Hoci Mini at 14:34, 25 August 2021

2021-08-25T14:34:46Z

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{{short description|South Korean multinational conglomerate corporation}}
{{Redirect-multi |3|LG|Life's Good|Lucky-Goldstar|other uses|Life Is Good (disambiguation)|and|LG (disambiguation)}}
{{Use dmy dates|date=May 2020}}
{{Update|date=October 2018}}
{{Infobox company
| name = LG Corporation {{nobold|{{lang|ko|주식회사 LG}}}}
| logo = LG logo (2015).svg
| former_name = Lucky-Goldstar (1983–1995)
| image = Korea-Seoul-Yeouido-LG Twin building-01.jpg
| image_size = 250px
| image_caption = Headquarters at [[Yeouido-dong]], [[Yeongdeungpo District]] in [[Seoul]], [[South Korea]]
| type = [[Public company|Public]]
| traded_as = {{Kse|003550}}
| founder = [[Koo In-hwoi]]
| area_served = Worldwide
| key_people = Koo Kwang-mo {{small |(Chairman and CEO)}} Kwon Young-soo {{small|(Vice Chairman)}}
| industry = [[Conglomerate (company)|Conglomerate]]
| products = [[Electronics]], [[chemical substance|chemicals]], [[telecommunications]], engineering, information technology, [[power generation]]
| revenue = [[South Korean won|KRW]] 156 trillion (2018)
| owners = {{ubl|[[Koo In-hwoi|Koo family]] (45.9%)<ref name="https://comp.wisereport.co.kr/company/c1070001.aspx?cn=&cmp_cd=003550"/>|[[National Pension Service]] (8.03%)<ref name="https://comp.wisereport.co.kr/company/c1070001.aspx?cn=&cmp_cd=003550"/>|[[Mirae Asset Financial Group]] (5.5%)<ref name="https://comp.wisereport.co.kr/company/c1070001.aspx?cn=&cmp_cd=003550"/>}}
| num_employees = 222,000 (2012)<ref name= "report">{{cite web |url= http://www.lgcorp.com/about/overview.dev |title= LG overview |publisher= LG corp |access-date= 7 April 2013 |archive-url= https://web.archive.org/web/20130623010200/http://www.lgcorp.com/about/overview.dev |archive-date= 23 June 2013 |url-status= dead }}</ref>
| subsid = {{ubl|[[LG Electronics]]|[[LG Display]]|[[LG Uplus]]|[[LG Chem]]|[[LG Solar Energy]]|[[LG Household & Health Care]]}}
| homepage = {{URL|lgcorp.com}}
| foundation = {{start date and age|df=yes|1947|01|05}}
| location = [[Seoul]], [[South Korea]]
}}
{{Infobox Korean name
|title=Korean name
|hangul={{lang|ko|주식회사 엘지}}
|hanja={{lang|ko|株式會社 LG}}
|rr=Jusikhoesa Elji
|mr=Chushikhoesa LG
|othername1=(Formerly)
|hangul1={{lang|ko|럭키금성}}
|hanja1={{lang|ko|樂喜金星}}
|rr1=Leogki Geumseong
|mr1=Lŏkki Kǔmsŏng
}}
{{South Korean economy}}
[[File:Weibolu.jpg|thumb|An LG microwave oven]]
[[File:SNSD Cooky Phone.jpg|thumb|right|LG's ad campaigns have utilized celebrities such as South Korean pop group [[Girls' Generation]] as in this ad for the [[LG Cookie (KP500)|LG Cookie]] cell phone in 2010.]]
[[File:LG refrigerator interior.jpg|thumb|right|LG Side-By-Side [[Refrigerator]] (KF-P8903 HLP)]]

