On July 26, LG Telecom appointed Jung Il-jae, formerly executive vice president at LG Corp., as the new CEO to succeed Nam Yong who had to resign as the company failed to meet conditions set out by the government to start the 3-G mobile telephony service IMT2000. The 47-year-old Jung, who joined the LG Economic Research Institute in 1990, moved to LG Corp. in 2003 and took charge of supervising LG Group's telecom business.