LG Group is the world’s largest company operating in the electronics, telecommunications and household appliances industry. The company was founded in 1947 by Lee Byung-chul in Seoul, South Korea. It currently employs over 100,000 people at its headquarters in Yeouido-dong and other offices around the world with 110 subsidiaries
LG offers a wide range of products including televisions, refrigerators, washing machines and cell phones, to name a few. LG also owns one of the four major Korean TV networks, LG U + TV, which broadcasts all over Asia via SKY PerfecTV! satellite TV service providers for non-Asian customers
LG Electronics Inc. was founded as GoldStar Co., Ltd. on January 13, 1958 by Ri Ki-seong, Lee Byung-chul and Koo In-hwoi. The company started as a manufacturer of electronic components and produced the first Korean radios, televisions, refrigerators, washing machines and air conditioners.
GoldStar merged with Lucky Chemical Industrial Co., Ltd. in 1969 to form Lucky Goldstar and began producing TVs in 1970 under a Magnavox license. In 1978, LG Electronics produced the first color TV sets in South Korea.
In 1983, the company created the Home Appliances division with the acquisition of Lucky Chemical Industrial Corporation (LCM), a refrigerator manufacturer. In 1984, the company acquired Holly Corporation, a telecommunications company, and changed its name to LG Telecommunications Ltd.
In 1995, the company changed its name again to LG Electronics Inc. and established the home appliances division as LG Household & Healthcare Ltd.
In 2003, LG Electronics acquired Silicon Image, a semiconductor manufacturer, for $ 120 million. This acquisition allowed LG to enter the digital TV market for the first time.
LG Electronics entered the mobile phone market in 2004 with new touchscreen phones. In 2009, LG Electronics was one of two international brands to introduce a cloud-based TV with Panasonic EcoTV. LG’s product line includes TVs, home theater systems and other multimedia devices, smartphones and tablets.
LG Electronics USA Lab Inc. operates a research and development facility in New Jersey that specializes in video technology, information and communication technology, lighting technology, semiconductor design, and cell phones. The company is headquartered in Yeouido-dong, Seoul.
Koo Bon-joon has been the CEO of LG Group since January 2013, replacing his father, Koo Bon-moo.
LG Group’s mission is to “become a global leader in digital convergence of products and services by providing seamless access to content and services across platforms.”