https://www.cnbc.com/2018/05/19/reu...-group-chairman-koo-bon-moo-dies--yonhap.html
S.Korea's LG Group chairman Koo Bon-moo dies - Yonhap
Published 2 Hours Ago Reuters
SEOUL, May 20 (Reuters) - Koo Bon-moo, the chairman of South Korea's fourth-largest conglomerate LG Group, passed away on Sunday due to illness, the Yonhap news agency said.
LG Corp, a holding company of the electronics-to-chemicals conglomerate, said on Thursday its longtime 73-year-old chairman was unwell and planned to nominate his son to its board of directors in preparation for a leadership succession. (Reporting By Jane Chung; Editing by Kim Coghill)
by Taboola
MORE FROM CNBC
https://www.reuters.com/article/us-...hairman-koo-bon-moo-dies-yonhap-idUSKCN1IL036
South Korea's LG Group chairman dies from illness at 73
Jane Chung, Ju-min Park
3 Min Read
LG Group chairman Koo Bon-moo is seen in this undated handout photo provided by LG Group on May 20, 2018. LG Group/Handout via REUTERS
LG Group said in a statement Koo, 73, had been ill for a year.
A group official said Koo had been fighting a brain disease and had undergone surgery. The official declined to be named due to the sensitivity of the matter.
“Becoming the third chairman of LG at the age of 50 in 1995, Koo established key three businesses - electronics, chemicals and telecommunications - led a global company LG, and contributed to driving (South Korea’s) industrial competitiveness and national economic development,” LG said.
Under Koo’s leadership, the conglomerate changed its corporate brand to LG from Lucky Goldstar and sold LG’s semiconductor business to Hyundai, now SK Hynix Inc (000660.KS), under government-led restructuring in the wake of the Asia financial crisis in the late 1990s.
Major affiliates are LG Electronics Inc (066570.KS), display maker LG Display (034220.KS) and electric car battery maker LG Chem (051910.KS).
Prior to its chairman’s death, LG Group had established a holding company in order to streamline ownership structure and begin the process of succession.
Slideshow (3 Images)
The country’s powerful family-run conglomerates are implementing generational succession amid growing calls from the government and public to improve transparency and corporate governance.
LG Corp (003550.KS), a holding company of the electronics-to-chemicals conglomerate, said on Thursday its longtime chairman was unwell and planned to nominate his son to its board of directors in preparation for a leadership succession.
Heir apparent Koo Kwang-mo is from the fourth generation of LG Group’s controlling family. He owns 6 percent of LG Corp and works as a senior official at LG Electronics.
SK Hynix Inc87900.0
000660.KSKorea Stock Exchange
+1,200.00(+1.38%)
South Korean prosecutors said this month they raided LG Group’s head office as part of a probe into alleged tax evasion by family members controlling the conglomerate.
Analyst do not see a change at the helm being disruptive to the group’s business.
“Although Koo passed away at a relatively early age, his son has been already in a senior position and I don’t think there will be a big change in governance structure or strategic decisions,” said Park Ju-gun, head of corporate analysis firm CEO Score.
The company said Koo’s funeral would be held privately at the request of the family.
Reporting by Jane Chung and Ju-min Park; Additional reporting by Miyoung Kim and Jeongmin Kim; Editing by Jacqueline Wong
Our Standards:The Thomson Reuters Trust Principles.
https://www.zdnet.com/article/lg-chairman-koo-bon-moo-dies/
LG chairman Koo Bon-moo dies
LG Group chairman Koo Bon-moo, the leader of South Korea's fourth-largest conglomerate, has passed away. He will be remembered for transforming LG to a global technological powerhouse.
By Cho Mu-Hyun | May 20, 2018 -- 02:51 GMT (10:51 GMT+08:00) | Topic: Tech Industry
LG Chairman Koo Bon-moo, 73, was instrumental in turning the conglomerate into a global technology powerhouse.
LG Group chairman Koo Bon-moo, the boss of the South Korean conglomerate which runs LG Electronics and LG Display, died Sunday, the company confirmed.
He passed away peacefully surrounded by family, LG said, after a year-long fight with disease.
He was 73.
Koo was hospitalized earlier from failing health due from brain tumor surgery last year. LG Corp, the parent company of the group, moved to nominate his son and heir Kwoo Kwang-mo as an insider director earlier to prepare for succession.
The elder Koo was the third-generation boss of South Korea's fourth largest conglomerate.
He took over the chairmanship from his father Koo Ja-kyung in 1995. The conglomerate rebranded itself to LG from Lucky Goldstar under his tenure and expanded globally.
The group's revenue rose from 30 trillion won that year to 160 trillion won today -- with 110 trillion won earned abroad.
He was behind the firm's investment in to Liquid Crystal Display (LCD) and lithium-ion batteries. LG Display today is a leading player in LCD and OLED panels. LG Chem is one the largest suppliers of electric car batteries today.
During his tenure, LG also entered the telco industry and formed subsidiary LG Uplus that is a leader in LTE.
He stressed the important of research and development and the need to take the long view in development.