'''LG Corporation (or LG Group)''' ({{Korean|hangul=엘지}}), formerly '''Lucky-Goldstar''' from 1983 to 1995 (Korean: ''Leokki Geumseong''; {{Korean|hangul=럭키금성 |hanja={{lang|ko|樂喜金星}}}}), is a [[South Korea]]n [[Multinational corporation|multinational]] [[conglomerate (company)|conglomerate]] [[corporation]] founded by [[Koo In-hwoi]] and managed by successive generations of his family. It is the fourth-largest [[chaebol]] in South Korea. Its headquarters are in the LG Twin Towers building in [[Yeouido-dong]], [[Yeongdeungpo District]], [[Seoul]].<ref>"[http://www.lg.com/global/about-lg/corporate-information/at-a-glance/overview.jsp Overview]". LG Corp. Retrieved on 6 January 2010. "Address: LG Twin Towers, 20 Yeouido-dong, Yeongdeungpo-gu, Seoul 150–721, Korea"</ref> LG makes [[electronics]], [[chemical substance|chemicals]], and [[telecommunications]] products and operates subsidiaries such as [[LG Electronics]], [[Zenith Electronics|Zenith]], [[LG Display]], [[LG Uplus]], LG Innotek, [[LG Chem]], and LG Energy Solution in over 80 countries.

== History ==
LG Corporation was established as [[LG Chem|Lak Hui Chemical Industrial Corp.]] in 1947 by [[Koo In-hwoi]].<ref>{{Cite web|url=http://www.lg.net/about/history.dev|archive-url=https://web.archive.org/web/20081119141239/http://www.lg.net/about/history/history01.jsp|url-status=dead|title=HISTORY - The Official Site of LG Group|archive-date=19 November 2008|website=www.lg.net}}</ref> In 1952, Lak Hui (락희) (pronounced "Lucky"; now LG Chem) became the first South Korean company to enter the [[plastics industry]]. As the company expanded its plastics business, it established [[GoldStar]] Co. Ltd. (now LG Electronics Inc.) in 1958. Both companies Lucky and GoldStar merged to form Lucky-Goldstar in 1983.<ref name=tkh>{{cite news|url=http://www.koreaherald.com/view.php?ud=20170212000158|title=LG founder bequeaths principle of harmony, sustainable growth|last=Song|first=Su-hyun|work=[[The Korea Herald]]}}</ref>

GoldStar produced South Korea's first [[Radio receiver|radio]].<ref name=tkh/> 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]]. LG continues to manufacture some of these products for the South Korean market, such as laundry detergent.

Koo In-hwoi led the corporation until his death in 1969, at which time, his son [[Koo Cha-kyung]] took over. He then passed the leadership to his son, [[Koo Bon-moo]], in 1995. Koo Bon-moo renamed the company to LG in 1995.<ref name=tkh/> The company also associates the letters LG with the company's tagline "Life's Good". Since 2009, LG has owned the [[domain name]] LG.com.

Koo Bon-moo died of a [[brain tumor]] on 20 May 2018.<ref>{{cite web|url=http://fortune.com/2018/05/20/koo-bon-moo-lg-dies/|date=20 May 2018|title=LG Chair Koo Bon-moo, Who Ran Company for 23 Years, Dies at 73|work=[[Fortune (magazine)|Fortune]]|access-date=29 April 2019}}</ref> In July 2018, it was announced that Koo Kwang-mo, the nephew and adopted son of Koo Bon-moo, will be the new CEO of LG. Koo Bon-moo adopted his nephew in 2004, after losing his only son in 1994,<ref name="bloomberg">{{cite news|last1=Kim|first1=Hooyeon|last2=Park|first2=Kyunghee|title=LG Chair Koo Bon-Moo Dies, Leaves Company to Adopted Son|url=https://www.bloomberg.com/news/articles/2018-05-20/lg-group-chair-koo-bon-moo-dies-leaves-company-to-adopted-son|access-date=20 May 2018|publisher=Bloomberg|date=20 May 2018}}</ref> citing "a family tradition of male-only succession".<ref>{{cite web|url=http://www.theinvestor.co.kr/view.php?ud=20180710000687|last=Ji-yoon |first=Lee |date=10 July 2018|title=The Investor|access-date=29 April 2019}}</ref>

