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(Redirected from LG Group)
"LG" redirects here. For other uses, see LG (disambiguation).
The LG Corp (Korean: LG 법인) is South Korea's second 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 Corp 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 line of hygiene products such as soaps and Hi-Ti laundry detergents, but most associated with its Lucky and Perioe toothpaste.
In 1995, to better compete in the Western market, the company was renamed "LG", the abbreviation of "Lucky Goldstar". More recently, the company associates the letters LG with the company tagline "Life's Good". Since 2009, LG also owns the domain name LG.com.
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.[4] 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
LG Display (Korean: LG디스플레이, KRX: 034220) is the world's second largest LCD maker,[1] after Samsung Electronics. Currently, the two South Korean companies together exceed 50% of the global LCD market[2]. LG Display is headquartered in Seoul, South Korea.
History
LG Display was originally formed as a joint venture by the Korean electronics company LG Electronics and the Dutch company Koninklijke Philips Electronics in 1999 to manufacture active matrix liquid crystal displays (LCDs) and was formerly known as LG.Philips LCD, but Philips sold off its all shares in late 2008.[3]
On December 12th 2008, LG.Philips LCD announced its plan to change its corporate name to LG Display upon receiving approval at the company's annual general meeting of shareholders on February 29. The company claimed the name
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