Koo Ja-hong

By Lee Kyung-min

Former LS Group Chairman Koo Ja-hong has died at the age of 77, the group said Friday.

The LS-Nikko Copper Chairman served as the chairman of LS Group, a spinoff from LG Group, from 2004 to 2012, during which time the conglomerate fostered electric wire and electronic parts making businesses as well as copper smelting and refining operations, backed further by mergers and acquisitions (M&As), research and development (R&D) and overseas expansions.

He stepped down as group chairman in 2012 to pave the way for his cousin, Koo Ja-yeol, the current chairman of Korea International Trade Association, to succeed him.

Upon graduating from Gyeonggi High School and Princeton University in the U.S., he began his professional career at an affiliate of the now-defunct LG Group in 1973. He had since worked in the import department until 1995 when he became CEO and chairman of LG Electronics.

The electronics affiliate under his leadership thrived, helping the firm weather the 1997 Asian financial crisis and cement itself as a leader in the home appliance and digital device manufacturing businesses through the early 2000s.