Sungkwon Kang is a director at LG Technology Ventures (LGTV), a corporate venture capital (CVC) arm of South Korea-headquartered diversified conglomerate LG Corporation. LGTV has seven limited partners: LG Electronics, LG Chem, LG Energy Solution, LG Display, LG CNS, LG U+ and LG Innotek.
Regarding Kang, LG Technology Ventures CEO Dong-Su Kim said: “Although Sungkwon joined the CVC unit for less than a year, he already made a strong impact on the team.
“He diligently sources deals, participates in due diligence, and supported our managing directors on some marquee deals such as [paediatric neurodegenerative disease therapy developer] Allievex.
“Having worked in R&D, management consulting, and technology scouting, he brings a wealth of experience and skillset to become an expert corporate venture capitalist. I have very high expectations for years to come.”
Kang joined the LGTV unit in March 2021, having spent three years at LG Technology Center of America (LG TCA) as a director, where he supported eight major LG subsidiaries for their business development activities in North America.
Concerning what drew him to CVC, Kang said: “I believe CVC is one of the most effective ways to shape up the strategic direction of a corporate. Future opportunities are often shaped by visionary entrepreneurs, and seeing where capital flows can be a strong indicator for how the future will look like.
“Unless the corporation has its own conviction and wants to take a big bet and create its own future, it cannot beat the agility of a nimble startup, a quality necessary to plough ahead of the uncertain future. CVC investments in successful startups that balance the strategic needs and financial gains will serve like a crystal ball to take a glimpse of the future of business.”
- Originally published at https://globalventuring.com/ February 10, 2022.