LG FOUNDER INDUCTED INTO CONSUMER ELECTRONICS HALL OF FAME
The founder of LG Group, In Hwoi Koo, has been inducted into the Consumer Electronics Hall of Fame. Considered the Father of Korea’s electronics industry, he was a pioneering entrepreneur who explored the electronics, chemical and energy industries in the early years of Korea’s industrialisation.
Bestowed by the Consumer Electronics Association (CEA), the Consumer Electronics Hall of Fame was created in 2000 to honor the leaders in the consumer technology industry who have shaped and advanced innovation. With In Hwoi Koo’s induction, LG Corp. and its subsidiaries represent more industry pioneers in the Consumer Electronics Hall of Fame than any other company in the world.
This honor recognizes In Hwoi Koo’s key role in creating the worldwide consumer electronics business and establishing LG as a global force, while reflecting the emergence of Korea’s electronics industry as the global technology leader. Founding Chairman Koo (1907-1969) laid the foundation for the modernization of Korea, which ultimately led to global leadership. At a time when Korea was still in the wilderness of technological civilization, every product he laid his hands on, such as plastics, toothpaste, radios, telephones, refrigerators and television sets, became the first of its kind in Korea and brought tremendous change to the Korean people’s lifestyle. Believing firmly in the principle of creating harmony among people, he valued his customers and his talented personnel. He also stressed the importance of corporate social responsibility and was a model entrepreneur in the business community. Today, the company he founded, LG Corp., is a $120-billion global conglomerate comprising 60 different companies in the electronics, chemicals, telecommunications and services sectors.
This honor recognizes In Hwoi Koo’s key role in creating the worldwide consumer electronics business and establishing LG as a global force, while reflecting the emergence of Korea’s electronics industry as the global technology leader. Founding Chairman Koo (1907-1969) laid the foundation for the modernization of Korea, which ultimately led to global leadership. At a time when Korea was still in the wilderness of technological civilization, every product he laid his hands on, such as plastics, toothpaste, radios, telephones, refrigerators and television sets, became the first of its kind in Korea and brought tremendous change to the Korean people’s lifestyle. Believing firmly in the principle of creating harmony among people, he valued his customers and his talented personnel. He also stressed the importance of corporate social responsibility and was a model entrepreneur in the business community. Today, the company he founded, LG Corp., is a $120-billion global conglomerate comprising 60 different companies in the electronics, chemicals, telecommunications and services sectors.
“In Hwoi Koo is among the visionary leaders that laid the foundation that our industry continues to build upon,” said CEA President and CEO Gary Shapiro. “His vision, drive to excel and enthusiasm helped to create the innovative CE products and services that have improved the lives of consumers worldwide.”
Founding of Korea’s Electronics Industry
LG Chem in Korea
LG had its start in 1947 when In Hwoi Koo founded Lucky Chemical (now LG Chem). The early success of Lucky cosmetics cleared the way for his entry into the plastics industry. He marketed various plastic household products, including combs, toothbrushes and dishware. He also developed quality Korean toothpaste that replaced U.S.-made Colgate as the top seller in Korea.
