[New Business World 3rd and 4th Generation]⑥ 'Gu Bon-gyu and Gu Dong-hwi' Dual Pillars of Next-Generation Leaders... Growing Presence of LS 3rd Generation

Gudonghwi Actively Participates in Secondary Battery Material Business
Gubonggyu, Veteran Contributing to Cable Order Expansion

Among the executives appointed in LS Group's personnel reshuffle last November, the standout figure was Donghwi Koo, Vice President and Chief Operating Officer (COO) of LS MnM (formerly LS Nikko Copper). Being appointed as a vice president of a core LS affiliate at the relatively young age of 41 surprised many within the group.

However, subsequent developments suggest that such concerns were unfounded. Shortly after his appointment, Vice President Koo actively engaged in understanding his responsibilities, attending the signing ceremony of a memorandum of understanding (MOU) for the construction of a high-purity metal compound production facility for secondary batteries in Saemangeum, valued at 1.16 trillion KRW, ahead of his official inauguration in January next year.

The person who bolstered Vice President Koo's position was his father, Ja-Yeol Koo, Chairman of LS Corporation's Board and Chairman of the Korea International Trade Association. In an interview with Asia Economy shortly after the personnel announcement, Chairman Koo was asked about the significance of moving Donghwi Koo from LS Electric to LS MnM, a subsidiary specializing in cathode materials for secondary batteries. He replied, "Vice President Koo has a strong interest in electric vehicle secondary battery materials," adding, "He will perform well alongside various business strategies."

Vice President Koo has accumulated experience in the secondary battery business at LS Corporation, E1, and LS Electric. Notably, during his tenure as Executive Director and CEO of E1's New Growth Business Division, he led business restructuring efforts such as converting liquefied petroleum gas (LPG) stations into hydrogen charging stations. While serving as Vice President and CEO of LS Electric's Vision Management Division, he also spearheaded projects related to the design, procurement, and construction (EPC) of hydrogen fuel cell power plants.

Accordingly, there is anticipation within LS that the long-standing one-man leadership system under Do Seok-gu, Vice Chairman and CEO of LS MnM since 2016, will give way to organizational culture reforms and efforts to pursue a stock market listing. Park Joo-geun, CEO of Leaders Index, commented, "The addition of Vice President Koo sends a clear signal to the market that an initial public offering (IPO) will definitely take place."

Bon-gyu Koo, CEO of LS Cable & System, is already recognized as a prominent third-generation leader. With 17 years of experience, he is highly regarded among LS's third-generation owners. He has contributed to increasing cable orders in major markets such as the U.S. and Europe. The submarine cable business is a key sector for LS Cable & System, growing amid global carbon neutrality policies and expanding renewable energy demand. CEO Koo has helped LS Cable & System grow into the world's fourth-largest submarine cable company, following European firms Nexans (France), Prysmian (Italy), and NKT (Denmark). On the 12th, LS Materials, a subsidiary, was listed on the KOSDAQ market.

Within LS, there is a strong sentiment that CEO Koo and Vice President Koo will jointly lead the group's future growth engines in the "Battery, Electric Vehicle, Semiconductor" (Bae-Jeon-Ban) sectors. Especially with the owner family joining the management of LS MnM, the process of pursuing a stock market listing is expected to accelerate, raising market valuation expectations.

The promotion pace of LS's third-generation leaders is faster than that of the second generation. Vice President Koo became Vice President of LS Electric at age 41, six years earlier than his father, Chairman Ja-Yeol Koo. CEO Koo was appointed Vice President of LS Mtron at age 41 in 2020, about ten years earlier than his father, Honorary Chairman Ja-Yeop Koo, who became vice president at age 50.

Other third-generation leaders in LS include Bon-hyuk Koo, President and CEO of Yesco Holdings (46), and Bon-ung Koo, CEO of Maum Capital Group (44). Bon-hyuk Koo served as Managing Director, Executive Director, and Vice President at LS MnM for eight years before joining Yesco Holdings in 2020. Bon-ung Koo is not involved in LS management. Bon-gwon Koo, Executive Director at LS MnM (39), is undergoing management training, and So-hee Koo, Head of the DX Lab (Research Fellow) in the Vision Management Division (CVO) (37), will be promoted to director as of January 1 next year. Director Koo was the youngest executive named in LS Group's personnel reshuffle for next year.