LG Corp

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LG Corporation
LG 법인
Type Public
Traded as KRX: 003550
Industry Conglomerate
Founded January 5, 1947
Founder(s) Koo In-Hwoi
Headquarters Seoul, South Korea
Area served Worldwide
Key people Koo Bon-Moo
(Chairman & CEO)
Yu Sig Kang
(Vice Chairman & Co-CEO) Juno Cho, (EVP, COO, & Director)
Products Electronics, chemicals, telecommunications, engineering, information technology, power generation
Revenue US$143 Billion (2012)[1]
Employees 220,000 (2012)[1]
Subsidiaries LG Electronics
LG Display
LG Telecom
LG Chem
LG Life Sciences
LG Solar Energy
Website www.lgcorp.com
Korean name
Hangul LG법인
Hanja LG法人
Revised Romanization LG Beom'in
McCune–Reischauer LG Pŏm'in
(former)
Hangul 럭키금성
Hanja 樂喜金星
Revised Romanization Leogki Geumseong
McCune–Reischauer Lŏkki Kǔmsŏng
Stake ownership structures (As of 2012)
LG Twin Towers
An LG microwave oven
LG's ad campaigns have sometimes utilized celebrities such as South Korean pop girl group Girls' Generation for their products, such as this for the LG Cookie cell phone in 2010.
LG Side-By-Side Refrigerator (KF-P8903 HLP)

LG Corporation (Korean: LG 법인) formerly Lucky Goldstar (Korean:Leokki Geumseong (럭키금성/樂喜金星) ) is a South Korean multinational conglomerate corporation. It is the fourth-largest company of its kind in South Korea. Its headquarters are situated in the LG Twin Towers building in Yeouido-dong, Yeongdeungpo-gu, Seoul.[2] LG makes electronics, chemicals, and telecom products and operates subsidiaries such as LG Electronics, Zenith, LG Display, LG Telecom and LG Chem in over 80 countries.

History[edit]

LG Corp. founder Koo In-Hwoi established Lak-Hui Chemical Industrial Corp. in 1947.[3] In 1952, Lak-Hui (pronounced "Lucky", currently LG Chem) became the first Korean company to enter the plastic industry. As the company expanded its plastic business, it established GoldStar Co. Ltd. (currently LG Electronics Inc.) in 1958. Both companies Lucky and GoldStar merged and formed Lucky Goldstar.

GoldStar produced South Korea's first radio. Many consumer electronics were sold under the brand name GoldStar, while some other household products (not available outside South Korea) were sold under the brand name of Lucky. The Lucky brand was famous for hygiene products such as soaps and HiTi laundry detergents, but the brand was mostly associated with its Lucky and Perioe toothpaste. Even today, LG continues to manufacture some of these products for the South Korean market, such as laundry detergent.

In 1995, to compete better in the Western market, the Lucky-Goldstar Corporation was renamed "LG". The company also associates the letters LG with the company's tagline "Life's Good", which is actually a backronym. Since 2009, LG has owned the domain name LG.com.

Mergers[edit]

In 1996 LG formed a joint venture with IBM; it was later terminated.[4]

On 1 April 2000, LG Chemical was split into three separate companies, namely LGCI, LG Chem, and LG Household & Health Care. Later, in July 2007, LG Chem merged with LG Petrochemical.[5]

Joint ventures[edit]

Since 2001, LG has two joint ventures with Royal Philips Electronics: LG Philips Display and LG Philips LCD, but Philips sold off its shares in late 2008.[6] In 2005, LG entered into a joint venture with Nortel Networks, creating LG-Nortel Co. Ltd.

International markets[edit]

On November 30th 2012, comScore released a report of the October 2012 U.S. Mobile Subscriber Market Share that found LG lost its place as second in the U.S mobile market share to Apple Inc. [7]

On 20 January 2013, Counterpoint Research announced that LG has overtaken Apple to become second largest in US. market share. [8]

On August 7th 2013, comScore released a report of the June 2013 U.S. Smartphone Subscriber Market Share that found LG fell to fifth place in the U.S mobile market share. [9]

Sport ownership[edit]

LG has owned the LG Twins baseball club in Seoul, South Korea, since 1989.

