LS : Striving for 'Leading Solution'
- The group of industrial electric, electronics and materials declares its
new corporate identity
Unveiling its new corporate identity, LS Group has declared a vision of growing into a world-class business group specializing industrial electric, electronics and materials.
LS Group Chairman John Koo said during a ceremony for declaring the new corporate logo, "We will make efforts to develop the domestic No. 1 leader of industrial electric, electronics and materials into a global leader."
About 500 participants of the ceremony held at the Grand InterContinental Hotel in Samsung-dong, Seoul, last March 14, included Rep. Maeng Hyung-kyu, chairman of the National Assembly Industry and Natural Resources Committee, Chinese Amb. to Korea Li Bin and other diplomatic missions, LG Group Chairman Koo Bon-moo, and GS Group Chairman Hur Chang-soo.
LS Chairman Koo elaborated on his plan that the company, which has a Chinese operation of wiring for the automotive industry, will mainly target emerging markets such as China and India. LS Group plans to actively publicize the LS brand on the markets as well as in Korea.
The new name of the group, LS stands for "Leading Solution," as LS Chairman Koo claimed, "Always with our customers, the group will try to grow into a global company that offers leading solutions to customers." The arrow of the new CI symbolizes an ever-growing company with strong determination for the future and new paradigm, said group officials, adding that the color of the letters red represents a pioneer spirit and forward-looking thinking, the blue represents integrity and solidity and the smooth line of the symbol, the hearts and soul of LS Group.
LS group has 17 subsidiaries, including such mainstay companies as LS Cable, LS Industrial Systems, LS-Nikko Copper, Gaon Cable, E1 and Kukdong City Gas. The group ranked 15th in terms of assets, with its combined assets amounting to 5.7 trillion won. It chalked up 500 billion won in operating profits on combined sales of 8.7 trillion won last year.
Regarding to relationships with LG and GS, the LS chairman said that he is ready to invite all forms of mutual cooperation
Last year, LS was spun off from LG Group, Korea's third-largest industrial group, along with GS Holdings Corp., putting an end to a nearly 60-year partnership between the Koo and Hur families.
LG Corp. the holding company of LG Group, has its mainstay operations like LG Electronics Inc. and LG Chem Co.
GS Holdings Corp., focusing on gas refining and retail, has such affiliates as LG-Caltex Corp. and LG Mart Co. which have been re-launched as GS-Caltex and GS Mart, respectively. nw