LG, also known as LG Corporation and previously known as Lucky-Goldstar, is a South Korean conglomerate corporation. Its headquarters are located in the LG Twin Towers building in Yeoudi-dong in the Yeongdeungpo District of Seoul in South Korea. LG was founded in 1947 with the name Lak Hui Chemical Industrial Corp by Koo In-hwoi, and was the first South Korean company to get involved in the plastics industry. LG manufactures electronics, chemicals, and telecom products. It also operates LG Electronics, Zenith, LG Display, LG Upus, LG Innotek, and LG Chem in more than 80 countries around the world. It is a leading producer of televisions, refrigerators, air conditioners, washing machines, and mobile devices.
LG stands for Lucky Goldstar, which represents the 2 companies, Lucky and Goldstar that merged to create the new company. Lucky stands for Lak-Hui which was the Chemical Industrial Corporation and Goldstar the first company to create South Korea’s consumer electronics. The company’s tagline then became “Life’s Good” which can also be abbreviated to LG.
LG was founded after the Korean War to help rebuild the South Korean nation with domestically-produced consumer electronics as well as home appliances. It was founded in October of 1958. LG was founded by Koo In-hwoi. LG’s first product was a radio and in 1959 began manufacturing it within the production line.
LG’s most popular products are its televisions, home theater systems, refrigerators, washing machines, computer monitors, and wearable devices. Other popular products are solar modules, smart appliances, and smartphones. LG has created various brand lines within its product categories. In 2018, LG was the 3rd largest LCD TV manufacturer in the world following Samsung and TCL.