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"LG" redirects here. For other uses, see LG (disambiguation).
LG Group
Company typePublic (KRX: 003550)
IndustryConglomerate
Founded1947 in Busan, South Korea
HeadquartersSouth Korea Seoul, South Korea
Key people
Koo Bon-Moo, CEO
RevenueIncrease $94.8 billion[1] (2007)
Number of employees
160,000[2] (2006)
Websitewww.lg.com

The LG Group is South Korea's third largest conglomerate]] that produces electronics, mobile phones, and petrochemical products and operates subsidiaries like LG Electronics, LG Telecom, Zenith Electronics and LG Chem in over 80 countries. LG Group sponsors the LG Cup Go Tournament.

LG Group founder Koo In Hwoi established Lak Hui Chemical Industrial Corp. in 1947.[3] In 1952, Lak Hui (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.

In 1959, Goldstar produced 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 hygiene products line such as soaps and Hi-Ti laundry detergents, but most associated with its Lucky and Perioe toothpaste.

In 1995, it was renamed "LG", the abbreviation of "Lucky GoldStar". More recently, the company associates its tagline "Life's Good", with the letters LG. In January 2009 LG was able to buy the domain name LG.com - It is now among the list of large corporations to own a two letter domain name.[4]. The amount of the transaction remains confidential.

Companies

File:GoldStar Logo.svg
GoldStar logo, prominently used before the introduction of the LG logo.

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

LG also has a joint venture with Hitachi, Hitachi-LG Data Storage, which manufactures optical data storage products like DVD-ROM drives, CD writers, etc. LG has owned the LG Twins baseball club since 1989. LG acquired American television manufacturing company Zenith in 1999.

Associated companies

Group families

Joint ventures

References

  1. ^ LG > LG소개 > LG현황
  2. ^ http://www.lg.co.kr/korean/about/overview/overview.jsp
  3. ^ http://www.lg.net/about/history/history01.jsp
  4. ^ List of Large Corporations that own their Acronym as a Two Letter Domain
  5. ^ http://www.lgsoftindia.com/ LG Soft India

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