[THE INVESTOR] Koo Bon-moo, chairman of South Korean conglomerate LG Group, has been hospitalized due to an illness he has been suffering, and he is reportedly in a critical condition, according to news reports on May 17.
Koo, the second generation of the LG owner family, has been receiving treatment at Seoul National University Hospital for more than a year since he had surgery early last year.
LG Chairman Koo Bon-moo
LG Group called an emergency meeting of the board of directors Thursday morning to discuss an agenda item that nominates the chairman’s son Koo Kwang-mo as a registered member of the board of directors.
“The board meeting was held to discuss the leadership inheritance based on the judgment that the chairman’s health conditions would limit his activities,” the group said in a statement.
Koo’s nomination will be decided at a regular board meeting slated for June 29.
By Song Su-hyun/The Korea Herald (firstname.lastname@example.org)