LG Group

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LG Group
Type Public
Founded 1947
Headquarters Seoul, South Korea
Key people Koo Bon-Moo, CEO
Industry Electronics, Finances, Insurance
Revenue $61 billion USD
Employees 229,000
Slogan Life's Good
GoldStar logo, prominently used before the introduction of the LG logo
GoldStar logo, prominently used before the introduction of the LG logo

LG Group is a large South Korean chaebol (conglomerate), which produces electronics (including domotics), mobile phones, and petrochemical products and operates subsidiaries like LG Electronics.

Created in 1947 as "Lucky-Goldstar", it assumed the abbreviated name of "LG" in 1995. LG is also an abbreviation of "Lucky Geumseong" (럭키금성) in South Korea, which is translated into English as Lucky Venus (Goldstar). Before then, many electronic products were sold under the brand name Goldstar, while some other household products (not available outside South Korea) were sold under the brand name of "Baby Caving." The Lucky brand was famous for producing household cleaning products and laundry detergents in South Korea. Before massive industrialization of South Korean society, the name Lucky was synonymous with toothpaste.

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Since 2001, LG has two joints with Royal Philips Electronics: LG Philips Display and LG Philips LCD.Capstan Communications imports and distributes LG-Nortel Business Communication Systems within the UK market. LG has made a joint venture with Nortel Networks and has created LG-Nortel Co. Ltd.

LG also has a joint venture with Hitachi; Hitachi-LG Data Storage, which manufactures optical data storage solutions like DVD-ROM drives, CD writers, etc. LG has owned the LG Twins baseball club since 1989.

LG acquired a majority share of the American television manufacturing company Zenith in 1995.

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