== Joint ventures ==
LG and [[Hitachi]] created joint ventures named [[Hitachi-LG Data Storage]] in 2000 and LG Hitachi Water Solutions in 2011; among other partnerships it has had, LG has a long relationship with Hitachi dating back to the early years of Goldstar. Since then Hitachi has transferred technologies for LG's products such as radios, wires, TVs, home appliances, semiconductors, etc. The first JV between the two is LG Hitachi, which has been around since 1980s when it was established to import computers to Korea.<ref>{{Cite web|title=연혁 : LG히다찌 주식회사|url=http://www.lghitachi.co.kr/corporate/history/index.jsp|access-date=2020-09-28|website=www.lghitachi.co.kr|language=ko}}</ref>

LG had two joint ventures with [[Royal Philips Electronics]]: [[LG Philips Display]] and [[LG Philips LCD]], but Philips sold off its shares in late 2008.<ref>[https://www.reuters.com/article/hotStocksNews/idUSTRE52B0BN20090312 LG Display shares drop 5.4 percent on Philips stake sale]. Reuters. Retrieved on 11 November 2010.</ref>

In 2005, LG entered into a joint venture with [[Nortel Networks]], creating [[Ericsson-LG|LG-Nortel Co. Ltd.]]

in 2020, LG and Canadian auto supplier [[Magna International]] launched a joint venture known as LG Magna e-Powertrain. The new joint venture will manufacture components used in [[battery-electric vehicle|electric cars]] such as electric motors, inverters and onboard chargers.<ref>{{cite web |title=LG and Magna announce billion dollar joint venture in electric car gear |url=https://www.cnbc.com/2020/12/23/lg-and-magna-announce-billion-dollar-joint-venture-in-electric-car-gear.html |website=www.reuters.com |publisher=Thomson Reuters |access-date=11 April 2021}}</ref>

== International markets ==
On 30 November 2012, [[comScore]] released a report of the October 2012 U.S. Mobile Subscriber Market Share that found LG lost its place as second in the U.S. mobile market share to [[Apple Inc.]]<ref>[http://www.comscore.com/Insights/Press_Releases/2012/11/comScore_Reports_October_2012_U.S._Mobile_Subscriber_Market_Share comScore Reports October 2012 U.S. Mobile Subscriber Market Share – comScore, Inc]. Comscore.com (30 November 2012). Retrieved on 2013-07-12.</ref>

On 20 January 2013, Counterpoint Research announced that LG has overtaken Apple to become second largest in U.S. market share.<ref>{{in lang|ko}} [http://english.yonhapnews.co.kr/techscience/2013/01/20/30/0601000000AEN20130120001000320F.HTML LG Electronics returns to 2nd place in U.S. handset market]. Yonhap News (20 January 2013). Retrieved on 2013-07-12.</ref>

On 7 August 2013, comScore released a report of the June 2013 U.S. Smartphone Subscriber Market Share that found LG fell to fifth place in the U.S mobile market share.<ref>[http://www.comscore.com/Insights/Press_Releases/2013/8/comScore_Reports_June_2013_U.S._Smartphone_Subscriber_Market_Share comScore Reports June 2013 U.S. Smartphone Subscriber Market Share – comScore, Inc]. Comscore.com (7 August 2013). Retrieved on 2013-08-14.</ref>

== Associated companies ==
* [[GS Group]]
* [[LS Group]]
* [[LIG Group]]
* Heesung Group
* [[SPC Group]]

== Structure and financial position ==
LG Corporation is a [[holding company]] that operates worldwide through more than 30 companies in the electronics, chemical, and telecom fields. Its electronics subsidiaries manufacture and sell products ranging from electronic and digital home appliances to televisions and mobile telephones, from [[Thin-film-transistor liquid-crystal display]]s to security devices and [[semiconductor]]s. In the chemical industry, [[subsidiaries]] manufacture and sell products including cosmetics, industrial textiles, rechargeable batteries and toner products, [[polycarbonate]]s, medicines, and surface decorative materials. Its telecom products include long-distance and international phone services, mobile and broadband telecommunications services, as well as consulting and telemarketing services. LG also operates the [[Coca-Cola]] Korea Bottling Company, manages real estate, offers [[management consulting]], and operates professional sports clubs.

