LG Group Honorary Chairman Koo Cha-kyung died Saturday at age 94, the company said.
Born in 1925, Koo took the helm at LG at the age of 45 following the death of his father and LG founder, Koo In-hwoi, and led the conglomerate for 25 years.
He handed over the group's leadership to his eldest son and late Chairman Koo Bon-moo, who died in May this year.
Koo Cha-kyung is the grandfather of the current Chairman Koo Kwang-mo.
As LG chairman, Koo put an emphasis on growing the conglomerate into a world-class company, through heavy investment in new technologies and research and development (R&D). Some 70 LG R&D centers were built in Korea during his time.
He was also active in expanding LG's overseas footholds in key markets, including China, Southeast Asia, Eastern Europe and the North American region, especially for its electronics and chemical businesses.
After retirement, he spent much of his time engaging in various educational activities and corporate philanthropy.
He had six children with his wife, Ha Jeong-im, who passed away in 2008. (Yonhap)