LG

LG Group
	File:LG.svg
Company type	Public
Industry	Electronics, Finances, Insurance
Founded	1947
Headquarters	Seoul, South Korea
Key people	Koo Bon-Moo, CEO
Revenue	$61 billion USD
Number of employees	160,000[1]

File:Goldstar logo.gif

GoldStar logo, prominently used before the introduction of the LG logo

LG Group is a large South Korean chaebol (conglomerate), which produces electronics, mobile phones, and petrochemical products and operates subsidiaries like LG Electronics. LG Group sponsors the LG Cup Go Tournament.

Created in 1947, it assumed the abbreviated name of "LG" in 1995. LG is an abbreviation of "Lucky Geumseong" (럭키금성) in South Korea, which is translated into English as Lucky Venus (Goldstar). Before then, 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 household cleaning products and laundry detergents in South Korea. Before massive industrialization of South Korean society, the name Lucky was synonymous with toothpaste. More recently, the company has attempted to update its moniker by suggesting that "LG" stands for "Life's Good" (as evidenced by the current company tagline), though cynics view this as baptismal back-pedaling.

Companies

Since 2001, LG has two joint ventures with Royal Philips Electronics: LG Philips Display and LG.Philips LCD. LG has made a joint venture with Nortel Networks and has created LG-Nortel Co. Ltd.

LG also has a joint venture with Hitachi which manufactures optical data storage solutions like DVD-ROM drives, CD writers, etc. LG has owned the LG Twins baseball club since 1989.

LG acquired a majority share of the American television manufacturing company Zenith in 1995.

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Companies

Associated companies

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