Summary
Koo Pyong-hwoi, Honorary Chairman of E1, was one of the three founding members of LS Group, a South Korean conglomerate that operates electrics, materials and energy businesses.
He was born in 1926 as the fifth brother of LG Group founder Koo In-hwoi. He graduated from Seoul National University before starting his career at Lak Hui (Lucky) Chemical Co., Ltd. (now LG Chem) in 1951. He served as the company’s first external contact due to his excellent negotiation skills and fluency in foreign languages.
When he worked as the expatriate of Lucky Chemical’s New York office in 1954, he developed Korea’s first toothpaste, “Lucky Toothpaste.” Koo was also the first expatriate of a Korean company. The initial success of “Lucky Toothpaste” helped spearhead the company’s growth into plastics and petrochemical industries.
He also contributed to the company’s success in overseas joint ventures. He established petrochemicals compnay Honam Oil Refinery (now GS Caltex) through a joint venture with U.S. based Caltex. In 1984, he founded Yeosu Energy (now E1), the first LPG importer in Korea.
Together with his two older brothers, Koo formed LS Group in November 2003, when the company separated from LG Group. He passed away in 2012, at the age of 86.
Timeline
▲ 1926 = Born.
▲ 1951 = Graduated from Seoul National University with a degree in Political Science.
▲ 1951 = Joined Lucky Chemical (now LG Chemical).
▲ 1954 = Sent to New York as a representative for Rakhee Chemical.
▲ 1967 = Founded Honam Oil Refinery (now GS Caltex).
▲ 1984 = Founded Yeosu Energy (now E1).
▲ 1989 = Chairman of Lucky Goldstar Trading (now LX International, formerly LG International).
▲ 1994-1999 = Chairman of the Korea International Trade Association.
▲ 2001-2008 = Chairman of the Korea-America Association.
▲ 2002 = Honorary Chairman of LG Caltex Gas (now GS Caltex).
▲ 2004 = Honorary Chairman of E1.
