[비즈한국] It has been confirmed that Cho Hyun-sang (55), Vice Chairman of HS Hyosung, is the largest shareholder of Daehwa Livestock, holding an 80% stake. Daehwa Livestock is a livestock company located in Pyeongchang-gun, Gangwon State, established in 1996. Although Vice Chairman Cho Hyun-sang, a conglomerate owner, is the largest shareholder, the company is not widely known in the business world. Meanwhile, in 2024, Vice Chairman Cho Hyun-sang launched independent management of the HS Hyosung Group by grouping together several Hyosung Group affiliates. The HS Hyosung Group operates businesses in textiles, IT, and automotive industries, and has no significant connection to the livestock industry. Vice Chairman Cho Hyun-sang is the third son of the late Hyosung Group Honorary Chairman Cho Suck-rai and the younger brother of Hyosung Group Chairman Cho Hyun-joon.
Since its establishment, Daehwa Livestock has been led by Jung Geun-mo until 2009, and by Choi Hyun-tae since 2009. Both individuals are former executives of the Hyosung Group. Former CEO Jung Geun-mo served as a managing director of business development at Hyosung, and CEO Choi Hyun-tae served as a managing director at Hyosung and also held roles as CEO of Shindongjin and Trinity Asset Management. The largest shareholder of Shindongjin is Vice Chairman Cho Hyun-sang (80% stake), and the largest shareholder of Trinity Asset Management is Hyosung Group Chairman Cho Hyun-joon (58) (80% stake). In addition, Kwak Sang-young, who served as an executive at Shindongjin and Trinity Asset Management, is also listed as an internal director of Daehwa Livestock.
As such, the management of Daehwa Livestock includes several individuals associated with the Hyosung Group or the HS Hyosung Group. Despite this, little is known about Daehwa Livestock in the business community. There are no publicly confirmed equity investments or business links between Hyosung Group or HS Hyosung Group affiliates and Daehwa Livestock. Since its inception, the Hyosung Group has never been involved in any livestock-related business. Of course, it is possible that this is a personal business venture by Vice Chairman Cho Hyun-sang, separate from the Hyosung or HS Hyosung groups. However, Vice Chairman Cho Hyun-sang has never been listed as a registered director of Daehwa Livestock.
While it is now confirmed that Vice Chairman Cho Hyun-sang is the largest shareholder of Daehwa Livestock, it has not been disclosed whether he founded the company himself or acquired the stake later. However, given that Hyosung Group executives have held management positions since the company's inception, it appears unlikely that it was established by individuals unaffiliated with the Hyosung Group.
As Daehwa Livestock is not subject to external audits, its exact revenue has not been disclosed. This implies that the company is not large enough to require an external audit. Companies with total assets or annual revenue of 50 billion won or more are subject to audit. Even if assets or revenue fall below 50 billion won, a company is subject to audit if it meets two or more of the following criteria: △Total assets of 12 billion won or more, △Total liabilities of 7 billion won or more, △Revenue of 10 billion won or more, or △100 or more employees.
Current assessments suggest that the possibility of Vice Chairman Cho Hyun-sang actively investing in Daehwa Livestock is low. The livestock industry is not a field of expertise for the HS Hyosung Group, nor is it a sector that would offer synergy with existing HS Hyosung affiliates. Furthermore, the livestock market is not experiencing growth. According to data released by the Korea Rural Economic Institute in January this year, the domestic livestock production value is projected to decrease slightly from 25.5305 trillion won in 2025 to 25.3935 trillion won in 2026.
Daehwa Livestock has a major conglomerate owner as its largest shareholder and a history spanning several decades, yet it remains strangely inconspicuous. Bizhankook reached out to the HS Hyosung Group regarding this matter, but the only response received was that they were unaware of Daehwa Livestock.