Saturday, March 22, 2014
LG CORPORATION, formerly Lucky
Goldstar is a South Koreanmultinational conglomerate corporation. It is the fourth-largest company of its kind
in South Korea. Its headquarters are situated in the LG Twin Towers
building in Yeouido-dong, Yeongdeungpo-gu, Seoul. LG makes electronics, chemicals, and telecom products and operates subsidiaries such as LG Electronics, Zenith, 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. In 1952, Lak-Hui (pronounced
"Lucky", currently LG Chem) became the first Korean company to enter
the plastic industry. As the company expanded its plastic business, it
established GoldStarCo. 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", which is actually a backronym. Since 2009, LG has owned
the domain name LG.com.
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