Gu Ja-gyun, Chairman of LS Industrial Systems, Appointed as New Chairman of Korea Electrical Industry Promotion Association

Koo Ja-kyun, Chairman of LS Industrial Systems

[Asia Economy Reporter Changhwan Lee] Koo Ja-kyun, chairman of LS Industrial Systems, has been appointed as the new chairman of the Korea Electrical Industry Promotion Association.

The Korea Electrical Industry Promotion Association announced on the 25th that it held its 2020 regular general meeting at the Korea Science and Technology Center in Yeoksam-dong, Seoul, and appointed Chairman Koo as the 13th chairman.

Chairman Koo was nominated as a candidate for chairman through the Electrical Industry Development Committee, composed of the association’s executive companies, and the board meeting held on the 11th. His term is three years until February 2023, and he will concurrently serve as chairman of the Korea Electrical Industry Technology Research Association, an affiliated organization of the promotion association.

In his inaugural speech, Chairman Koo stated, "We are currently facing unprecedented uncertainty in the electrical industry environment due to the global spread of COVID-19, prolonged US-China trade disputes, global protectionism, domestic market stagnation, as well as the worldwide energy paradigm shift and the advent of the era of convergence technology." He emphasized, "To actively respond to these trends and achieve greater development, member companies of the promotion association must unite their efforts to find solutions."

To this end, he said, "We will take the lead in creating new growth industries through policy function enhancement such as establishing a policy collaboration platform suitable for the era of energy transition and digital transformation, and by fostering synergy through ecosystem convergence with new industries including energy storage systems (ESS), microgrids, and DC distribution, alongside traditional fields such as transformers, circuit breakers, meters, motors, and measuring instruments."

He continued, "We will construct safe ESS by constructively utilizing the results of the ESS accident investigation team’s activities, and strengthen the role of the integrated council for fostering the ESS ecosystem to enable the ESS business, which has been shrinking, to make a comeback."

Furthermore, he expressed his determination by saying, "To overcome domestic demand limitations and pioneer global markets, we will strengthen external business systems with major demand sources such as the government and Korea Electric Power Corporation to create growth breakthroughs. At the same time, we will actively discover areas for mutual cooperation by establishing a culture of win-win cooperation and shared growth among large, medium, and small enterprises."

Chairman Koo emphasized, "For achieving these goals, the role of the promotion association is more important than ever, and we will ensure that the association’s secretariat becomes a stronger and more mission-driven organization than before."

Chairman Koo graduated from Korea University with a degree in law, earned a master's degree in international business and a doctorate in corporate finance from the University of Texas. He has served as a professor at Kookmin University and Korea University and has been leading LS Industrial Systems since 2005.

This content was produced with the assistance of AI translation services.