Yoo Su-nam (柳秀男), who served as the first CEO of LG Department Store when Lucky-Goldstar Group (now LG Group) entered the retail business, died at 82.
Jeong Sang-guk, former head of public relations (executive vice president) at LG Electronics(066570), said on the 16th that the deceased died on the 10th.
Born in Seoul, the deceased graduated from Seoul High School and Yonsei University with a degree in business administration, then joined Lak Hui Chemical Industrial Corp. (now LG Chem(051910)) in 1970. The deceased worked for a long time in the group's public relations institutional sector. After serving as managing director in the chairman's office of Lucky-Goldstar Group in 1990 and senior managing director in charge of public relations, the deceased became a senior managing director at LG Distribution and then served as CEO of LG Department Store from 1994 to 2000.
Lucky-Goldstar Group entered the department store business by opening the LG Distribution Everyday Department Store (Ansan branch) in Oct. 1992. The group established LG Makki in Feb. 1994, changed its name to LG Department Store in June of the same year, and selected the deceased as the first CEO.
LG Department Store opened its second branch in Bucheon in 1996 and the third in Guri in 1998. The deceased led expansion into e-commerce by introducing a department store-exclusive card and unveiling the integrated internet shopping mall brand "LG Mart Millennium Mall."
The retail institutional sector, including LG Department Store and LG Mart, was integrated into GS Retail(007070) after a spin-off to GS Group in the mid-2000s, and the department store business was transferred to Lotte Shopping(023530).