father 10 years ago after losing to his older brother in a competition for the group’s control.The size of the inheritance to the second-oldest son is reportedly bigger than the legal reserve of inheritance, which is equivalent to 11.1 percent of the deceased’s wealth in this case. Legal reserve of inheritance refers to a minimum portion of inheritance that bereaved family members can ask for, if they are excluded from a testator’s will.However, the size is still not enough for the second-oldest son to threaten the management rights held by his older brother, Hyosung Group Chairman Cho Hyun-joon, and his younger brother, Vice Chairman Cho Hyun-sang.The late Cho held a 10.14 percent stake in Hyosung Corp., while each of his oldest and youngest sons owns over 21 percent stake in the group’s holding firm. His second-oldest son previously sold all of his shares in Hyosung 슬롯게이밍 affiliates.