S.Korea's LG Group chairman Koo Bon-moo dies - Yonhap
Published 2 Hours Ago Reuters
SEOUL, May 20 (Reuters) - Koo Bon-moo, the chairman of South Korea's fourth-largest conglomerate LG Group, passed away on Sunday due to illness, the Yonhap news agency said.
LG Corp, a holding company of the electronics-to-chemicals conglomerate, said on Thursday its longtime 73-year-old chairman was unwell and planned to nominate his son to its board of directors in preparation for a leadership succession. (Reporting By Jane Chung; Editing by Kim Coghill)
by Taboola
MORE FROM CNBC
https://www.reuters.com/article/us-...hairman-koo-bon-moo-dies-yonhap-idUSKCN1IL036
South Korea's LG Group chairman dies from illness at 73
Jane Chung, Ju-min Park
3 Min Read
LG Group chairman Koo Bon-moo is seen in this undated handout photo provided by LG Group on May 20, 2018. LG Group/Handout via REUTERS
LG Group said in a statement Koo, 73, had been ill for a year.
A group official said Koo had been fighting a brain disease and had undergone surgery. The official declined to be named due to the sensitivity of the matter.
“Becoming the third chairman of LG at the age of 50 in 1995, Koo established key three businesses - electronics, chemicals and telecommunications - led a global company LG, and contributed to driving (South Korea’s) industrial competitiveness and national economic development,” LG said.
Under Koo’s leadership, the conglomerate changed its corporate brand to LG from Lucky Goldstar and sold LG’s semiconductor business to Hyundai, now SK Hynix Inc (000660.KS), under government-led restructuring in the wake of the Asia financial crisis in the late 1990s.
Major affiliates are LG Electronics Inc (066570.KS), display maker LG Display (034220.KS) and electric car battery maker LG Chem (051910.KS).
Prior to its chairman’s death, LG Group had established a holding company in order to streamline ownership structure and begin the process of succession.
Slideshow (3 Images)
The country’s powerful family-run conglomerates are implementing generational succession amid growing calls from the government and public to improve transparency and corporate governance.
LG Corp (003550.KS), a holding company of the electronics-to-chemicals conglomerate, said on Thursday its longtime chairman was unwell and planned to nominate his son to its board of directors in preparation for a leadership succession.
Heir apparent Koo Kwang-mo is from the fourth generation of LG Group’s controlling family. He owns 6 percent of LG Corp and works as a senior official at LG Electronics.
SK Hynix Inc87900.0
000660.KSKorea Stock Exchange
+1,200.00(+1.38%)
- 000660.KS
- 066570.KS
- 034220.KS
- 051910.KS
- 003550.KS
South Korean prosecutors said this month they raided LG Group’s head office as part of a probe into alleged tax evasion by family members controlling the conglomerate.
Analyst do not see a change at the helm being disruptive to the group’s business.
“Although Koo passed away at a relatively early age, his son has been already in a senior position and I don’t think there will be a big change in governance structure or strategic decisions,” said Park Ju-gun, head of corporate analysis firm CEO Score.
The company said Koo’s funeral would be held privately at the request of the family.
Reporting by Jane Chung and Ju-min Park; Additional reporting by Miyoung Kim and Jeongmin Kim; Editing by Jacqueline Wong
Our Standards:The Thomson Reuters Trust Principles.
https://www.zdnet.com/article/lg-chairman-koo-bon-moo-dies/
LG chairman Koo Bon-moo dies
LG Group chairman Koo Bon-moo, the leader of South Korea's fourth-largest conglomerate, has passed away. He will be remembered for transforming LG to a global technological powerhouse.
By Cho Mu-Hyun | May 20, 2018 -- 02:51 GMT (10:51 GMT+08:00) | Topic: Tech Industry
- 0
- 10
LG Chairman Koo Bon-moo, 73, was instrumental in turning the conglomerate into a global technology powerhouse.
LG Group chairman Koo Bon-moo, the boss of the South Korean conglomerate which runs LG Electronics and LG Display, died Sunday, the company confirmed.
He passed away peacefully surrounded by family, LG said, after a year-long fight with disease.
He was 73.
Koo was hospitalized earlier from failing health due from brain tumor surgery last year. LG Corp, the parent company of the group, moved to nominate his son and heir Kwoo Kwang-mo as an insider director earlier to prepare for succession.
The elder Koo was the third-generation boss of South Korea's fourth largest conglomerate.
He took over the chairmanship from his father Koo Ja-kyung in 1995. The conglomerate rebranded itself to LG from Lucky Goldstar under his tenure and expanded globally.
The group's revenue rose from 30 trillion won that year to 160 trillion won today -- with 110 trillion won earned abroad.
He was behind the firm's investment in to Liquid Crystal Display (LCD) and lithium-ion batteries. LG Display today is a leading player in LCD and OLED panels. LG Chem is one the largest suppliers of electric car batteries today.
During his tenure, LG also entered the telco industry and formed subsidiary LG Uplus that is a leader in LTE.
He stressed the important of research and development and the need to take the long view in development.
