LG Founder In Hwoi Koo Inducted Into Consumer Electronics Hall Of Fame
Father of Korea's Electronics Industry Recognized by CEA; LG and Subsidiaries
Now Represent Most Honorees in World
SAN FRANCISCO, Oct. 17, 2012
SAN FRANCISCO, Oct. 17, 2012 /PRNewswire/ --The founder of LG Group, In Hwoi
Koo, has been inducted into the Consumer Electronics Hall of Fame. Considered
the Father of Korea's electronics industry, he was a pioneering entrepreneur
who explored the electronics, chemical and energy industries in the early
years of Korea's industrialization.
Bestowed by the Consumer Electronics Association (CEA), the Consumer
Electronics Hall of Fame was created in 2000 to honor the leaders in the
consumer technology industry who have shaped and advanced innovation.With In
Hwoi Koo's induction, LG Corp. and its subsidiaries represent more industry
pioneers in the Consumer Electronics Hall of Fame than any other company in
This honor recognizes In Hwoi Koo's key role in creating the worldwide
consumer electronics business and establishing LG as a global force, while
reflecting the emergence of Korea's electronics industry as the global
Founding Chairman Koo (1907-1969) laid the foundation for the modernization of
Korea, which ultimately led to global leadership. At a time when Korea was
still in the wilderness of technological civilization, every product he laid
his hands on, such as plastics, toothpaste, radios, telephones, refrigerators
and television sets, became the first of its kind in Korea and brought
tremendous change to the Korean people's lifestyle.
Believing firmly in the principle of creating harmony among people, he valued
his customers and his talented personnel. He also stressed the importance of
corporate social responsibility and was a model entrepreneur in the business
community.Today, the company he founded, LG Corp., is a $120-billion global
conglomerate comprising 60 different companies in the electronics, chemicals,
telecommunications and services sectors.
"In Hwoi Koo is among the visionary leaders that laid the foundation that our
industry continues to build upon," said CEA President and CEO Gary Shapiro.
"His vision, drive to excel and enthusiasm helped to create the innovative CE
products and services that have improved the lives of consumers worldwide."
Founding of Korea's Electronics Industry
LG had its start in 1947 when In Hwoi Koo founded Lucky Chemical (now LG
Chem). The early success of Lucky cosmetics cleared the way for his entry into
the plastics industry. He marketed various plastic household products,
including combs, toothbrushes and dishware. He also developed quality Korean
toothpaste that replaced U.S.-made Colgate as the top seller in Korea.
In 1958, In Hwoi Koo produced another notable achievement in the history of
Korean industry – establishing GoldStar Co. Ltd. (now LG Electronics). Just a
year later, GoldStar produced a radio, the A-501, Korea's first consumer
electronics product, followed by a streak of "Korea's first" products
including telephones, fans, refrigerators, television sets, air conditioners,
washing machines, and so on, and brought tremendous change to the lifestyle of
Korean people. In Hwoi Koo's pioneering efforts created the foundation of the
Korean electronics industry and accelerated Korea's rise as a global player in
electronics and IT.
He then went on to found a number of companies in the chemical and electronics
industries and demonstrated an outstanding pioneering spirit as a forerunner
of industrialization. In 1962, he founded a company that manufactured cables
for electricity and telecommunications, which played an important role in
building the much-needed infrastructure in Korea. He also made significant
contributions in establishing the telecommunications infrastructure in Korea
by founding a telecom company that produced switchboards and public
Most Inductees in CE Hall of Fame
With In Hwoi Koo's induction, LG Corp. and its subsidiaries represent more
industry pioneers in the Consumer Electronics Hall of Fame than any other
company in the world.
The Consumer Electronics Hall of Fame includes eight other individuals
associated with LG. Dr. Woo Paik (1948- ), former LG Electronics President and
Chief Technology Officer, was inducted in 2004 for his pioneering work in
digital HDTV video compression.
Other LG inductees were associated with Zenith Electronics, which is a
subsidiary of LG Electronics USA. Inducted in the inaugural class of honorees
in 2000 were: Commander Eugene F. McDonald, Jr. (1886-1858), Zenith's late
founder-president who pioneered shortwave radio and subscription television,
among many other innovations; the late Dr. Robert Adler (1913-2007), long-time
Zenith vice president of research and father of the TV remote control; and the
late Carl Eilers (1925-2008), a 50-year Zenith veteran who was co-inventor of
standards for Stereo FM and Stereo TV. The late Walter Fisher (1919-1994),
former Zenith Chairman, long-time senior sales executive and industry
statesman, was inducted in 2001.In 2009, the Consumer Electronics Hall of
Fame inducted the late Karl Hassel (1896-1975) and the late Ralph H.G. Mathews
(1897-1982), co-founders of Chicago Radio Laboratory in 1918, which became
Zenith in 1923. Richard Citta (1944- ), retired Zenith researcher, who
developed the VSB digital television transmission system at the heart of the
U.S. and Korean broadcasting standards, was inducted as part of the 2012 class
along with LG's In Hwoi Koo. The Zenith pioneers were inducted after LG
Electronics acquired Zenith in 1999.
Significance of Consumer Electronics Hall of Fame
According to CEA, the Consumer Electronics Hall of Fame inductees have made
significant contributions to the world, and without their efforts, our lives
would not be the same. "We owe these leaders our gratitude for laying the
foundation for the marvels yet to come in this century full of opportunity and
providing us with inspiration. It is truly amazing what a profound impact an
idea can have once it is unleashed on the world. So with this in mind, the
Consumer Electronics Hall of Fame honors the leaders whose creativity,
persistence, determination and sheer personal charisma helped to shape an
industry and made the consumer electronics marketplace what it is today."
CEA is the preeminent trade association promoting growth in the $195 billion
U.S. consumer electronics industry. More than 2,000 companies enjoy the
benefits of CEA membership, including legislative advocacy, market research,
technical training and education, industry promotion, standards development
and the fostering of business and strategic relationships.CEA also owns and
produces the International CES – The Global Stage for Innovation. All profits
from CES are reinvested into CEA's industry services.Find CEA online at
About LG Corp.
LG Corp. is a leading global business group with business activities focused
in the three key areas of Electronics, Chemicals and Telecommunications &
Services. Since its establishment in 1947, LG has become one of the world's
largest corporations. It made a transition into a holding company system in
2003 to improve business transparency and develop its management system.
Today, LG has 60 subsidiaries such as LG Electronics, LG Chem and LG Display
under a single holding company, LG Corp., with workforce of 210,000 in more
than 80 countries. Consolidated revenues in 2011 were about $120 billion.
About LG Electronics USA
LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North
American subsidiary of LG Electronics, Inc., a $49 billion global force and
technology leader in consumer electronics, home appliances and mobile
communications. In the United States, LG Electronics sells a range of stylish
and innovative home entertainment products, home appliances, mobile phones,
commercial displays, air conditioning systems and solar energy solutions, all
under LG's "Life's Good" marketing theme. LG Electronics is a 2012 ENERGY
STAR® Partner of the Year. For more information, please visit www.lg.com.
SOURCE LG Corp.
Contact: John I. Taylor, LG Electronics USA, +1-847-941-8181,
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