Chester Koo
Chester Koo | |
|---|---|
辜啟允 | |
| Born | 1952 |
| Died | 24 December 2001 (aged 48–49) |
| Education | Tunghai University (BA) University of Pennsylvania (MBA) |
| Father | Koo Chen-fu |
| Relatives | Leslie Koo (brother) |
Chester Koo (Chinese: 辜啟允; pinyin: Gū Qǐyǔn; Wade–Giles: Ku Ch'i-yün; 1952–2001) was a Taiwanese business executive. He was a third-generation member of the Koo family, a prominent business family in Taiwan.
Early life and education
[edit | edit source]Koo was in 1952 in Taipei.[1] After graduating from Taipei Municipal Chien Kuo High School, he studied economics as an undergraduate at Tunghai University and graduated with a bachelor's degree. He then completed graduate studies in the United States, earning a Master of Business Administration (M.B.A.) from the Wharton School of the University of Pennsylvania in 1979.[2][3]
Life and career
[edit | edit source]After his graduation and subsequent return to Taiwan, Koo managed a branch of Chinatrust Bank, and at age 35 was appointed president of the China Life Insurance Company.[4]
Koo later led many other Koos Group (KGI) subsidiaries and was active in the media industry.[5] He was responsible for KGI's 1997 acquisition of Chinese Television Network (CTN).[6]
Koo eventually sold CTN in January 2000, having never turned a profit.[6] In an attempt to increase the market share of China Network Systems (CNS), a cable company owned by KGI, Koo restructured CNS and sought investors to form a media conglomerate, becoming partners with Rupert Murdoch in the process.[7] Though he was credited with helping Koos Group gain a foothold in new industries,[6] many of Koo's investments were also regarded as risky, and multiple ventures lost money.[8] He resigned his position at China Life in December 2001.[9]
As a result, Koo became less involved with Koos Group business ventures, except for Hoshin Gigamedia Center Inc. which he had founded in October 1998.[10] Under his leadership, GigaMedia reached an agreement with Microsoft and began working on a set-top box design suitable for broadband Internet via cable services. In November 1999, Microsoft bought a ten percent stake in GigaMedia.[11] The next year, GigaMedia began work with Yahoo Inc. on building a website which offered multimedia entertainment to GigaMedia customers.[12]
Shortly after leaving China Life, Koo died from gallbladder cancer on 24 December 2001, aged 49.[13] Later, Leslie Koo split Koos Group holdings with cousin Jeffrey Koo. Together, the two returned KGI to profitability.[14]
Personal life
[edit | edit source]Chester Koo's father Koo Chen-fu and younger brother Leslie Koo were also businessmen. Chester Koo's only son was Koo Kung-yi.[15]
References
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