Koo Kwang-mo: Adopted son inherits the entire LG empire, breaks the rules to marry commoners

In addition to the strong Samsung family, LG is also in the top 5 most powerful chaebols (tycoons) in the country of kimchi. In particular, the heir to this huge empire is just the adopted son of the late LG president Koo Bon-moo.

Caused a lot of controversy

Koo Kwang-mo, the heir to the giant LG Group is actually the biological son of LG Electronics Vice Chairman - Koo Bon-neung, the younger brother of the late LG Chairman Koo Boo-moo. It is known that Mr. Koo Boo-moo has two daughters, but these two have long since been involved in the management of the family business.

After Mr. Koo Bon-neung died due to an unknown accident, Kwang-mo was officially adopted by the late president Koo. According to Korean media, since its founding until now, the LG family has a rule that always gives inheritance rights to the eldest son of the current president.

Therefore, in 2018, when Mr. Koo Bon-moo passed away, Koo Kwang-mo automatically followed in the footsteps of his adoptive father and took over one of the leading corporations in Korea. In 2019, at the age of 41, Koo became the youngest president among the top powerful chaebols in the land of kimchi.

Many people have expressed doubts about Kwang-mo trying to find a way to seize the assets of the late LG Chairman's family, but employees who have worked with Koo Kwang-mo have defended him. They said, Koo Kwang-mo is a talented and humble leader.

Talented heir

According to Korean media Koo Kwang-mo was born in 1978 in Seoul. The man studied Engineering at the University of Rochester in the United States and holds a master's degree in Business Administration from Stanford University.

In 2006, Koo Kwang-mo joined LG Group with a position in the financial department of LG Electronics. 5 years later, he was appointed as Deputy Director of the division. In the years that followed, the man continued to be appointed to higher positions. In 2014, Koo Kwang-mo returned as CEO of LG Synergy. According to various sources, LG employees describe Koo Kwang-mo as "gentle, calm" and sometimes play basketball with colleagues.

However, being too young and not having much experience is said to be the main barrier for Koo Kwang-mo when taking over LG. However, the LG representative said that he fully took on the heavy responsibility when he had undergone "adequate management training" through many positions at LG Corp and LG Electronics.

According to Forbes statistics, Mr. Koo is currently the 13th richest person in South Korea with a fortune of $1.8 billion. The man is currently the Chairman and CEO of LG - the top 5 most powerful chaebol in Korea and also the largest shareholder in this group with 17.52% of the shares.

Before taking the top power at LG, Mr. Koo also showed his leadership talent when he and LG set up impressive business milestones. In 23 years with LG, Mr. Koo has helped the group's revenue increase more than 5 times, to $ 148 billion in 2017.

In addition, Chairman Koo is also working to expand his network, creating momentum for the development of the group by meeting many famous businessmen and politicians. In June 2019, LG Chairman held a private meeting with Saudi Crown Prince Mohammed bin Salman, who visited South Korea. During the meeting, they discussed the partnership in the field of home appliances.

A month later, he also met with Softbank Chairman Masayoshi Son, to discuss business issues related to the industrial revolution and a cooperation plan between the two sides. In the past year, LG stock has seen a slight increase, the market capitalization is now over 16 trillion won, making it the 4th largest chaebol in Korea.

Choosing a "commoner" wife

Usually, the big families in Korea choose marriages for mutual support and bring many economic benefits as well as power. However, for Koo Kwang-mo, it was completely different.

The president of LG chose a wife that has nothing to do with interests, but it is purely out of love. The man has been dating his girlfriend Chung Hyo-jeong, the son of Chung Ki-ryeon, who owns a small and medium-sized food business.

It is known that the couple met while studying abroad in New York, USA, from 2004 to 2006. The two started their relationship in the early days of living in a foreign land. According to many close sources, Chung Hyo-jeong is a kind and sincere person, so she is very popular with everyone around.

According to Chung Hyo-jeong's share, her husband, even though he is the adopted son of LG Group, owns a fortune of hundreds of billions, but has a simple lifestyle. The feelings of both sides are nurtured by romantic dates, not too luxurious or flashy.

Of course, the couple's love story did not receive support from both sides of the family. The LG family opposed this love because they were too separated in terms of fame and social status. In addition, the girl's family has no intention of marrying their daughter into a super-rich chaebol family because they don't want Chung Hyo-jeong to be under a lot of pressure.

Despite those words of disapproval and objection, Koo Kwang-mo and Chung Hyo-jeong still followed the call of their hearts. The couple got married in 2009 in a simple, secret wedding ceremony because they did not want to become the focus of media and public attention. They now have 2 children, a boy and a girl. Pictures of the LG Chairman's family are completely kept secret in the media.

Continue to grow strong

At the end of last year, LG Group Chairman and CEO Koo Kwang-mo gave an important speech to welcome the new year 2023. Through a video sent to employees around the world, this billionaire send many meaningful messages.

LG Chairman said: "All members of LG should consider themselves as the protagonist. This is a way for everyone to find their own development path, bringing a variety of experiences to customers. This to help LG stand the test of time. To do so, each of us should consider who our customers are and what value you want to bring to them."

Mr. Koo Kwang-mo said that his "customer" is LG employees and his goal is to help all employees find their own personality to conquer customers.

"I am committed to ensuring that your contributions will be properly recognized and have greater opportunities for personal growth," emphasized LG President. Like last year, Mr. Koo sent out a New Year's message at the end of the year so employees could "calmly end a year gone by and spend time preparing for the new year with more flourishes".

According to Forbes, at the age of 45, this billionaire is Korea's 26th richest person with a fortune of $1.8 billion. Many people are still placing expectations on Koo Kwang-mo, believing that he will create new breakthroughs for LG in the near future.