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LGLG 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" 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 Lucky. 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.
LG Electronics (KSE: 066570, LSE: LGLD) is one of the world's leading electronics companies. It is part of the Korean LG Group, operating in approximately 80 countries. The previous company name was Lucky-Goldstar, from which the abbreviation of LG was derived. Their slogan encourages the public to assume that LG stands for "Life's Good", but this is a backronym.
LG Electronics is viewed by many Koreans as a symbol of national pride and 'can do' spirit along with its Korean rival, Samsung Electronics.
Since the start of the 21st century, LG Electronics saw a tremendous rate of growth, especially from 2006, where the company's mobile phone division, LG Mobile, started to properly 'take off' with the hugely popular LG Chocolate phone, changing the company's image of the maker of 'fat' 3G phones. This major movement was very successful and the company continues this trend and having one of the largest design teams in Korea, it now focuses on design, brand and creating stylish phones such as the LG Shine and PRADA Phone. As a result, the company was picked as 'The Design Team of the Year' by the Red Dot Design Award in 2006~2007 and is often called the "New Apple' or "New Sony' in the industry and online communities.
LG's efforts to become one of the world's top three electronics company by 2010 is annually reflected by its high revenue growth and increased brand value - by 2005, LG was in the league of the Top 100 global brands and just a year later, LG recorded an impressive brand growth of 14%. Already the world's largest plasma panel manufacturer, its joint venture, LG.Philips LCD, is the world's top maker of liquid-crystal displays for TVs.
LG Electronics is a pioneering developer that facilitated commercializing iris recognition technology in 1999. It is now the world leader in deployed iris recognition systems for security, convenience, privacy enhancement, productivity, and other identity-dependent uses.
Mission
Providing our customers with utmost satisfaction through our leadership in the compressor industry
Our fundamental policy of development is to secure product leadership that our customers may have the utmost satisfaction.
To realize this policy, we are focusing on six development areas. We also have many kinds of R&D programs in joint cooperation with different universities and institutes. All studied technologies from each laboratory are realized in the plant engineering design department.
LG compressors are the edge in air conditioning compressors. LG also teams up with customers to develop and improve air conditioning systems that are more energy-efficient, quiet, and environment friendly.
1958 GoldStar (today's LG Electronics) established
1959 Korea's first radio produced
1962 Radio exported to the US and Hong Kong as Korea's first
1965 Korea's first refrigerator produced
1966 Korea's first black & white TV produced
1968 Korea's first air conditioner produced
1969 Korea's first washing machine produced
1974 GoldStar Communications went public
1977 Color TV produced
1978 Exports surpassed US$100 million as Korea's first in the electronics industry
1980 First EU sales subsidiary in Germany (LGEWG) established
1982 Color TV plant in Huntsville in the US established
1984 Sales surpassed one trillion won
1986 European-standard VCR plant in Germany established
1989 Sales subsidiary and a joint production subsidiary in Thailand established
1990 Ireland-based design technology center established
1993 With the establishment of Huizhou subsidiary in China(LGEHZ), marketing in China took full swing
1995 Company name changed to LG Electronics and the US-based Zenith acquired
1997 40-inch PDP TV and the world's first IC set for DTVs developed; India production subsidiary (LGEIL) established
1998 World's first 60-inch PDP TV developed
1999 LG.Philips LCD, a joint venture with Philips, established
2000 LG Information & Communications merged
The world's first Internet-enabled refrigerator launched
Global sales of refrigerators reached the number one position
2001 Asynchronous IMT-2000 equipment commercialized; the world's first Internet- enabled washing machine, air conditioner, and microwave oven launched; LG.Philips Displays, a joint venture with Philips established
2002 Under the LG Holding Company system, the Company spun off to LG Electronics (LGE) and LG Electronics Investment (LGEI); the first home network system commercialized in the global market
2003 World's first synchronous-asynchronous IMT-2000 mobile phone developed; the world's first 76-inch PDP TV developed; CDMA mobile handsets took the largest share in the US & world CDMA market
2004 EVSB, the next-generation DTV transmission technology chosen to be the US/Canada DTV transmission standard by the US ATSC All-in-one LG 55" LCD TV, the world’s first and largest among LCD TVs, commercialized The world’s largest and first LG 71" plasma TV commercialized
The world’s first terrestrial DMB phone developed
[2002] Increased global production capacity to 10 million
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