The LS-Nikko Copper chairman Koo Cha-myung, dubbed “copper man” in Korea, has died of a chronic illness, the company announced on Thursday.

The 62-year-old chairman, the third son of the LS Group founder Koo Tai-hwoi, helped LS-Nikko Copper make a quantum leap in the global copper industry.

The nonferrous metal company LS-Nikko Copper is known for its exclusive, top-class technology for extracting gold from copper.

Since the late Koo became CEO of the company in 2005, he was credited with various achievements. For example, he carried forward management innovation and expanded business through overseas resources development and urban mine development, thus helping increase sales from 2 trillion won ($1.8 billion) to 9.5 trillion won in just six years.

The late Koo was passionately involved in international activities as well. He not only made efforts to improve the domestic and international nonferrous metal industry but also to create new demand for copper.

In 2009, he served as the Korean honorary consul to Chile, the world’s largest copper producer, supporting cordial exchanges between the two countries.

All these efforts made him the first person in Korea to receive the Copper Man of the Year award last year, which is the greatest honor in the global copper industry.

However, his health deteriorated due to cancer in his biliary, leaving him no choice but to resign from his post as CEO in March.

By Lee Hee-ju (hjlee0301@heraldcorp.com)