LG Corporation (often referred to as LG) is a multinational electronics and chemicals manufacturer-distributor. It also deals with TV communications and automotive goods. Created in South Korea, the corporation has become one of the largest of its kind.
With its headquarters in Seoul, it has opened countless subdivisions globally. Koo Kwang-mo is the current CEO and chairman of the world giant.
The LG Company Background
The enterprise was created in 1947 under the name of Lak Hui Chemical Industrial Corp. Initially, it produced goods like laundry detergents, toothpaste, and so on. Koo In-hwoi, who was the founder of the fledgling firm, quickly realized the brand potential. As the organization grew, it entered the plastics industry.
Ten years later, he established GoldStar Co. Ltd, which specialized in consumer electronics. Among the first achievements was the invention of the first South Korean radio receiver.
At that time, it was already clear that Koo In-hwoi’s son will take his place. After the founder passed away, both companies were merged to enter the market as Lucky-Goldstar in 1983. This father-to-son trend continued with Koo Bon-moo succeeding the brand. He was the one who renamed it LG in 1995.
The Main Business Lines
As of today, the company sticks with its initial focal area applying high technologies. It has more than a dozen of subsidiary brands, each working in its particular sphere. Many people choose LG for its home appliances along with computer products.
Respecting the traditions, it even keeps selling some of its hygiene products in South Korea. Overseas, it’s mostly known for electronics and energetics. This trademark is famous around the world for its top-notch quality and affordability.
The Path to Success
With its steady development, LG has received a lot of investments from the government. The National Pension Service of South Korea now holds a share in this corporation. It’s basically become “the country’s image” along with another electronics giant Samsung.
For its remarkable 75-year history, the corporation has countless awards. Among the latest prizes is the CES Innovation Award in 2018-2021. It was nominated for the best TV product in the iF Design Award in 2018. The TechRadar platform has admitted LG’s high quality of goods many times.
The LG Company’s Core Products
Speaking of products that gamers may like, it’s worth mentioning the UltraGear 38GN950 gaming monitor. This display boasts a 4K resolution along with a 160Hz refresh rate when overclocked. Its picture quality provides a complete immersion into any title making it feel real.
This is particularly difficult to separate the best LG laptop. All of them are quite affordable and demonstrate decent performance. One can use any of the latest models to play games or work at home. For instance, the Gram Ultralight example is what one may enjoy.
Having gone a long way to the present day, the corporation has saved its principles. It still manufactures and distributes high-end products in all spheres where it’s present.
FAQ About LG Company
No, LG is a South Korean company. It was established in 1947. At first, the corporation’s name was Lak Hui Chemical Industrial Corp. The brand began by producing laundry detergents, toothpaste, and so on. Following the first successes, the label switched to the plastic industry.
Its headquarters are in Seoul, South Korea. The company’s shares circulate on the Korean and English stock exchanges. About half of the shares are held by Korean investors. A quarter is owned by the company itself. The rest is controlled by investors from other countries.
In its early days, the company was called Lucky Goldstar. Their slogan is: “Life is Good”. It is homonymous with the name. The LG brand itself was founded with innovative changes in control and management. The name is an abbreviation and unification of all its internal departments and branches.
The firm is based in Seoul, South Korea. It is also headquartered in the capital but has several offices in numerous countries. This brand has many factories and labs around the world, including in its home country. The company has a wide distribution network of managers thanks to its extensive product sales.
No, they are two completely independent and separate corporations. Their similarities are the country in which they were founded and their line of business. Both companies produce high-tech equipment for people. And Samsung and LG make their devices in the same factories in South Korea.