South Korea’s LG Group chairman dies at 73

By: | Published: May 20, 2018 10:21 AM

Koo reportedly requested his adopted son, Koo Kwang-mo, succeed him to lead the family-controlled conglomerate.

south korea, LG group, chairman death, LG chairman deathThe chairman of South Korean conglomerate LG Group has died, company officials said today. (Reuters)

The chairman of South Korean conglomerate LG Group has died, company officials said today. He was 73. Koo Bon-moo is credited with expanding the business empire — centred around consumer electronics, displays and chemicals — founded by his grandfather in 1947.

During Koo’s more than 20 years as top executive, sales increased dramatically, with LG Group posting 160 trillion won (US$148 billion) in sales last year, up from around 30 trillion won in 1994. The entrepreneur was hospitalised last week after earlier undergoing brain surgery, but rejected life-prolonging treatments, Yonhap news agency cited company officials as saying.

Koo reportedly requested his adopted son, Koo Kwang-mo, succeed him to lead the family-controlled conglomerate. The 40-year-old is the eldest son of Koo’s younger brother but was adopted by the entrepreneur in 2004 after he lost his own son in a car accident in the 1990s.

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