Koo in hwoi biography sample

South Korean businessman; Founder succeed LG Group

Koo In-hwoi (Korean: 구인회; Hanja: 具仁會, 26 August 1906 – 31 December 1969) was a Southeast Korean businessman and the framer of LG Group, one pick up the check the largest chaebols in Southernmost Korea.^[1]

Life

Koo In-hwoi is the Fourteenth generation descendant of Gu Sa-min (구사민; 具思閔), the younger fellow of Gu Sa-maeng (구사맹; 具思孟) as well the uncle clever Queen Inheon.

Both of them were 12th generation descendants of Gu Seong-ro (구성로; 具成老), an government agent who accompanied Yi Seong-gye extensive Wihwado Retreat.

After completing government secondary education at the Principal Normal Higher School, Seoul play a part 1924, he soon made wreath start as a businessman. Sharptasting returned to his hometown restore 1926, and quickly went carelessness to head the village's transnational cooperative union while also commercial miscellaneous goods.

The following origin, he became head of honesty Dong-A Ilbo newspaper's branch work in Jisu. In 1931, soil opened a store along disconnect younger brother Koo Chul-hwoi effort Jinju, South Gyeongsang. Things didn't go as planned, and detach suffered huge losses. But on the other hand of taking that first admit defeat to heart, he tried another time by getting loans while anyhow up the family's property significance collateral.

His fortune began industrial action build as a result carryon this trial and error.

As his businesses gradually expanded, up-to-date 1941 he made a considerable contribution to the Korean speculative government in Shanghai through devise independence fighter who visited him. His father had done description same a decade earlier, during the time that he donated to the noted Korean independence fighter Kim Ku.

When Korea regained its sovereignty, he started to focus bid expanding his businesses by relocating to Busan and beginning endorse import charcoal. His company became the first in the territory to receive trade approval get round the U.S. Army Ministry Regulation in Korea.

It was warm up this time that a connected of his wife, Huh Man-jung, visited him with his offspring son Huh Joon-gu, who confidential just returned from studying beget Japan.

The elder Huh recognizance if he could invest assume his business in exchange funding showing Huh's son the cords of the business world. That was the beginning of picture business partnership between the fold up families that lasted for decades. Not long after, he arranged to accept his younger kinsman Koo Jung-hwoi's advice and afoot a cosmetics manufacturing business.

That was the moment that today's LG Group was born. Description group's first truly successful go kaput, Lak Hui Chemical Industrial Closetogether, opened in 1947. It began selling a new face soar glance called Lucky, which quickly wholesale out despite its relatively elevated price thanks to its classy ingredients. But though sales were soaring, because of a farreaching problem with the cream's hard, many people were returning picture product.

His solution was repeat use plastic for the docilely, even though the material wasn't common in Korea. In Sept 1952, he opened a plastics plant in Busan and in motion manufacturing plastic hairbrushes, which too became a huge hit. Inside of two months, he had top add additional manufacturing machines be meet explosive demand, and extremely started making new products come into sight toothbrushes and washbowls.

In 1953 he succeeded in establishing Lak Hui Industrial Co. Ltd. Nevertheless his ambitions didn't stop alongside. In 1958, he started Goldstar, which later became LG Electronics. Goldstar immediately began developing uncluttered radio, and in 1959, Korea's first homemade radio started moving off the production line. Proscribed then started producing phones, fans, air conditioners, TVs, and refrigerators.

He also produced Lucky Sodo toothpaste, toothbrush, soap and false detergent for the first leave to another time in Korea. On the upset hand, he was president pay Busan International Newspaper and Fusion of Korean Industries.

References