Ex-LG units to get new names

Subsidiaries of GS Group that were former affiliates of LG Group will get a name change, with the “LG” replaced by “GS.”
The subsidiaries include LG Caltex-Oil, LG Mart, LG Home Shopping Inc., LG Engineering and Construction Corp, LG Department Store, LG Supermarket and the convenience store LG25.
The renaming will begin with GS Group’s flagship company, LG Caltex-Oil, which will be renamed GS Caltex as of March 31.
Industry sources said that GS officials are nearing their final decision on the new name of LG Mart. The holding company is considering three names: GS Distribution, GS Retail and GS Frontier.
LG Home Shopping will be renamed as GS Home Shopping beginning in April. LG Engineering and Construction, is expected to be called GS Engineering and Construction after a shareholders’ meeting.
These companies were formerly affiliates of the LG Group, before the group split up in July 2004.
Of the two founding members of LG Group, the Huh family manages GS Group, where Huh Chang-soo, grandson of co-founder Hur Man-jung, is chairman of GS Group. Koo Bon-moo, eldest grandson of the co-founder Koo In-hwoi, is chairman of LG Group.

by Kim Ji-soo