GS Group marked its 20th anniversary by reflecting on its founding spirit of “change and challenge,” while reaffirming its commitment to future growth.
The company celebrated this milestone on March 28 at the GS Arts Center in Yeoksam-dong, Seoul, also marking the venue’s opening. Attendees included GS Group Chairman Huh Tae-soo, executives from subsidiaries such as GS Caltex, GS Energy, GS Retail, and GS E&C, as well as key partners.
Founded in 2005, GS Group emerged as an independent entity following its separation from LG, focusing on energy (refining), construction, and retail businesses. The group designated March 31, 2005, as its official founding day.
The company’s roots trace back to 1947, when founders Huh Man-jung and Koo In-hoe co-founded Lucky Chemical Industrial Company. This venture led to more than six decades of joint management between the Huh (GS) and Koo (LG) families. In 2005, the companies pursued independent operations, a move widely praised as a rare and amicable corporate split—a “beautiful farewell.” Since then, the Huh and Koo families have continued to maintain a strong, collaborative relationship.
The ceremony was attended by notable figures, including Ryu Jin, chairman of the Federation of Korean Industries, as well as business leaders such as LG’s Koo Kwang-mo, LS’s Koo Ja-eun, and LIG’s Koo Bon-sang. Executives who began from a common foundation and now run separate businesses exchanged messages of support and cooperation.
Chairman Huh remarked, “Despite rapidly changing business environments, GS has consistently pursued growth. From building a world-class oil export company in a nation with no oil, to developing retail networks that enhance daily life, and undertaking construction projects to improve quality of life, GS has expanded its global presence.” He added, “As we celebrate our 20th anniversary, we will continue to honor the founding spirit of ‘change and challenge’ and push forward toward even greater growth.”
Starting with refining, retail, and construction, GS Group has since expanded into energy generation, trading, hospitality, and venture investments, becoming a global player. Since its founding, the group’s assets have grown from 18.7 trillion won to 80.8 trillion won, more than quadrupling, while revenues have surged from 23 trillion won to 84.3 trillion won.
The event was held at the newly opened GS Arts Center, located on the former site of the LG Arts Center in Yeoksam-dong. The venue blends corporate identity with culture, hosting the group’s first official event since its opening. A commemorative video highlighted GS Group’s history and growth, followed by a performance by Belgium’s B’Rock Orchestra. The orchestra’s modern interpretation of Vivaldi’s Four Seasons reflected GS’s philosophy of combining tradition with innovation.
A GS Group representative concluded, “We are preparing for a new phase of growth with strategies focused on digital and eco-friendly initiatives. Guided by the founding spirit of ‘change and challenge,’ we remain committed to driving sustainable growth alongside our customers, society, and partners.”
