LG pioneer Koo Cha-hak dies at 92

Late Ourhome Chairman Koo Cha-hak [OURHOME]

Koo Cha-hak, a pioneer at various LG companies and chairman of Ourhome, died at the age of 92.

Koo was hospitalized at Samsung Medical Center in Gangnam District, southern Seoul, early this year and died Thursday at 5:20 a.m.

Koo is survived by three daughters Koo Mi-hyun, Koo Myung-jin and Koo Ji-eun; son Koo Bon-sung; and his wife Lee Sook-hee, eldest sister of former Samsung Group chairman Lee Kun-hee.

Koo Cha-hak was born in 1930, the third son of Lucky Goldstar Group founder Koo In-hwoi. He worked as president of Hotel Shilla and director of CJ CheilJedang, both Samsung affiliates, after marrying Lee Sook-hee in 1957. The marriage drew enormous public attention as a coming together of Korea's two biggest companies.

Koo returned to Lucky Goldstar Group as the rivalry between the two groups grew. Samsung went into the consumer electronics market in 1969, establishing Samsung Electronics and taking on a business dominated by Lucky Goldstar.

Koo started working as CEO of Lucky Corporation, currently known as LG Chem, in 1980.

He lived by the code that “technology is the key for a country’s development” and emphasized research and development to catch up with Japan and Taiwan, countries leading petrochemical exports in the 80s.

Under Koo’s leadership, Lucky Corporation became the first company in Korea to develop polybutylene terephthalate (PBT), a stronger type of thermoplastic engineering plastic used to make electronic parts and auto parts.

He is behind the development of the famous Perio toothpaste in 1981.

Lucky Corporation became the first Korean company to export cosmetics, starting with DeBon cosmetics to the United States and Singapore in 1985. Koo was awarded the Gold Tower Order of Industrial Service Merit at the annual Trade Day ceremony in 1986 for his contribution to the Korean economy.

He was named chairman of Goldstar Electron in 1989, and chairman of LG Engineering & Construction in 1995.

Koo became chairman of food catering company Ourhome in 2000, when it was spun off from LG Distribution’s food service division.

He believed research and development was equally important for food catering as for manufacturing sector, and established Ourhome Food Research Institute in 2000. Ourhome was the first catering company in Korea to run such an institute, and the decision was opposed by many at that time because people believed it was unnecessary to invest so much in a food company.

But the institute developed low-calorie and gluten-free meals, quick-freezing technologies for efficient food storage and over 15,000 recipes.

The company started with revenues of 212.5 billion won ($165 million) in 2000, which grew to 1.74 trillion in 2021.

Koo remained chairman of Ourhome but wasn't involved in management as he aged.

Ourhome is currently led by CEO and Vice Chairperson Koo Ji-eun, who owns 20.67 percent of the company. Koo Bon-sung owns 38.6 percent and was CEO and vice chairman from 2016. He stepped down from both positions in June 2021 after a road rage incident in 2020.

BY LEE TAE-HEE [lee.taehee2@joongang.co.kr]