Lucky Group

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LG Group
LG 그룹
Type Public (KRX: 003550)
Founded 1947 in Busan, South Korea
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)
Industry conglomerate
Products electronics
chemicals
telecommunications
Revenue ▲ $104.3 billion (115 Trillion KRW, 1 USD = 1102.6 KRW) (2008)[1]
Employees 177,000 (2008)[2]
Subsidiaries LG Electronics
LG Display
LG Telecom
LG Chem
Website LG.com

The LG Group ("Lucky Goldstar", Korean: LG 그룹) is South Korea's third largest conglomerate that produces electronics, chemicals, and telecommunications products and operates subsidiaries like LG Electronics, LG Display, LG Telecom and LG Chem in over 80 countries.

LG Group 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 plastics industry. As the company expanded its plastics business, it established GoldStar Co., Ltd., (currently LG Electronics Inc.) in 1958.

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

In 1995, so as to better compete in the Western market, the company was renamed "LG", the abbreviation of "Lucky Goldstar". More recently, the company associates its tagline "Life's Good", with the letters LG. Since 2009, LG also owns the domain name LG.com. It is now in the VB.com Internet Hall of Fame among 59 large corporations to own a two letter domain name.[4]

Contents

Companies

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, but Philips sold off its shares in late 2008.[5] Also LG has entered into a joint venture with Nortel Networks and has created LG-Nortel Co. Ltd. LG 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

Electronics industries

Chemical industries

  • LG Chem
  • LG DOW Polycarbonate
  • SEETEC
  • LG Household & Health Care
  • Coca·Cola Beverage Company
  • LG Hausys
  • LG TOSTEM BM
  • LG Life Sciences
  • LG MMA

Telecommunications and Services

  • LG Telecom
  • CS Leader
  • A•IN
  • LG Dacom
  • LG Powercom
  • DACOM Crossing
  • DACOM Multimedia Internet
  • CS ONE Partner
  • LG CNS
  • LG N-Sys
  • V-ENS
  • BIZTECH & EKTIMO
  • Ucess Partners
  • SERVEONE
  • LG International
  • TWIN WINE
  • Geovine
  • pixdix
  • Korea Commercial Vehicle
  • LG Solar Energy
  • G2R
  • HS Ad
  • Wisebell
  • TAMS Media
  • Alchemedia
  • W Brand Connection
  • Twenty Twenty
  • M. Hub
  • Pressline
  • G Outdoor
  • Bugs Com Ad
  • L. Best
  • LG Management Development Institute: Economic Research Institute
  • LG Management Development Institute: Academy
  • LG Sports

References

  1. ^ LG > LG소개 > LG현황
  2. ^ http://www.lg.com/about/overview.jsp?section=obj_overview&from=main
  3. ^ http://www.lg.net/about/history/history01.jsp
  4. ^ VB.com List of Large Corporations that own their Acronym as a Two Letter Domain
  5. ^ http://www.reuters.com/article/hotStocksNews/idUSTRE52B0BN20090312

External links


Companies portal

Open source encyclopedia content modification information:

This page was last modified on 10 March 2010 at 03:45.

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