P.H. Koo Leaves Tough Shoes To Fill
트위터 페이스북 미투데이
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P.H. Koo Leaves Tough Shoes To Fill
Late chairman laid the foundation for the petrochemical industry in Korea by launching the first private oil refinery in j.v. with Caltex

30(Fri), Nov, 2012

Honorary chairman of E1 Corp. and a founding member of the LG Group, Koo Pyong-hwoi passed away on Oct. 20 from chronic diseases at Asan Medical Center in Seoul. The fourth younger brother of the late LG Group patriarch In-hwoi was 86 years old.
President Lee Myung-bak paid his respects on Oct. 23 to the late Koo, bestowing a government medal on the late business leader.
Lee visited the funeral altar for Koo at Seoul’s Asan Medical Center to pay his respects and posthumously confer the Gwanghwa Medal of the Order of Diplomatic Service Merit on him in recognition of his achievements to uplift South Korea’s international profile.
Koo is considered to have helped lay the groundwork for Korea’s development of heavy and chemical industries with the establishment of Honam Oil Refinery jointly with Caltex of the United States in 1967, which was later renamed GS Caltex.
In 1984 he founded E1, the first Korean firm specializing in LPG.
Koo served as the head of various civilian diplomatic organizations including the Korea-U.S. Economic Council and the Pacific Basin Economic Council (PBEC). 
Officials of LS Group, which the late Koo also founded, said Koo came to his office as recently as two days before he died, but suddenly fell ill at his home in Pankyo just outside Seoul, saddening his family members and all those close to him. He did not spare his advice on management issues, coming to his office practically every working day full of enthusiasm over business matters, they added.
Born in 1926 in Chinju, South Gyeongsang Province, he graduated from Seoul National University with a degree in political science and entered Lucky Chemical to begin a long business career.
He later managed the company’s New York office and was promoted to managing director before moving on to Honam Oil Refinery, the predecessor of GS Caltex, as its president. Other key posts he held included vice chairman of LG Group, chairman of E1 & LG Trading, and a founding advisor to LG Group, taking care of a corner in the establishment of LG Group.
Koo’s numerous achievements in the petrochemical sector include launching Yeosu Energy, now E1, the first firm that deals exclusively with LPG imports and marketing in Korea.
Koo was known for his persistence in including E1 in LS Group when it was spun off from LG Group, although E1 was an energy company. His family owns 100 percent of E1, although it is a member of LS Group, unlike other companies affiliated with the group. Koo also has been known for his close ties with many people in key positions in the world business community°™enough to make him “the diplomat of the business community.”
His fluent English set him apart from other business leaders in Korea, which helped him build his own human network. From 1983 to 1994, he was chairman of the PBEC Korean Committee and the first Korean chairman of the PBEC. He was also chairman of the Korea-U.S. Economic Council and an advisor to the Korea-Japan Economic Association, helping to boost Korea’s position in the international civilian diplomacy arena.
A number of international recognitions came his way including the Philip Habib International Strategic Leader Award for his contribution to the development of the Asia-Pacific region and the Grand Cross of Peru Medal for his meritorious contribution to the development of Central and South America, among others. 
   
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