LG Corporation is a South Korean conglomerate that specialises in the manufacturing of home entertainment electronics, chemicals and Telecom Solutions. LG’s main subsidiaries include Zenith, LG Display and LG Electronics. Originally founded by the Koo and Huh families in 1947, the business group started selling face creams before finding a market as a chemical company. Later, they formed two separate companies, Lucky and Goldstar, before they were merged in 1983 to form Lucky-Goldstar. In 1995, the company was rebranded as LG Corporation. Goldstar holds the claim to fame of producing the very first radio in South Korea. LG currently has more than 220,000 employees and earned 54.3 billion dollars in revenue in 2017 from markets in 80 different countries around the world. Founder Koo Cha-kyung was succeeded by his son Koo Bon-moo, who served as chairman of the corporation from 1995 until his death in 2018. His adopted son, Kwang-Mo, was installed as CEO in June 2018. In Forbes 2018 annual rankings, LG Corporation came in at number 394 in World’s Best Employers and number 247 for Best Regarded Companies. In 2018, LG placed seventh on the global smartphone market rankings, with 3.2 per cent of the global market.
- Family name: Koo and Huh families
- Sector: Technology
- Founded: 1947
- Founder: Koo Cha-kyung
- Country: South Korea
- Company headquarters: Seoul, South Korea
- Managers: Koo Kwang-mo
- Revenue: US$48 billion
- Rankings: 178 [Fortune 500]
- Family ownership: 37.5%
- Employees: 37,902
- Website: http://www.lgcorp.com/
