2nd Anniversary of Former LG Chairman Koo Bon-moo's Passing... Online Memorial Space Established

[Asia Economy Reporter Dongwoo Lee] On the 20th, marking the 2nd anniversary of the passing of the late Koo Bon-moo, former chairman of LG Group, LG Group employees commemorated him by watching a video on the company’s internal bulletin board.

According to LG Group, last year on the 1st anniversary of Chairman Koo’s passing, a memorial ceremony was held with about 400 employees including Chairman Koo Kwang-mo attending, but this year the ceremony was replaced with a video showing the late chairman’s life. An LG official explained, "In line with the late chairman’s philosophy of avoiding formalities and living simply, the memorial was kept modest and replaced with a video without any special events."

The 3-minute memorial video highlighted the late chairman’s leadership in building core business sectors such as electronics, chemicals, and telecommunications services since his inauguration in 1995, the transition to Korea’s first holding company system, and the proclamation of the ‘LG Way’ to shape LG.

It also included content about producing the world’s only large OLED panels with perseverance and determination, developing automotive batteries into a global leading business, as well as ‘R&D management’ and LG’s ‘customer value.’

Chairman Koo joined LG Chem in 1975 and took over the group’s management rights 20 years later in 1995, becoming chairman. At the time of his inauguration, LG Group’s sales were only 30 trillion won, but during his tenure, sales grew to 160 trillion won and assets to 130 trillion won, making it the 4th largest conglomerate in Korea.

The late chairman, grandson of LG Group founder Koo In-hwoi and eldest son of honorary chairman Koo Ja-kyung, passed away on May 20, 2018, at the age of 73 due to illness.

Following Chairman Koo, Koo Kwang-mo became CEO of the holding company LG Corporation on June 29, 2018, and officially assumed the position of group head last May.

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