LG Corporation


LG Corporation, formerly Lucky-Goldstar, is a South Korean multinational conglomerate corporation. It is the fourth-largest chaebol in South Korea. Its headquarters are in the LG Twin Towers building in Yeouido-dong, Yeongdeungpo District, Seoul. LG makes electronics, chemicals, and telecommunications products and operates subsidiaries such as LG Electronics, Zenith, LG Display, LG Uplus, LG Innotek and LG Chem in over 80 countries.

History

LG Corporation established as Lak Hui Chemical Industrial Corp. in 1947. In 1952, Lak Hui became the first South Korean company to enter the plastics industry. As the company expanded its plastics business, it established GoldStar Co. Ltd. in 1958. Both companies Lucky and GoldStar merged and formed Lucky-Goldstar in 1983.
GoldStar produced South Korea's first radio. Many consumer electronics were sold under the brand name GoldStar, while some other household products 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. LG continues to manufacture some of these products for the South Korean market, such as laundry detergent.
Koo Bon-moo renamed the company to LG in 1995. The company also associates the letters LG with the company's tagline "Life's Good". Since 2009, LG has owned the domain name LG.com.
In July 2018, it was announced that Koo Kwang-mo, the only son of Koo Bon-moo, will be the new CEO citing "first son-only succession rule".
Koo Kwang-mo's father died of a brain tumor on 20 May 2018.

Joint ventures

Since 2000, LG and Hitachi created a joint venture called the Hitachi-LG Data Storage. In 2001, LG had two joint ventures with Royal Philips Electronics: LG Philips Display and LG Philips LCD, but Philips sold off its shares in late 2008. In 2005, LG entered into a joint venture with Nortel Networks, creating LG-Nortel Co. Ltd.

International markets

On 30 November 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.
On 20 January 2013, Counterpoint Research announced that LG has overtaken Apple to become second largest in U.S. market share.
On 7 August 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.

Logo

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

Associated companies

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 Companies2013 Division revenue
Holding companyLG Corp.US$8.8 billion
Electronic industryLG Electronics
LG Display
LG Innotek		US$55.8 billion
US$25.9 billion
US$5.9 billion
N/A
N/A
Chemical industryLG Chem
LG Household & Health Care
LG Hausys
LG MMA		US$22.2 billion
US$4.1 billion
US$2.6 billion
N/A
N/A
Telecommunication and ServicesLG Uplus
LG International Corp.
LG CNS
SERVEONE
LG N-Sys		US$11 billion
US$11.6 billion
N/A
N/A
N/A

Group families

Electronics industries

LG owns the LG Twins and is the main sponsor of Changwon LG Sakers and a partner of the Texas Rangers.

Brand ambassadors