[edit]

The company logo of LG features a circle containing the letters "L" and "G", presented in the form of a smiling human face.[10][11]

Associated companies[edit]

Structure of the Group and financial position[edit]

LG Corporation is a holding company that operates worldwide through more than 30 companies in the electronics, chemical, and telecom fields. Its electronics subsidiaries manufacture and sell products ranging from electronic and digital home appliances to televisions and mobile telephones, from thin film transistor-liquid crystal displays to security devices and semiconductors. In the chemical industry, subsidiaries manufacture and sell products including cosmetics, industrial textiles, rechargeable batteries and toner products, polycarbonates, medicines, and surface decorative materials. Its telecom products include long-distance and international phone services, mobile and broadband telecommunications services, as well as consulting and telemarketing services. LG also operates the Coca-Cola Korea Bottling Company, manages real estate, offers management consulting, and operates professional sports clubs.

Fields of activity Companies The division's revenue, billion USD(2013)
Holding company LG Corp. US$ 8.8 billion[12]
Electronic industry LG Electronics
LG Display
LG Innotek
LG Siltron
Lusem
US$ 55.8 billion[13]
US$ 25.9 billion[14]
US$ 5.9 billion[15]
N/A
N/A
Chemical industry LG Chem
LG Household & Health Care
LG Hausys
LG Life Sciences
LG MMA
US$ 22.2 billion[16]
US$ 4.1 billion[17]
US$ 2.6 billion[18]
N/A
N/A
Telecommunication and Services LG Uplus
LG International Corp.
LG CNS
SERVEONE
LG N-Sys
US$ 11 billion[19]
US$ 11.6 billion[20]
N/A
N/A
N/A

Group families[edit]

Electronics industries[edit]

Chemical industries[edit]

Telecommunications and services[edit]

Sports sponsorship[edit]

LG sponsors Bundesliga club Bayer Leverkusen
2008–09 AEK Athens F.C. home kit

References[edit]

  1. ^ a b "LG overview". .lgcorp.com. Retrieved 2013-04-07. 
  2. ^ "Overview." LG Corp. Retrieved on 6 January 2010. "Address: LG Twin Towers, 20 Yeouido-dong, Yeongdeungpo-gu, Seoul 150–721, Korea"
  3. ^ LG History
  4. ^ Kim, Yong-Young (31 August 2004). "IBM, LG winding down joint venture". CNET News. CBS Interactive. Retrieved 27 March 2011. 
  5. ^ "LG Chem – Company Structure Information from ICIS". Reed Business Information, Ltd. Retrieved 30 March 2011. 
  6. ^ LG Display shares drop 5.4 percent on Philips stake sale. Reuters. Retrieved on 11 November 2010.
  7. ^ comScore Reports October 2012 U.S. Mobile Subscriber Market Share – comScore, Inc. Comscore.com (2012-11-30). Retrieved on 2013-07-12.
  8. ^ (Korean) LG Electronics returns to 2nd place in U.S. handset market. Yonhap News (2013-01-20). Retrieved on 2013-07-12.
  9. ^ comScore Reports June 2013 U.S. Smartphone Subscriber Market Share – comScore, Inc. Comscore.com (2013-08-07). Retrieved on 2013-08-14.
  10. ^ "Our Brand". LG Electronics. Retrieved August 20, 2013. 
  11. ^ "LG Logo: Design and History". FamousLogos.net. Retrieved 2011-10-12. 
  12. ^ "Lg Corp (003550:Korea SE)". businessweek.com. Retrieved 2014-04-24. 
  13. ^ "Lg Electronics Inc (066570:Korea SE)". businessweek.com. Retrieved 2014-04-24. 
  14. ^ "Lg Display Co Ltd (034220:Korea SE)". businessweek.com. Retrieved 2014-04-24. 
  15. ^ "Lg Innotek Co Ltd (011070:Korea SE)". businessweek.com. Retrieved 2014-04-24. 
  16. ^ "Lg Chem Ltd (051910:Korea SE)". businessweek.com. Retrieved 2014-04-24. 
  17. ^ "Lg Household & Health Care (051900:Korea SE)". businessweek.com. Retrieved 2014-04-24. 
  18. ^ "Lg Hausys Ltd (108670:Korea SE)". businessweek.com. Retrieved 2014-04-24. 
  19. ^ "Lg Uplus Corp (032640:Korea SE)". businessweek.com. Retrieved 2014-04-24. 
  20. ^ "Lg International Corp (001120:Korea SE)". businessweek.com. Retrieved 2014-04-24. 

External links[edit]