Late LG chairman's prized Rolex finds new home after Twins triumph

Industry

Published: 14 Nov. 2023, 10:18 Updated: 15 Nov. 2023, 08:26

Late LG chairman's prized Rolex finds new home after Twins triumph

The Rolex watch promised by late former LG Chairman Koo Bon-moo to be given to the LG Twins' Korean Series MVP is shown to reporters on Monday. [NEWS1]

The Rolex watch promised by late former LG Chairman Koo Bon-moo, purchased for 80 million won ($60,300) in 1998 in anticipation of the LG Twins’ next Korean Series win, has finally found a home.

Korean Series MVP Oh Ji-hwan would have become the coveted watch’s new owner after being named Korean Series MVP on Monday, but refused the gift, saying he “will return the watch to Chairman Koo Kwang-mo” as he “considers the watch as the former chairman’s keepsake.”

It has been 29 years since the team’s last Korean Series win and 25 years since the watch was put into the club’s safe. “It will be gifted to the next Korean Series MVP,” said the former chairman as he handed over the watch to the club.

Former Chairman Koo loved baseball. He led LG’s, then Lucky Goldstar, acquisition of the MBC Chungryong in 1990 for 13 billion won. The club’s name was then changed to LG Twins after the initials of Lucky Goldstar.

Another passed down legend among fans is the former chairman’s stock of Awamori Shochu.

The Twins had won the 1994 season after a toast with Awamori Shochu was made at the end of the training camp in Okinawa. Koo then bought the same shochu ahead of the 1995 season. The team would “make a celebratory toast with this shochu if we win again,” he said. But as LG’s losses dragged on, word spread among the fans that “the shochu had all but evaporated,” and that “it cannot be bought anymore as it has been discontinued.”

LG Chairman and CEO Koo Kwang-mo joins in the celebrations after the LG Twins' Korean Series victory on Monday night. [NEWS1]

Current LG Chairman and CEO Koo Kwang-mo joined in on the long-awaited celebrations at the stadium on Monday. “How exhilarating it is. The world’s greatest, invincible LG fans!” he started his celebratory speech.

“Today’s victory was made possible thanks to everyone here and everyone who loves LG,” he added.

Now that LG Twins fans have quenched their thirst for victory after the long drought, fans and onlookers alike are wondering if LG will offer discounts on its products.

LG's major affiliates, such as LG Electronics and LG Household & Health Care, are reportedly preparing a variety of promotional events to celebrate the win.

Twenty-nine years of waiting ended on Monday night as the LG Twins beat the KT Wiz to claim the Korean Series title at home in southern Seoul. [NEWS1]

Korea's professional baseball teams, most of them owned by big corporations, have sparked many a celebratory promotion event by the affiliate groups after their playoff wins.

For instance, after the SSG Landers won in 2022, its corporate owner Emart announced "buy one, get one free" promotions for popular items and up to 50 percent off of products, as well as events for its affiliate businesses.

LG Electronics held an event this year where customers who purchased recommended products on the LG Electronics website would receive membership points should the LG Twins win. An official announcement for the upcoming events has not yet been made.

"It's a win after 29 years, which should mean 29 percent off for LG home appliances. What more is there to think about?" a user on X, formerly Twitter, said Sunday. The post received more than 356,000 views and 7,500 reposts.

BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]