Ex-LG chief: top-notch universities create top-notch nation

The late founder of LG Group, Koo In-hwoi, pioneered Korea’s industrial modernization and stressed the importance of fostering talent.

Among his famous quotes are “The people are the company,” “A company will grow only through nurturing talent,” and “A person will do his or her best if given responsibility. Foster those who are willing to do their best.”

Creating the principle of “creating harmony among people,” Koo emphasized on-site training. Upon establishing Lak-Hui Chemical Industrial, which later became LG Chem, he ordered Koo Ja-kyung, his eldest son and former chairman of LG Group, to perform odd jobs at factories.

Koo In-hwoi said he believed one can rise to top only by starting from the bottom. Just before his death in 1969, he established LG Yonam Foundation to cultivate talent.

Koo Ja-kyung followed his father’s philosophy. At the Yonam certificate awards ceremony for professors selected to do research abroad Tuesday at LG Twin Tower in northern Seoul, he again stressed the importance of fostering talent.

After establishing Yonam Academy in 1973, he set up the livestock college Cheonan Yonam University and Yonam Industrial College. Since retiring in 1995, Koo Ja-kyung has served as chairman of the Yonam Foundation board.

LG’s financial support for these two universities amount to 250 billion won (237 million U.S. dollars).

At the ceremony, Koo Ja-kyung gave 30 professors 30 million won (28,395 dollars) each for overseas study. LG has donated a combined 18 billion won (17 million dollars) to more than 600 professors.

“LG is continuing this project to contribute to the development of Korean universities, talent fostering and industrial development. It would be an honor if LG contributed one iota to the remarkable growth of Korean universities over the past 20 years,” Koo Ja-kyung said.

Speaking to professors who received financial support, he said, “I humbly ask you to become the world`s best in your respective areas. This way, your universities can become the world`s best, and your students can, too. In turn, our country can become the world`s best.”

sukim@donga.com