LS MnM CEO Koo Dong-whi has been promoted to president in LS Group's recent year-end executive reshuffle, advancing in the competition for control among the conglomerate's third-generation heirs. The 43-year-old's promotion comes a year after his appointment as CEO of the nonferrous metals company. The group praised his efficient management and aims for him to lead its electric vehicle materials ecosystem.
In LS Group's recent year-end executive reshuffle, Koo Dong-whi, CEO of LS MnM, was the only senior executive vice president promoted to president, marking another step in his competition with other third-generation heirs for control of the cable-to-smelting conglomerate.
"Since becoming LS MnM’s CEO, Koo has quickly restored profitability in the smelting business through efficient management and higher sales of precious metals," LS Group said in a press release. "He aims to lead the group’s ecosystem for electric vehicle materials by advancing key businesses such as nickel sulfate and precursors for rechargeable batteries."
Since 2021, LS Group has been led by Chairman Koo Ja-eun, the eldest son of Yesco Honorary Chairman Koo Doo-hwoi, who was the youngest brother of LG Group founder Koo In-hwoi. The current chairman took control from his eldest cousin, Koo Ja-yeol, who is the father of LS MnM’s CEO and chairs the board of the group’s holding company. Ja-yeol had succeeded his older cousin, Koo Cha-hong.
In line with precedent, Inveni Vice Chairman Koo Bon-hyuk, who heads an investment firm under LS Group, is seen as a leading candidate to succeed the incumbent chairman. The eldest son of LS-Nikko Copper Chairman Koo Cha-myeong is the oldest among the group’s third-generation heirs in management and the only one to hold the title of vice chairman.
However, Dong-whi has secured a 3.04 percent stake in the holding company, second only to the incumbent chairman’s 3.69 percent, while Bon-hyuk owns 1.26 percent. LS Cable & System President and CEO Koo Bon-kyu, who owns a 1.17 percent stake in the holding company, has also been mentioned as a potential candidate for future leadership. The son of former LS C&S Chairman Koo Cha-yub has been credited with guiding the cable maker to record earnings last year. In 2024, the company’s operating profit reached 274.7 billion won ($186 million), contributing significantly to the group’s overall profitability.
LS Group remains cautious about speculation over its next leadership, as the incumbent chairman’s term does not end until 2030.