Trade Association Appoints Koo Ja-yeol, Chairman of LS Group, as Next President

Gu Ja-yeol, Chairman of LS Group, appointed as the next Chairman of the Korea International Trade Association

[Asia Economy Reporter Jeong Hyunjin] Gu Ja-yeol, chairman of LS Group, has been nominated as the 31st next president of the Korea International Trade Association (KITA).

The KITA presidential board held a meeting on the 19th at the Trade Center in Samseong-dong, Seoul, and unanimously decided to endorse Chairman Gu as the next president of KITA. Chairman Gu is scheduled to be officially appointed as the 31st president after a resolution at the KITA regular general meeting on the 24th of this month. His term will last for three years, until the 2024 regular general meeting.

Chairman Gu graduated from Seoul High School and Korea University with a degree in Business Administration, and completed studies at London Business School. He joined Lucky-Goldstar Trading (now LG International) as a regular employee in 1978, gaining 15 years of experience in global trade sites. In 1995, he worked as the head of the international division at LG Securities (now NH Investment & Securities), building his career as a trade and finance expert in the international field. In the public sector, he has contributed to government policy formulation and industrial revitalization through roles such as co-chairman of the National Intellectual Property Committee and president of the Korea Invention Promotion Association.

The presidential board meeting was attended by 21 members including KITA Chairman Kim Young-joo, Joo Jin-woo Chairman of Sajo Group, Han Jun-ho Chairman of Samchully, Gu Ja-yong Chairman of E1, Lee Min-jae Chairman of Emson, Oh Seok-song Chairman of MetaBioMed, Lee Hwi-ryeong Vice Chairman of SeAH Steel, Hwang Cheol-joo Chairman of Joosung Engineering, and Han Jin-hyun Executive Vice Chairman.

Chairman Kim Young-joo said, "In an uncertain trade environment due to COVID-19, it seems best to endorse a business leader with experience and capability for the industry that requires agile response," recommending Gu Ja-yeol, chairman of LS Group, as the next president. Accordingly, the presidential board unanimously decided to endorse Gu Ja-yeol as the next president of KITA.

At the meeting, Chairman Oh Seok-song said, "Chairman Gu is a person with abundant knowledge and experience of the real economy to help our industry respond to the rapidly changing external environment," adding, "Since leading LS Group from 2013, he has improved the business structure from domestic to export-oriented, growing it to the 16th largest conglomerate, and we expect his leadership to effectively resolve the current issues facing the trade industry." Chairman Hwang Cheol-joo explained the endorsement background, saying, "Chairman Gu has long emphasized digital innovation and strengthening corporate structure, leading changes in the trade field," and "Based on his diverse public sector activities and field experience, he will excellently serve as a bridge between the public and private sectors to reflect the trade industry's difficulties in government policies."

Meanwhile, the meeting attendees also expressed their gratitude to Chairman Kim Young-joo for his dedication to leading KITA over the past three years to promote trade. Chairman Kim achieved accomplishments such as resolving trade industry difficulties, supporting COVID-19 response, strengthening cooperation for Korean companies’ advancement into New Southern and New Northern markets, and establishing an innovation ecosystem foundation among startups, mid-sized, and large companies. In particular, he significantly contributed to enhancing KITA’s status over the past three years by presenting a differentiated public-private cooperation model to address trade field difficulties and global trade issues during the COVID-19 era.

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