Koo Bon-moo, who chaired LG Group for the past 23 years, has died of complications from a brain tumor. He was 73 years old.
Koo got his start working for the family fortune in 1975, back when chemical company Lucky Corp. and consumer electronics manufacturer Gold Star were still separate entities. After working in various positions for several years, he was promoted to vice chairman of the family conglomerate. He would eventually take over the chairman position from his retiring father in 1995.
The chairman was credited with combining the businesses under the LG brand and took the opportunity to look into different industries — LG Display was a major producer of LCD products and has seen strong investments into its fledgling OLED operations with Koo’s support. He also started domestic wireless carrier LG Uplus, now one of the big three in South Korea. His last major milestone was the opening of the new LG Science Park campus on the west side of Seoul — it is there that the company has created a dedicated software upgrade division for its Android phones.
The Korean Herald reports that his son, Koo Kwang-mo, who he adopted from his brother, is likely to become the next chairman of LG.