Cho Hyun-moon, former vice president of Hyosung Corporation, who is the estranged second son of the group's founding family, has promised to donate his entire inheritance from his late father to society.

In a meeting with local media outlets on Friday, Cho announced his plan to establish a public interest foundation with the inheritance left to him by his late father and group honorary chairman Cho Suck-rai, who passed away in March.

Hoping to set a precedent, Cho said he will use his inheritance for the benefit of the country and society, adding that he believes his co-heirs, an apparent reference to his estranged brothers, will cooperate in the foundation's establishment.

In his will, the late honorary chairman urged his three sons to reconcile, and left his second son an inheritance exceeding the legally reserved minimum.

Cho also expressed a wish to end the conflict with his brothers and reconcile, stressing that he wants to be completely separated from the conglomerate. He asked for his brothers and the group's cooperation as he seeks to liquidate his holdings in line with the Fair Trade Act.

In 2014, Cho accused his older brother and Group Chairman Cho Hyun-joon and other key executives of embezzlement and breach of trust, which was followed by the older brother's counter suit over alleged blackmail in 2017.