Richest under 40: Koo Gwang-mo

[BORN TO BE RICH] Among South Korea's richest aged 40 years or younger, LG chairman’s the adopted son Koo Gwang-mo, 38, of LG Group is the wealthiest.

His net worth is estimated at 751.8 billion won (US$650.5 million).

Koo is the great grandson of LG’s founder, the late Koo In-hoe. He was born to Heesung Group chairman Koo Bong-neung, but was adopted by his uncle Koo Bon-moo, chairman of LG. 

Gwang-mo is currently a vice president of LG Corp. He was promoted to the executive level in 2014 after entering LG Electronics in 2006.

Koo has a 6.03 percent stake in LG Corp., the holding company of LG. His stocks were worth 676.6 billion won as of this May. He also has 32 billion won worth of LG International stocks.

Among unlisted stocks, Koo has a 7 percent stake in Pantos Logistics that was acquired for 43.2 billion won.

By Kim Ji-hyun (jemmie@heraldcorp.com)