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LG Group is a large South Korean conglomerate (chaebol), that produces electronics, mobile phones, and petrochemical products and operates subsidiaries like LG Electronics, LG Telecom, Zenith Electronics and LG Chem in over 80 countries. LG Group sponsors the LG Cup Go Tournament.
Created as an appliance company in 1947 named GoldStar (금성, 金星), it later merged with the chemical company Lucky. 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 its hygiene products line such as soaps and Hi-Ti laundry detergents, but most associated with its Lucky and Perioe toothpaste.
In 1995, it was renamed "LG", the abbreviation of "Lucky GoldStar". More recently, the company associates its tagline "Life's Good", with the letters LG.
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GoldStar logo, prominently used before the introduction of the LG logo.
Since 2001, LG has two joint ventures with Royal Philips Electronics: LG Philips Display and LG.Philips LCD. LG has entered into 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 products like DVD-ROM drives, CD writers, etc. LG has owned the LG Twins baseball club since 1989. LG also developed the Chocolate series of mobile phones. LG acquired American television manufacturing company Zenith in 1999.
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[edit] Flawed products
In 2003 LG released a CD-Rom unit that violated the ATAPI specification in that the FLUSH_CACHE command was reused for a WRITE_FIRMWARE command which rewrites the firmware in an uncontrolled manner instead of properly returning an error or ignoring the command. Only CD-RW or DVD-RW units are supposed implement this command. The aftermath included bricked products. [4] [5] [6] [7]
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Seoul, South Korea
