Nam Boasts Proven IT Track Record
Nam Yong, vice chairman and chief executive of LG Electronics, is a 62-year-old who moves and talks like he is 20. Reputed as a bold decision-maker he never lets his wealth of experience get in the way of his quick trigger.
Since taking the management helm at LG Electronics in 2007, Nam is credited for his role for elevating the profile of the company, which has long departed from its old reputation as a ``poor man's Sony'' and continues to emerge as a source of innovative, premium products.
Although LG Electronics has established itself as a major player in consumer electronics and mobile devices, ranked the world's second-largest maker of flat-screen televisions and third-largest mobile phone maker, Nam continues to see room for growth.
Nam recently said that he wants LG Electronics to become more like Apple, a maker of innovative, game-changing products that allow consumers the freedom to create their own value.
Nam first joined LG Electronics in 1976, assigned to the company's overseas business planning division, and built a career as a global marketing specialist, a career that included a seven-year stint in the United States.
He first earned his stripes as a CEO when he led LG Telecom, the country's No. 3 mobile telephony operator, from 1998 to 2006. Under Nam's leadership, the company's revenue increased five-fold, from $560 million in 1998 to $2.6 billion in 2005, while subscribers grew from 2.1 million to nearly 7 million during that span. The growth was driven by the carrier's aggressive moves in the mobile data service, including the successful ``BankON'' mobile banking application.
Prior to taking the CEO position at LG Electronics, Nam served as the chief of strategic business for LG Corporation, and was responsible for the company's overall strategies.