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Jinju, South Gyeongsang Province, Korean Empire. Died. December 31, 1969. (1969-12-31) (aged 62) Seoul, South Korea. Known for. Founding LG Group. 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.
- South Korean
- Founding LG Group
The roots of the LG brand, “Lucky” and “Goldstar”. The LG we know today came from Lucky Chemical Co., Ltd., established in 1947. 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.
- Thebackstory of LG Foundation
- Formationof Lg- Top South Korean Company
- Kooin-Hwoi – Founder of LG
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.
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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.
- Lucky-Goldstar, (1983–1995)
- Conglomerate
- 주식회사 엘지
- Public
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.
South Korean businessman; Founder of LG Group / From Wikipedia, the free encyclopedia. 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.
