LG Group

The LG Group , third largest conglomerate that manufactures electronics, chemicals and telecommunications products and operates subsidiaries like LG Electronics, LG Display, LG Telecom and LG Chem in over 80 countries. LG is a producer of mobile handsets, flat panel TVs, air conditioners, washing machines, optical storage products, DVD players and home theater systems. LG Electronics Mobile Communication Company (LG) is a producer of mobile handsets.

LG Group founder Koo In-Hwoi established Lak-Hui Chemical Industrial Corp. in 1947. 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., now 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.

Companies
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. 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.

(Source:WIkipedia)

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