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LG Corporation

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LG Corporation (Hangul주식회사 LG), formerly Lucky-Goldstar (Korean: Leogki Geumseong; Hangul럭키금성; 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.

LG Corporation
주식회사 LG
Formerly
Lucky-Goldstar (1958–1995)
Public
Traded asKRX: 003550
IndustryConglomerate
Founded5 January 1947; 71 years ago (1947-01-05)
FounderKoo In-Hwoi
HeadquartersSeoul, South Korea
Area served
Worldwide
Key people
Koo Kwang-mo
(Nominated Chairman and CEO after Koo Bon-moo death)
Koo Bon-joon
(Vice Chairman)
Kang Yu-sig
(Vice Chairman and Co-CEO)
Cho Jun-ho
(President and COO)
ProductsElectronics, chemicals, telecommunications, engineering, information technology, power generation
RevenueUS$54.3 billion (2017)[1]
Number of employees
222,000 (2012)[1]
SubsidiariesLG Electronics
LG Display
LG Uplus
LG Chem
LG Life Sciences
LG Solar Energy
LG Household & Health Care
Websitelgcorp.com
lg.com
Korean name
HangulLG법인
HanjaLG法人
Revised RomanizationLG Beobin
McCune–ReischauerLG Pŏbin
(Formerly)
Hangul럭키금성
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)

Contents

HistoryEdit

LG Corp. established as Rak-Hui Chemical Industrial Corp. in 1947.[3] In 1952, Rak-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.

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 hygiene products such as soaps and HiTi laundry detergents, but the brand was mostly associated with its Lucky and Perioe toothpaste. Even today, LG continues to manufacture some of these products for the South Korean market, such as laundry detergent.

In 1995, to compete better in the Western market, the Lucky-Goldstar Corporation was renamed "LG". 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.

Joint venturesEdit

Since 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.[4] In 2005, LG entered into a joint venture with Nortel Networks, creating LG-Nortel Co. Ltd.

International marketsEdit

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.[5]

On 20 January 2013, Counterpoint Research announced that LG has overtaken Apple to become second largest in U.S. market share.[6]

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.[7]

Edit

The company logo of LG features a circle containing the letters "L" and "G", presented in the form of a smiling human face.[8][9]

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

Associated companiesEdit

Structure and financial positionEdit

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[10]
Electronic industry LG Electronics
LG Display
LG Innotek
LG Siltron
Lusem
US$55.8 billion[11]
US$25.9 billion[12]
US$5.9 billion[13]
N/A
N/A
Chemical industry LG Chem
LG Household & Health Care
LG Hausys
LG Life Sciences
LG MMA
US$22.2 billion[14]
US$4.1 billion[15]
US$2.6 billion[16]
N/A
N/A
Telecommunication and Services LG Uplus
LG International Corp.
LG CNS
SERVEONE
LG N-Sys
US$11 billion[17]
US$11.6 billion[18]
N/A
N/A
N/A

Group families[19]Edit

Electronics industriesEdit

Chemical industriesEdit

TelecommunicationsEdit

Sports sponsorshipEdit

Brand ambassadorsEdit

ReferencesEdit

  1. ^ a b "LG overview". LG corp. Retrieved 2013-04-07.
  2. ^ "Overview". LG Corp. Retrieved on 6 January 2010. "Address: LG Twin Towers, 20 Yeouido-dong, Yeongdeungpo-gu, Seoul 150–721, Korea"
  3. ^ LG History Archived 19 November 2008 at the Wayback Machine.
  4. ^ LG Display shares drop 5.4 percent on Philips stake sale. Reuters. Retrieved on 11 November 2010.
  5. ^ comScore Reports October 2012 U.S. Mobile Subscriber Market Share – comScore, Inc. Comscore.com (2012-11-30). Retrieved on 2013-07-12.
  6. ^ (in Korean) LG Electronics returns to 2nd place in U.S. handset market. Yonhap News (2013-01-20). Retrieved on 2013-07-12.
  7. ^ comScore Reports June 2013 U.S. Smartphone Subscriber Market Share – comScore, Inc. Comscore.com (2013-08-07). Retrieved on 2013-08-14.
  8. ^ "Our Brand". LG Electronics. Retrieved 20 August 2013.
  9. ^ "LG Logo: Design and History". FamousLogos.net. Retrieved 2011-10-12.
  10. ^ "LG CORP (003550:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 2018-09-03.
  11. ^ "LG ELECTRONICS INC (066570:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 2018-09-06.
  12. ^ "LG DISPLAY CO LTD (034220:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 2018-09-21.
  13. ^ "LG INNOTEK CO LTD (011070:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 2018-10-02.
  14. ^ "LG CHEM LTD (051910:Korea SE): Financial Statements - Bloomberg". businessweek.wallst.com. Retrieved 2018-10-22.
  15. ^ "Lg Household & Health Care (051900:Korea SE)". businessweek.com. Retrieved 2014-04-24.[permanent dead link]
  16. ^ "Lg Hausys Ltd (108670:Korea SE)". businessweek.com. Retrieved 2014-04-24.[permanent dead link]
  17. ^ "Lg Uplus Corp (032640:Korea SE)". businessweek.com. Retrieved 2014-04-24.[permanent dead link]
  18. ^ "Lg International Corp (001120:Korea SE)". businessweek.com. Retrieved 2014-04-24.[permanent dead link]
  19. ^ LG.com. "Our Businesses - The Official Site of LG Group". www.lgcorp.com.

External linksEdit