SEOUL, 7 October 2003 — LG Electronics has named Vice Chairman S.S. Kim as the new CEO. He succeeds John Koo who has resigned.
Since entering LG in 1969 the new CEO has been working at the digital appliance company for 35 years. As such, he has witnessed LG’s growth. He is well known and respected as a reform-minded businessman with outstanding leadership skills, and strong drive and initiative.
In particular, he proposed the six sigma innovation and knowledge-based management campaigns across the board, spearheading the company’s reform activities as a field-oriented entrepreneur. He likes to talk with employees, without the air of someone who is a high-ranking company official.
Since January 2003, Kim has been serving as LG vice chairman and CEO, and head of the digital appliance company. The Business Week selected him as the Star of Asia for 2003 in June.
“I feel overwhelmed by such great responsibility. Based on John Koo’s achievements as the former chairman and CEO, I’ll do my utmost to help LG rank among the world’s top three electronics and information communication companies by 2010,” Kim said.
John Koo is the eldest son of Koo Tae-hwoi, one of the LG founder families. The LG is set to spin off LG Cable and relevant affiliate companies in accordance with the nation’s fair trade law.
