LG: Difference between revisions
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| location = Seoul, South Korea |
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| traded_as = {{Kse|003550}} |
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| foundation = 1947 |
| foundation = 1947 |
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| location = Seoul, South Korea |
| location = Seoul, [[South Korea]] |
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| key_people = Koo Bon-Moo, (Chairman, CEO)<br>Yu Sig Kang, ([[Chairman|Vice Chairman]], [[Chief executive officer|Co-CEO]])<br>Juno Cho, ([[Vice president|EVP]], COO, Director) |
| key_people = Koo Bon-Moo, (Chairman, CEO)<br>Yu Sig Kang, ([[Chairman|Vice Chairman]], [[Chief executive officer|Co-CEO]])<br>Juno Cho, ([[Vice president|EVP]], COO, Director) |
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| industry = [[conglomerate (company)|Conglomerate]] |
| industry = [[conglomerate (company)|Conglomerate]] |
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Revision as of 06:59, 28 August 2011
.svg) | |
| Company type | Public company |
|---|---|
| KRX: 003550 | |
| Industry | Conglomerate |
| Founded | 1947 |
| 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 Political parties |
| Revenue |  US$ 89.5 billion (2010)[1] |
| US$ 5.8 billion (2010)[2] | |
| Total assets | US$ 62.0 billion (2010)[2] |
Number of employees | 186,000 (2009) |
| Subsidiaries | LG Electronics LG Display LG Telecom LG Chem LG Life Sciences LG Solar Energy |
| Website | www |
LG Corp. (Korean: LG 법인) is the second largest South Korean conglomerate company, headquartered in the LG Twin Towers in Yeouido-dong, Yeongdeungpo-gu, Seoul.[3] LG produces electronics, chemicals, and telecommunications products and operates subsidiaries like LG Electronics, LG Display, LG Telecom and LG Chem in over 80 countries.
History
 | This section may require copy editing. (June 2011) |
LG Corp. founder Koo In-Hwoi established Lak-Hui Chemical Industrial Corp. in 1947.[4] In 1952, Lak-Hui (pronounced "Lucky", currently LG Chem) became the first Korean company to enter the plastics industry. As the company expanded its plastics business, it established GoldStar Co., Ltd., (currently LG Electronics Inc.) in 1958. Both companies Lucky and Goldstar merged and formed LG.
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 its line of hygiene products such as soaps and HiTi laundry detergents, but most associated with its Lucky and Perioe toothpaste.
In 1995, to better compete in the Western market, the company was renamed "LG", the abbreviation of "Lucky Goldstar". More recently, the company associates the letters LG with the company tagline "Life's Good" This tagline came from Australia, where many of the products are tested first by LG. Since 2009, LG also owns the domain name LG.com.[5]
In 1996 LG formed a joint venture with IBM.This joint venture was later terminated.[6]
In 1997, the Asian financial crisis occurred in Malaysia. Due to the crisis, LG Group and SK Group each took over equal stakes of United Malays National Organization.[citation needed]
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[7]
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.[8] In 2005, LG entered into a joint venture with Nortel Networks, creating LG-Nortel Co. Ltd.
LG has a joint venture with Hitachi, Hitachi-LG Data Storage, which makes optical data storage devices like DVD-ROM drives, CD writers, etc. LG acquired American television manufacturing company Zenith in 1999.
LG has owned the LG Twins baseball club in Seoul, South Korea since 1989.
The stocks are separated into four parts, 52% are owned by the CEO, 22% are distributed and the other 26% are owned by the next generation CEO who's currently attending a university in Orlando, Florida getting her degree in business and Recording Arts.[clarification needed]
Commodore Business Machines, rebranded products of GoldStar, Philips, Magnavox mostly monitor displays.[clarification needed][citation needed]
Associated companies
Group families
Electronics industries
Chemical industries
Telecommunications and services
References
- ^ [1]
- ^ a b "2010 Form 10-K, LG Corp". Fortune Global 500.
- ^ "Overview." LG Corp. Retrieved on 6 January 2010. "Address: LG Twin Towers, 20 Yeouido-dong, Yeongdeungpo-gu, Seoul 150–721, Korea"
- ^ http://www.lg.net/about/history/history01.jsp
- ^ LG.com position N° 90 in the VB.com Internet Hall of Fame
- ^ Kim, Yong-Young (31 August 2004). "IBM, LG winding down joint venture". CNET News. CBS Interactive. Retrieved 27 March 2011.
- ^ "LG Chem – Company Structure Information from ICIS". Reed Business Information, Ltd. Retrieved 30 March 2011.
- ^ LG Display shares drop 5.4 percent on Philips stake sale. Reuters. Retrieved on 11 November 2010.
External links
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