LG Corporation(orLG Group),[b]formerly known asLucky-Goldstar,[c]is a South Koreanmultinationalconglomeratefounded byKoo In-hwoiand managed by successive generations of his family. It is the fourth-largestchaebol(family-run conglomerate) in South Korea. Its headquarters are in the LG Twin Towers building inYeouido-dong,Yeongdeungpo District,Seoul.[3]LG makeselectronics,chemicals,household appliances,andtelecommunicationsproducts and operates subsidiaries such asLG Electronics,Zenith,LG Display,LG Uplus,LG Innotek,LG Chem,andLG Energy Solutionin over 80 countries.
 Logo used since 30 December 2014[a] | |
 Headquarters atYeouido-dong, Yeongdeungpo DistrictinSeoul,South Korea | |
Native name | 주식회사 엘지 |
|---|---|
| Formerly | Lucky (1947-1983) Lucky-Goldstar (1983–1995) |
| Company type | Public |
| KRX:003550 | |
| Industry | Conglomerate |
| Founded | 5 January 1947(as Lucky-Goldstar) 4 January 1995(as LG) |
| Founder | Koo In-hwoi |
| Headquarters | , South Korea |
Area served | Worldwide |
Key people | |
| Products | |
| Revenue | KRW 83.5 trillion (approx. US$62.32 billion) (2023)[1] |
| Owners |
|
Number of employees | 222,000 (2023)[3] |
| Subsidiaries | |
| Website | lgcorp |
History
editLG Corporation was established asLak Hui Chemical Industrial Corp.in 1947 byKoo In-hwoi.[4]In 1952, Lak Hui (락희) (pronounced "Lucky"; now LG Chem) became the first South Korean company to enter theplastics industry.As the company expanded its plastics business, it establishedGoldStarCo. Ltd. (now LG Electronics Inc.) in 1958. Both companies Lucky and GoldStar merged to form Lucky-Goldstar in 1983.[5]
GoldStar produced South Korea's firstradio.[5]Manyconsumer electronicswere 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 hygiene products such as soaps and HiTi laundry detergents, but the brand was mostly associated with its Lucky and Perioetoothpaste.LG continues to manufacture some of these products for the South Korean market.
Koo In-hwoi led the corporation until his death in 1969, at which time, his sonKoo Cha-kyungtook over. He then passed the leadership to his son,Koo Bon-moo,in 1995. Koo Bon-moo renamed the company to LG in that year.[5]The company then trademarked the letters LG with the company's tagline "Life's Good". Since 2009, LG has owned thedomain nameLG.com.
Koo Bon-moo died of abrain tumoron 20 May 2018.[6]In July 2018, it was announced that Koo Kwang-mo, the nephew and adopted son of Koo Bon-moo, will be the new CEO of LG. Koo Bon-moo adopted his nephew in 2004, after losing his only son in 1994,[7]citing "a family tradition of male-only succession".[8]
LG jingle
edit| LG jingle | |
|---|---|
 Sample of the jingle[0:03]via |
The G-E-F-D-E-C-C'jinglewas produced byMusikvergnuegenand written byWalter Werzowa(who had previously composed theIntel bong) in 2008. The jingle has been featured in LG commercials and devices and is recognised worldwide.[citation needed]
Logo history
edit-
1995–2014 -
2008–2014 -
2014–present -
2023–present (secondary)
Businesses
edit
LG Corporation is aholding companythat 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, fromthin-film-transistor liquid-crystal displaysto security devices andsemiconductors.In the chemical industry,subsidiariesmanufacture 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 theCoca-ColaKorea Bottling Company, manages real estate, offersmanagement consulting,and operates professional sports clubs.[10]
Subsidiaries
editJoint ventures
editLG andHitachicreated joint ventures namedHitachi-LG Data Storagein 2000 and LG Hitachi Water Solutions in 2011; among other partnerships it has had, LG has a long relationship with Hitachi dating back to the early years of Goldstar. Since then Hitachi has transferred technologies for LG's products such as radios, wires, TVs, home appliances, semiconductors, etc. The first joint venture between the two is LG Hitachi, which has been around since 1980s when it was established to import computers to Korea.[11]
LG had two joint ventures withRoyal Philips Electronics:LG Philips DisplayandLG Philips LCD,but Philips sold off its shares in late 2008.[12]
In 2005, LG entered into a joint venture withNortel Networks,creatingLG-Nortel Co. Ltd.
In 2020, LG and Canadian auto supplierMagna Internationallaunched a joint venture known as LG Magna e-Powertrain. The new joint venture will manufacture components used inelectric carssuch as electric motors, inverters and onboard chargers.[13]
Associated companies
editSports sponsorship
editLG owns the South Korean professional baseball teamLG Twins,and is the main sponsor of basketball teamChangwon LG Sakers.LG is also a partner of the American professionalbaseballteamTexas Rangers.[14]
LG also sponsored football clubsGirondins de Bordeauxfrom 1999 to 2000,Leicester City F.C.from 2001 to 2003,Olympique Lyonnaisfrom 2004 to 2006,AEK Athensfrom 2006 to 2009,Fulham F.C.from 2007 to 2010 andBayer 04 Leverkusenfrom 2013 to 2016.[citation needed]
Notes
editReferences
edit- ^"LG Electronics | LG Announces 2022 Financial Results"(Press release). LG Communication Center. 30 January 2023.Retrieved19 December2023.
- ^abc"지분현황 | LG 003550"[Equity Status | LG 003550].Company Wise(in Korean). FnGuide. n.d.Retrieved19 December2023.
- ^ab"Corporate information".LG Global. n.d.Retrieved19 December2023.
- ^"HISTORY — The Official Site of LG Group".lg.net.Archived fromthe originalon 19 November 2008.
- ^abcSong, Su-hyun (12 February 2017)."LG founder bequeaths principle of harmony, sustainable growth".The Korea Herald.
- ^"LG Chair Koo Bon-moo, Who Ran Company for 23 Years, Dies at 73".Fortune.20 May 2018.Retrieved29 April2019.
- ^Kim, Hooyeon; Park, Kyunghee (20 May 2018)."LG Chair Koo Bon-Moo Dies, Leaves Company to Adopted Son".Bloomberg News.Retrieved20 May2018.
- ^Lee, Ji-yoon (10 July 2018)."LG's Koo Bon-joon prepares to depart".The Investor.Retrieved29 April2019.
- ^"LG updates global brand identity to appeal to Gen Z".Campaign Asia.12 April 2023.Retrieved19 December2023.
- ^LG.com."Our Businesses – The Official Site of LG Group".lgcorp.com.Archived fromthe originalon 25 April 2017.
- ^"회사소개 | LG히다찌 주식회사 | 연혁"[About the Company | LG Hitachi Co., Ltd. | History].lghitachi.co.kr(in Korean). n.d. Archived fromthe originalon 19 May 2021.
- ^"LG and Magna announce billion dollar joint venture in electric car gear".CNBC. Reuters. 23 December 2020.Retrieved19 December2023.
- ^"Texas Rangers, LG Twins announce partnership agreement"(Press release). Major League Baseball. 21 February 2018.Retrieved19 December2023.
External links
edit
- Official website
- Business data for LG Corporation: