‘`Perseverant entrepreneur` LG chairman Koo Bon-moo passed away

[Digital Times, Kim Eun] He was a business executive, a writer, a persistent leader, a decision-maker, and a businessman who loved baseball. It is a modifier to go to Chairman Koo Bon-moo of LG, who has been running LG`s third-generation total vertical after 23 years, following his former chairman of the LG founder, Koo In-hoe, and honorary chairman.

Koo Bon-moo attended Yonsei University and went to the United States and majored in business administration at Ashland University and Cleveland State University. He then joined Lucky in 1975 and began his career in business. Since then, he has worked in various positions such as manager, director, director, vice president, etc., and has worked on sales, examination, export and planning of major companies in the group such as Lucky and Geumseong`s planning and coordination room.

He has served as Executive Vice President and Executive Vice President at the Group Planning and Coordination Office since 1985, where he has had the opportunity to learn about the overall management of group management. In 1989, he was appointed vice chairman of the Federation of Korean Industries, strengthening networking with key people at home and abroad, and discussing economic and management issues and listening to opinions. He was succeeded as chairman of the group for 20 years in 1995.

OLED (organic light emitting diode), energy and bio, while fostering three core business lines including electronics, chemicals and telecommunication services after taking over as Chairman of LG, Koo has actively advanced into new growth businesses such as automobile parts. LG has continued its aggressive management efforts to become a global company. As a management philosophy, LG Electronics has adopted the management philosophy of management, value creation, prestige, and challenge and market leadership. He was LG Group`s and the second management innovation as a chairman of the Group Technology Advisory Committee and Overseas Business Promotion Committee.

Chairman Koo presented LG Brand, but in 2005, he declared `LG Way` in 2005 and tried to fix LG`s corporate culture. The LG Way emphasized by Chairman Koo is to achieve management philosophy with degree management. The ultimate goal is to be the `1st LG` and `Market Leader`. `1 st LG` means to be a company that trusts consumers, attracts investors, and wants to learn while their competitors are afraid. Even if GS, LS, LIG, LF, etc. were separated, the sales grew more than five times to 160 trillion won last year from 30 trillion won at the end of 1994. Overseas sales grew more than 10 times to KRW 110 trillion from KRW 10 trillion.

LG Display`s large OLED business and LG Chem`s rechargeable battery business led the world in the first place in the worst of the worst, and the mobile telecom LTE investment, which would take at least three years, ended in nine months, It is based on perseverance and decisiveness.

The opposition has also played a major role in transforming corporate culture, such as changing the name of Lucky Venus from `LG` to a holding company structure. Recently, the company invested KRW 4 trillion in the Magog Industrial Complex in Gangseo-gu, Seoul, and opened a new chapter in cutting-edge research and development (R & D) that will lead the future of LG by establishing LG Science Park, Korea`s largest fusion research complex.

He entered the business of information display (ID) business of LG Kwangmo LG Electronics, the only son of Kwon, after he lost his son in a traffic accident after he left his son and two daughters in a car accident.

By Kim Eun silverkim@


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