{| class="wide"|
|- style="background:#add8e6; text-align:center;"
||''' Fields of activity '''
||'''Companies'''
||'''2013 Division revenue (in billions USD)'''
|- style="background:lavender;"
|Holding company
|[[LG Corp.]]
| style="text-align:center;"|US$8.8 billion<ref>{{cite web|url=http://www.investing.businessweek.wallst.com/research/stocks/financials/financials.asp?ticker=003550:KS&dataset=incomeStatement&period=A&currency=US%20Dollar|title=LG CORP (003550:Korea SE): Financial Statements - Bloomberg |publisher=businessweek.wallst.com|access-date=3 September 2018}}</ref>
|- style="background:lavender;"
|Electronic industry
|[[LG Electronics]] [[LG Display]] [[LG Innotek]]
| style="text-align:center;"|US$55.8 billion<ref>{{cite web|url=http://www.investing.businessweek.wallst.com/research/stocks/financials/financials.asp?ticker=066570:KS&dataset=incomeStatement&period=A&currency=US%20Dollar|title=LG ELECTRONICS INC (066570:Korea SE): Financial Statements - Bloomberg|publisher=businessweek.wallst.com|access-date=6 September 2018}}</ref> US$25.9 billion<ref>{{cite web|url=http://www.investing.businessweek.wallst.com/research/stocks/financials/financials.asp?ticker=034220:KS&dataset=incomeStatement&period=A&currency=US%20Dollar|title=LG DISPLAY CO LTD (034220:Korea SE): Financial Statements - Bloomberg|publisher=businessweek.wallst.com|access-date=21 September 2018}}</ref> US$5.9 billion<ref>{{cite web|url=http://www.investing.businessweek.wallst.com/research/stocks/financials/financials.asp?ticker=011070:KS&dataset=incomeStatement&period=A&currency=US%20Dollar|title=LG INNOTEK CO LTD (011070:Korea SE): Financial Statements - Bloomberg|publisher=businessweek.wallst.com|access-date=2 October 2018}}</ref> N/A N/A
|- style="background:lavender;"
|Chemical industry
|[[LG Chem]] [[LG Household & Health Care]] LG Hausys LG MMA
| style="text-align:center;"|US$22.2 billion<ref>{{cite web|url=http://www.investing.businessweek.wallst.com/research/stocks/financials/financials.asp?ticker=051910:KS&dataset=incomeStatement&period=A&currency=US%20Dollar|title=LG CHEM LTD (051910:Korea SE): Financial Statements - Bloomberg|publisher=businessweek.wallst.com|access-date=22 October 2018}}</ref> US$4.1 billion<ref>{{cite web|url=http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=051900:KS&dataset=incomeStatement&period=A&currency=US%20Dollar|title=Lg Household & Health Care (051900:Korea SE)|publisher=businessweek.com|access-date=24 April 2014}}{{dead link|date=April 2018 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> US$2.6 billion<ref>{{cite web|url=http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=108670:KS&dataset=incomeStatement&period=A&currency=US%20Dollar|title=Lg Hausys Ltd (108670:Korea SE)|publisher=businessweek.com|access-date=24 April 2014}}{{dead link|date=April 2018 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> N/A N/A
|- style="background:lavender;"
|Telecommunication and Services
|[[LG Uplus]] LG International Corp. [[LG CNS]] SERVEONE LG N-Sys
| style="text-align:center;"|US$11 billion<ref name="auto">{{cite web|url=https://www.youtube.com/watch?v=avBmbnYU404|title=Consumer Durable Sector Analysis | Top 8 Consumer Products Companies In India|publisher=investyadnya.in|access-date=20 December 2018}}</ref> US$11.6 billion <ref name="auto"/> N/A N/A N/A
|}

