Gu Jahong, Founding Chairman of LS Group, Passes Away at 76 (Update)

Koo Ja-hong, Chairman of LS Nikko Copper Inc.

[Asia Economy Reporter Lee Hye-young] Gu Ja-hong, chairman of LS Nikko Copper Inc., passed away on the 11th at the age of 76.

Gu Ja-hong, the founding chairman of LS Group, served as chairman for nine years from 2004 to 2012, and on January 1, 2013, he handed over the chairmanship to his cousin Gu Ja-yeol (68), the current chairman and eldest son of the late Gu Pyeong-hoe, honorary chairman. LS Group follows a 'cousin management' principle, transferring management rights every ten years.

After stepping down as chairman at that time, Gu Ja-hong moved to become chairman of LS Miraewon, the group's training center, and since 2015, he has served as chairman of LS Nikko Copper Inc.

Born on December 11, 1946, in Jinju, Gyeongnam, he graduated from Gyeonggi High School in 1965, attended Korea University majoring in Education, then went to the United States for studies, graduating from Princeton University with a degree in Economics in March 1973.

LS Group currently has over 50 affiliates. Major affiliates include LS Cable & System, ranked third in the global cable industry; LS Electric, a smart energy company specializing in power, automation, microgrids, and solar energy; LS Nikko Copper Inc., a smelting company; and E1, which operates in the LPG business.

An LS Group official stated, "We understand that Chairman Gu passed away around 8 a.m. this morning in Sukhan, and we are currently investigating the details." LS Group is expected to release an official statement soon.

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