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.
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) |
Early life and education
editKoo was born 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
editAfter 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
editChester 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
edit- ↑ Chen, Ming-Jer (2003). Inside Chinese Business: A Guide for Managers Worldwide. Harvard Business Press. p. 40. ISBN 9781591393276.
- ↑ "Koo Family Gives $10 Million for New Educational Facility". Wharton Magazine. 1998. Retrieved 25 January 2017.
- ↑ Sherwin, Edward (13 April 1998). "Family gives $10m. to fund Wharton bldg". The Daily Pennsylvanian. Retrieved 25 January 2017.
- ↑ Curtin, Michael (2007). Playing to the World's Biggest Audience: The Globalization of Chinese Film and TV. University of California Press. p. 153. ISBN 9780520940734.
- ↑ "Wharton's Alumni Leadership in Asia". Wharton Magazine. 1998. Retrieved 25 January 2017.
- 1 2 3 Wong, Jesse; Dean, Jason (23 August 2001). "Chester Koo Blends Vision With an Impulsive Style". Wall Street Journal. Retrieved 25 January 2017.
- ↑ Chen, Yi-Shan; Lin, Judy (24 January 2014). "Where Taiwan's Billionaires Stash Their Cash". CommonWealth Magazine. No. Asia Today. Archived from the original on 2 February 2017. Retrieved 25 January 2017. Alt URL
- ↑ Dean, Jason (7 December 2001). "China Life's President, Chairman Resign In Restructuring of Taiwan's Koos Group". Wall Street Journal. Retrieved 25 January 2017.
- ↑ Huang, Joyce (7 December 2001). "Pundits praise China Life reshuffle". Taipei Times. Retrieved 25 January 2017.
- ↑ "Taiwan going all out for online expansion". Taiwan Today. 1 October 1999. Retrieved 25 January 2017.[dead link] Alt URL
- ↑ "Microsoft Takes 10% Stake In Broadband Firm GigaMedia". Wall Street Journal. 12 November 1999. Retrieved 25 January 2017.
- ↑ Nystedt, Dan (6 September 2000). "GigaMedia, Yahoo ink deal". Taipei Times. Retrieved 25 January 2017.
- ↑ "Chester Koo, a founder of GigaMedia, dies of cancer". Taipei Times. 25 December 2001. Retrieved 25 January 2017.
- ↑ "Preserving the Family Escutcheon". CommonWealth Magazine. 16 December 2010. Archived from the original on 25 December 2016. Retrieved 25 January 2017 – via China Post.
{{cite news}}: CS1 maint: bot: original URL status unknown (link) - ↑ Everington, Keoni (2 February 2017). "Cement empire line of succession starting to set in". Taiwan News. Retrieved 12 August 2019.