=== Group families<ref>{{cite web|url=http://www.lgcorp.com/about/affiliatesList.dev|title=Our Businesses - The Official Site of LG Group|last=LG.com|website=www.lgcorp.com|access-date=7 April 2017|archive-url=https://web.archive.org/web/20170425225323/http://www.lgcorp.com/about/affiliatesList.dev|archive-date=25 April 2017|url-status=dead}}</ref> ===

==== Electronics industries ====
{{div col|colwidth=30em}}
* [[LG Electronics]]
* LG Appliances
* [[LG Display]]
* LG Innotek
* ZKW Group
{{div col end}}

==== Chemical industries ====
{{div col|colwidth=30em}}
* [[LG Chem]]
* SEETEC
* [[LG Household & Health Care]]
** [[Ĭsa Knox]]
** Haitai HTB
** [[The Face Shop]]
** Beyond
* [[Coca-Cola]] Beverage Company (South Korea)
* LG Lever Korea
{{div col end}}

==== Telecommunications ====
{{div col|colwidth=30em}}
* [[LG U+]]
* CS Leader
* CS ONE Partner
* [[LG CNS]]
* V-ENS
* BIZTECH & EKTIMO
* Ucess Partners
* Monkey House
* Pixdix
* [[G2R]]
* [[HS Ad]]
* [[Twenty Twenty]]
{{div col end}}

== Controversies ==

=== Hardware Unboxed manipulation attempt ===
In June 2021, the YouTube channel Hardware Unboxed published a video alleging an attempt by a representative of LG to manipulate the review of one of LG's gaming monitors.<ref>{{cite web | url=https://www.youtube.com/watch?v=J5DuXeqnA-w | work=Hardware Unboxed | title=Bribes & Manipulation: LG Wants to Control Our Editorial Direction | date=11 June 2021}}</ref> The representative, in an email shown in the video, attempts to influence the editorial outcome of the review by indicating testing methods and aspects of the display to be followed by the channel. This came a few months after [[Nvidia#Hardware_Unboxed_controversy|a similar incident]] between the creators and [[Nvidia]] in which Nvidia warned them that if they continue emphasizing on [[rasterization]] rather than [[ray tracing (graphics)|ray tracing]] in Nvidia's [[graphics cards]], they would no longer receive review samples.

== Sports sponsorship ==
LG owns the [[LG Twins]] and is the main sponsor of [[Changwon LG Sakers]] and a partner of the [[Texas Rangers (baseball)|Texas Rangers]].<ref>{{cite web|url=https://www.mlb.com/press-release/texas-rangers-lg-twins-announce-partnership-agreement-266905596|date=21 February 2018|title=Texas Rangers, LG Twins announce partnership agreement|work=[[Major League Baseball]]|access-date=22 June 2019}}</ref>

== Brand ambassadors ==
* [[David Warner (cricketer)|David Warner]] (2014)

== References ==
{{Reflist|30em}}

{{LG Corporation}}
{{KRX 100 companies}}
{{Chaebol}}
{{authority control}}
{{Commons category|LG Group|LG Group}}

[[Category:LG Corporation| ]]
[[Category:1947 establishments in Korea]]
[[Category:Chaebol]]
[[Category:Companies based in Seoul]]
[[Category:Companies listed on the Korea Exchange]]
[[Category:Conglomerate companies established in 1947]]
[[Category:Conglomerate companies of South Korea]]
[[Category:Electronics companies established in 1947]]
[[Category:Electronics companies of South Korea]]
[[Category:Holding companies established in 1947]]
[[Category:Holding companies of South Korea]]
[[Category:Multinational companies headquartered in South Korea]]
[[Category:Telecommunications companies of South Korea]]
[[Category:Pump manufacturers]]
[[Category:Electric motor manufacturers]]

LG Corp - Revision history

Hoci Mini at 14:34, 25 August 2021