LG Corporation

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LG Group (Corporation)
주식회사 LG
Formerly
Lucky-Goldstar (1958–1995)
Public
Traded asKRX: 003550
IndustryConglomerate
Founded5 January 1947; 72 years ago (1947-01-05)
FounderKoo In-hwoi
HeadquartersSeoul, South Korea
Area served
Worldwide
Key people
Koo Kwang-mo
(Chairman and CEO)
Kwon Young-soo
(Vice Chairman)
ProductsElectronics, chemicals, telecommunications, engineering, information technology, power generation
RevenueUS$147.2 billion (2018)
Number of employees
222,000 (2012)[1]
SubsidiariesLG Electronics
LG Display
LG Uplus
LG Chem
LG Solar Energy
LG Household & Health Care
Websitelgcorp.com
lg.com
Korean name
Hangul
LG법인
Hanja
LG法人
Revised RomanizationLG Beobin
McCune–ReischauerLG Pŏbin
(Formerly)
Hangul
럭키금성
Hanja
樂喜金星
Revised RomanizationLeogki Geumseong
McCune–ReischauerLŏkki Kǔmsŏng
Stake ownership structures (as of 2012)
An LG microwave oven
LG's ad campaigns have sometimes utilized celebrities such as South Korean pop girl group Girls' Generation for their products, such as this for the LG Cookie cell phone in 2010.
LG Side-By-Side Refrigerator (KF-P8903 HLP)

LG Corporation (Korean주식회사 LG), formerly Lucky-Goldstar (Korean: Leogki Geumseong; Korean럭키금성; Hanja樂喜金星), is a South Korean multinational conglomerate corporation. It is the fourth-largest chaebol in South Korea. It is headquartered in the LG Twin Towers building in Yeouido-dong, Yeongdeungpo District, Seoul.[2] LG makes electronics, chemicals, and telecom products and operates subsidiaries such as LG Electronics, Zenith, LG Display, LG Uplus, LG Innotek and LG Chem in over 80 countries.

History[edit]

LG Corp. established as Lak Hui Chemical Industrial Corp. in 1947.[3] In 1952, Lak Hui (pronounced "Lucky", currently LG Chem) became the first South 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. Both companies Lucky and GoldStar merged and formed Lucky-Goldstar in 1983.[4]

GoldStar produced South Korea's first radio.[4] 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 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.[4] 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".[5] Koo Kwang-mo's father died of a brain tumor on May 20, 2018.[6]

Joint ventures[edit]

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.[7] In 2005, LG entered into a joint venture with Nortel Networks, creating LG-Nortel Co. Ltd.

International markets[edit]

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.[8]

On 20 January 2013, Counterpoint Research announced that LG has overtaken Apple to become second largest in U.S. market share.[9]

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.[10]

[edit]

The company logo of LG features a circle containing the letters "L" and "G", presented in the form of a smiling human face.[11][12]

The audio logo is used in radio commercial and TV commercial that is 7 note jingle for LG.[citation needed]

Associated companies[edit]

Structure and financial position[edit]

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 Companies 2013 Division revenue (in billions USD)
Holding company LG Corp. US$8.8 billion[13]
Electronic industry LG Electronics
LG Display
LG Innotek
US$55.8 billion[14]
US$25.9 billion[15]
US$5.9 billion[16]
N/A
N/A
Chemical industry LG Chem
LG Household & Health Care
LG Hausys
LG MMA
US$22.2 billion[17]
US$4.1 billion[18]
US$2.6 billion[19]
N/A
N/A
Telecommunication and Services LG Uplus
LG International Corp.
LG CNS
SERVEONE
LG N-Sys
US$11 billion[20]
US$11.6 billion [20]
N/A
N/A
N/A

Group families[21][edit]

Electronics industries[edit]

Chemical industries[edit]

Telecommunications[edit]

Sports sponsorship[edit]

LG owns the LG Twins, is the main sponsor of Changwon LG Sakers and a partner of the Texas Rangers (baseball).[22]

Brand ambassadors[edit]

References[edit]

  1. ^ "LG overview". LG corp. Archived from the original on 23 June 2013. Retrieved 7 April 2013.
  2. ^ "Overview". LG Corp. Retrieved on 6 January 2010. "Address: LG Twin Towers, 20 Yeouido-dong, Yeongdeungpo-gu, Seoul 150–721, Korea"
  3. ^ "HISTORY - The Official Site of LG Group". www.lg.net. Archived from the original on 19 November 2008.
  4. ^ a b c Song, Su-hyun. "LG founder bequeaths principle of harmony, sustainable growth". The Korea Herald.
  5. ^ Ji-yoon, Lee (10 July 2018). "The Investor". Retrieved 29 April 2019.
  6. ^ "LG Chair Koo Bon-moo, Who Ran Company for 23 Years, Dies at 73". Fortune. 20 May 2018. Retrieved 29 April 2019.
  7. ^ LG Display shares drop 5.4 percent on Philips stake sale. Reuters. Retrieved on 11 November 2010.
  8. ^ comScore Reports October 2012 U.S. Mobile Subscriber Market Share – comScore, Inc. Comscore.com (2012-11-30). Retrieved on 2013-07-12.
  9. ^ ‹See Tfd›(in Korean) LG Electronics returns to 2nd place in U.S. handset market. Yonhap News (2013-01-20). Retrieved on 2013-07-12.
  10. ^ comScore Reports June 2013 U.S. Smartphone Subscriber Market Share – comScore, Inc. Comscore.com (2013-08-07). Retrieved on 2013-08-14.
  11. ^ "Our Brand". LG Electronics. Retrieved 20 August 2013.
  12. ^ "LG Logo: Design and History". FamousLogos.net. Retrieved 12 October 2011.
  13. ^ "LG CORP (003550:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 3 September 2018.
  14. ^ "LG ELECTRONICS INC (066570:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 6 September 2018.
  15. ^ "LG DISPLAY CO LTD (034220:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 21 September 2018.
  16. ^ "LG INNOTEK CO LTD (011070:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 2 October 2018.
  17. ^ "LG CHEM LTD (051910:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 22 October 2018.
  18. ^ "Lg Household & Health Care (051900:Korea SE)". businessweek.com. Retrieved 24 April 2014.[permanent dead link]
  19. ^ "Lg Hausys Ltd (108670:Korea SE)". businessweek.com. Retrieved 24 April 2014.[permanent dead link]
  20. ^ a b "Consumer Durable Sector Analysis | Top 8 Consumer Products Companies In India". investyadnya.in. Retrieved 20 December 2018.
  21. ^ LG.com. "Our Businesses - The Official Site of LG Group". www.lgcorp.com. Archived from the original on 25 April 2017. Retrieved 7 April 2017.
  22. ^ "Texas Rangers, LG Twins announce partnership agreement". Major League Baseball. 21 February 2018. Retrieved 22 June 2019.

External links[edit]