South Korea's LG Group - Statistics & Facts

Life's Good, LG, is primarily known for its electronics and display products worldwide, yet it also boasts a wide range of businesses in seemingly unassociated sectors. LG Corporation's three major segments are electronics (with four subsidiaries), chemicals (nine subsidiaries) and communications/services (nine subsidiaries). Since its initial establishment as a domestic chemical manufacturer in 1947, LG has grown to become a multinational conglomerate. As of 2018, LG is the fourth richest family-run corporate group, "chaebol", in South Korea after Samsung, Hyundai and SK.

LG Group's electronics sector was founded in 1958 and has a big name - LG Electronics. While it was the first radio producer in South Korea, today its representative products are consumer electronics including computers, televisions and smart devices, as well as white goods with a particularly high recognition for their durability in the domestic market. The company has focused on future oriented fields such as vehicle components, home entertainment, home appliances and air conditioning energy solutions, and it has strived to compensate sluggish smartphone sales with considerable profits from the household appliances unit. LG Electronics has managed more than 115 branches and hired over 80 thousand employees globally.

LG Display was launched in 1987 to develop TFT-LCDs. Besides achieving this goal, LG Display has taken over the industry as the leading maker, patent-owner and supplier of large-sized LCD panels, OLEDs and flexible displays. The production and assembly chiefly take place in panel factories in South Korea, mainland China, Vietnam and an LCD module plant in Poland. Along with LG Electronics and LG Chem, the revenue generated by LG Display plays an essential part of the financial status of LG Corporation. At the end of 2017, there were more than 49 thousand employees working for LG Display.

Perhaps unexpectedly, LG Group's chemical segment merchandises household items, personal care products and drinks of its own. LG Household and Healthcare was the first company to release toothpastes and cosmetics to the South Korean public. Based on its history and reputation, it has been dominant in the areas of dental care products, laundry detergents and softeners, albeit its limited influence within the country. In addition, LG Household and Healthcare has chased after Amorepacific Corporation with its premium beauty brands like Whoo and O HUI as well as inexpensive lines including the Face Shop, BEYOND and VDL. In 2007, the company entered the beverage market by acquiring Coca Cola Korea and has constantly increased its share in this market.

LG Corporation merged several fragmented departments related to telecommunications in 2010. The business was then succeeded to LG U+ which is one of the major carrier service providers in South Korea. With regard to 4G mobile internet, LG U+ set a series of records. LG U+ built the world's first nationwide LTE networks in 2012 and 3-band CA commercial networks in 2014. This infrastructure has helped the company gain more customers, however, the industry has been seized by the competitors SK Telecom and KT.

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