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LG group chairman Koo Bon-moo, talking to reporters on a flight home from the United States, that training a chief executive to be an able leader is more important for a firm than having "a couple of geniuses."
Koo's "CEO management theory" is a polar opposite to Samsung chairman Lee Kun-hee's "genius management theory."
Unlike Samsung, which is run under direct order from the chairman and the corporate restructuring office, the LG group gives more authority to its subsidiary chief executives. The chief executives at LG Group's subsidiary companies simply do not feel pressured to follow orders from the chairman or the restructuring office. At a glance, Koo argued, the LG group may seem to have weaker discipline, but its flexibility is its strongest advantage, which played a large part in moving the group under wing of a holding company.
At the LG group, which prides itself on the harmony of its two owners, many of the chief executives are from either the Koo or the Huh family. Most of the chief executives from the families, however, are on an equal footing with non-family CEOs. An LG official said that many chief executives from the owners' families are under pressure to perform, because they become the subject of ridicule if they do not excel in their jobs.
For instance, LG-Caltex Oil president Huh Dong-soo, a University of Wisconsin graduate also known as the "digital missionary", and Koo Bon-jun, the LG.Phillips LCD president known for his charismatic leadership, are both from owners' families, but are said to be as competent as any other chief executives.
Sung Jae-gap, president of LG Petrochemical, is a witness to the expansion in the Korean chemical industry and has worked as a chief executive since 1989. As the senior chief executive at LG, Sung gets respect even from Koo Bon-moo. Sung is said to have once memorized all the names of his employees. He is also well known for having completed in 1989the construction of a 450,000-ton size naphtha-cracking factory within 18 months, by reclaiming the waterfront in Yeosu, South Jolla Province.
Kang Yoo-sik, vice chairman of LG, was a prominent employee while he was still a director. Kang is now in Chairman Koo's inner circle, and played a leading role in converting the LG group into a holding company.
No Ki-ho, president of LG Chemicals, is one of the core chief executives who stress the importance of practical leadership and open and just management. He reads all the complaint emails from employees and adopted the Enterprise Resource Planning method to enhance the efficiency of management. No is fluent in English, Japanese, and Chinese, and watches his health by walking four kilometers everyday after work.
Two vice presidents of LG Electronics are known for their military style of leadership. No Yong-ak has been in charge of the Chinese branch of LG Electronics since 1995. He was responsible for developing LG Electronics into a major player in the Chinese market. He is said to be open-minded, who carries his liquor well, and is the brother of actor No Ju-hyun.
Kim Ssang-su turned the LG factory in Changwon into a world famous factory. Kim is also known as the expert of the Six Sigma strategy.
Choi Young-jae, president of LG eshop, is best known for his passionate work skill. Competitors fear him for his aggressive marketing strategies, summed up by the slogan "When you are competing, fight to win." Choi pulled the firm's sales up to W1.8 trillion in just six years.
Both Park Woon-seo, president of Dacom, and Seo Kyung-seok, president of LG Investment and Securities, used to be public service workers. They are totally different, however, in management style. Park, known as "Tiger Park", is known for his impulsive habits, while Seo is a quiet type and bookish.
Chung Byung-chul, president of LG CNS, is a famous and thorough certified finance officer. Nam Yong, president of LG Telecom, was the secretary of the Honorary President Koo Ja-kyung. Nam speaks fluent English and is said to be a talented organizer.
(Cho Hyung-rae, hrcho@chosun.com )
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