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Koo In-hwoi (Korean: 구인회; Hanja: 具仁會, 26 August 1906 – 31 December 1969) was a South Korean businessman and the founder of LG Group, one of the largest chaebols in South Korea. Life
- Thebackstory of LG Foundation
- Formationof Lg- Top South Korean Company
- Kooin-Hwoi – Founder of LG
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South Korean businessman and entrepreneur Koo in-Hwoifounded LG 73 years back on5 January 1947. However, the story behind the formation of the LG group is interesting to know. The idea born when relative Huh Man-Jung visited him. The son of relative was just returned after studying in Japan and wanted to learn business tactics. So, Huh asked Koo in...
Initially, he started a plastic plan in Busan. It was a manufacturing unit of a plastic hairbrush. That time, it became a huge hit in the Korean market. After that, the company started manufacturing toothbrushes and washbowls. In 1958, Koo In-Hwoi expanded the production unit of Goldstar. The company manufactured the first homemade radio in Korea. ...
EarlyLife and career
Hewas born on 27 August 1906 at the Korean Empire. In 1924, hecompleted secondary education at Seoul’s Central Normal HigherSchool. However, he started the business just after his secondaryeducation. After returning to their hometown, he served as the headof the business corporative union of his village in 1926. Next year,he joined the Dong-A Ilbo newspaper, where he served as the head.
Firstbusiness
Heentered the business world in 1931. At the start, he started a storein Jinju, South Gyeongsang. However, his younger brother Koo Chul-whowas his partner. But they had to suffer huge losses. After that, hetook a loan and continued with businesses. Finally, soon he found theopportunity to set business successfully.
Otherachievements
Apartfrom businesses, with the help of independence fighter, hecontributed to the Korean provisional government in Shanghai. Hefollowed the path of his father who had done the same a decadeearlier. However, his contribution helped him to build a network withseveral government authorities. Apparently, LG became the firstKorean company to receive trade approval from the U.S. Army MinistryGovernment in Korea.
Learn about the life and career of Koo In-Hwoi, the South Korean entrepreneur who founded LG in 1947. Discover how he started from a cosmetics business and expanded to electronics, telecom, and other fields.
Chairman In-hwoi Koo initially named his company "Lucky" (which sounds like "Lak Hui," meaning giving joy to all) after the huge success of "Lucky Cream," Korea's first makeup cream. It was here that LG's first hit product became the company's name. The "Lucky" brand became the face of Lak Hui Chemical, with hit products like "Lucky toothpaste."
The electronics giant LG Corp. accounts for nearly 70% of the clan's fortune. The biggest shareholder, Chairman Koo Bon-Moo, lost his only son in 1994 and adopted nephew Koo Kwang Mo, who is in...
Feb 10, 2016 · “Yonam” Koo In-hwoi, the founder of LG Group, and his eldest son “Sangnam” Koo Ja-kyung are both business tycoons who helped create the foundation for Korea’s growth into one of the world’s leading industrial economies. Koo In-hwoi’s nickname comes from Yeonji-dong in Busan, where LG Group was born.
LG Corporation (or LG Group), formerly known as Lucky-Goldstar, is a South Korean multinational conglomerate founded by Koo In-hwoi and managed by successive generations of his family. It is the fourth-largest chaebol (family-run conglomerate) in South Korea.
May 1, 2012 · The late Koo, who helped LG expand its business into consumer electronics after the Korean War, was honored by the Consumer Electronics Association in 2012. He was one of the company founders and inventors, and retailers that educate and deliver products to consumers.
