History
LG was founded in 1947. Starting as a small company at the southern tip of the Korean peninsula, LG has grown to become a global corporation. The period from 1947 through the 1950s laid the groundwork for LG’s two major business areas, electronics and chemicals. The 1960s was an era which established the foundation of LG's key industries. Growth and expansion took place on a large scale in the 1970s, and the 1980s saw LG following a route of globalization. Great innovations marked the 1990s. Today, in the 2000s, LG has taken a giant leap towards the future.Mission
The mission of LG is:- To create value for customers
- To respect human dignity
- To become the best in its class by winning customers' acclaim as a true leader in the global market
Scope of Operation
- Electronics
- Chemicals
- Telecommunications and Services
Key Statistics
- Assets of $49.81 billion
- Profits of $0.58 billion in 2006
- Operations around the world in South Korea, France, United States, England, Peru, India, Vietnam, Russia, China, Spain, Indonesia and United Arab Emirates
- 143,000 employees
Organization
LG Corp. is the holding group has controlling stakes in the various business fields, i.e., the companies and subsidiaries. LG Corp. is a pure holding company and it focuses primarily on portfolio management of its investment assets. The organization functions are managed by:- Chairman
- CEO
- Management
- Board of Directors
- Executive Officers
International Ranking
- 314th in the world according to Forbes Magazine
- 72nd in Fortune Global 500 list
Subsidiaries
LG comprises 31 companies in total. The group has around 130 overseas subsidiaries. The subsidiaries are functional in various fields of operation.Recent Mergers and Acquisitions
The recent mergers and acquisitions of LG are:- 2006 - LG Chem acquired and merged with LG Daesan Petrochemical.
- 2002 - Merger of LG Mart, LG Supercenter, and LG Department Store into LGMart Co. Ltd.
- 2000- LG-Caltex Oil Corp. merged with Hoyu Shipping
- Also in 2002 there was a merger of LG Electronics Inc. and LG Information & Communications, Ltd.
Headquarter Address
20 Yoido-dong, Youngdungpo-guSeoul 150-721
South Korea
Phone: 82-2-3777-1114
Website URL: www.lg.co.kr
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