LG Brand: History, Product Types, Reputation, Social Responsibility

LG is one of the appliance brands that has made a name for themselves in the market. If you tell anyone about LG products, they automatically associate them with good quality. LG electronics are one of the most trusted and reliable electronics in the market. It is nearly impossible to miss an LG product in any home. 

The company has been around for quite some time, and it has grown to be a household name. For this reason, we have decided to give you information on the LG brand.

LG is a brand that you can trust. They have been around for years and have become a household name. Their products are reliable and affordable, so you can feel confident in your purchase. Read on to learn more about this company and its products.

A Brief History of LG

LG Electronics is a core company of the South Korean conglomerate LG Group, alongside LG Chem. After the huge success of Lucky Chemicals Co., LTD, established in 1847, the first Korean makeup cream, known as Lucky Cream, chairman In Hwoi Koo named his company lucky, which sounds similar to the word Lak Hui, and has the meaning of giving joy to all.

LG Logo
Image credit: https://logos-world.net/

This Lucky brand became a representative brand of Lak Hui chemical’s products, such as Lucky toothpaste, and became a bridgehead for Lucky chemicals Co. Ltd. to grow into a leading chemical company. In 1974, Lak Hui Chemical changed its name to Lucky Co., Ltd.

Found in 1958, LG Electronics was founded as Goldstar. It was established in the aftermath of the Korean War to provide the rebuilding nation with domestically produced consumer appliances and home appliances. Both companies, Lucky and Goldstar, merged to form Lucky Goldstar in 1993 and later to LG Electronics in 1995.

Its affiliate companies, such as LG Display and LG Innotek, produce liquid crystal panels and electronic parts. Koo Bon Joon, vice chairman of LG Electronics, is the brother of LG Corp., chairman Koo Bon Moo, and the grandson of Kwo In Hoi, who is the company founder. Koo Bon Joon cannot ignore his brother when making important management decisions.

Goldstar produced South Korea’s first radio. Many consumer electronics were sold under the brand name Goldstar while other household products which were not available in South Korea were sold under the brand name Lucky. Koi In Hoi led the corporation until his death in 1969, at which his son, Koo Cha Kyung, took over.

He then passed the leadership to his son Koo Bon Moo in 1995. Koo Bon Moo renamed the company LG that year. The company also associates the letters LG with its tagline Life’s Good. LG has owned the domain name LG.com since 2009.

In 1990, the name Lucky Goldstar was considered too long for overseas consumers. It was also necessary for the company to acquire a strong and vivid brand identity with an integrated corporate image to survive the rapidly changing business world. This establishment led to the establishment of the LG CI.

The birth of the LG CI started with innovative changes in management aimed at actively responding to the changing business environment. The company transformed from Lucky Goldstar to LG Electronics in January 1995. At the same time, the new slogan Life’s Good was created, and the two-letter logo LG was derived from the first letters of the words Lucky and Goldstar.

LG Electronics Inc. engages in the manufacturing of display devices, best kitchen and home appliance brands, multimedia goods, and electronic parts and develops software.

Headquarters Location

The LG company was founded by In Hwoi Koo on October 1, 1958. This multinational electronics is headquartered in the LG Twin Towers building in Yeouido-dong, Yeongdeungpo gu District in Seoul, South Korea. LG makes electronics, chemicals, and telecommunications products and operates subsidiaries such as LG Electronics, Zenith, LG Display, LG Uplus, LG Chem, LG Innotek, and LG Energy Solutions in over 80 countries.

Popular Product Types by LG

LG Electronics’ products operate in the following business areas:

Home Entertainment

Televisions, Projectors, Monitors, Home Theater Systems, Personal computers for IT, Car Infotainment, and produces Chemical and Electronic Materials.

LG Home Entertainment
Image credit: https://www.lg.com

Air Conditioning & Energy Solutions

The Air Conditioning and Energy Solution manufactures products such as residential and system Air Conditioners, Heat Pumps, and Light Emitting Diode lighting.

Mobile Communications

Smartphones, Tablets, and handsets.

Home Appliances

The home appliance business area provides appliances such as Washing Machines, Dryers, Refrigerators, Ovens & Microwaves, Cooking, Cleaning, and health care appliances. In fact. LG makes some of the best LG refrigerators on the market.

LG Home Appliances
Image credit: https://ourfamilylifestyle.com/

Independent Business Area

The Independent Business area provides products such as compressors, storage devices, PC, telematics, and solar cells.

LG Brand Reputation

Headquartered in South Korea and with operations in more than 100 countries, LG Electronics is a truly global company. The company has a strong presence in the U.S with its wide range of products, including smartphones, appliances, TVs, and more.

LG Electronics is known for its innovative technology, stylish designs, and user-friendly features. The company’s products are designed to make life easier and more enjoyable for consumers.

LG’s appliances are also known for their energy efficiency, while its TVs offer a superior viewing experience with excellent picture quality. LG’s smartphones are packed with innovative features and offer a great user experience. If you’re looking for a truly global company, LG is the brand for you.

LG Electronics plays a major role in the global consumer electronics industry; it was the world’s fourth-largest LCD TV manufacturer in 2013, with a market share of about 18%. LG makes and sells a wide range of electronics products, such as mobile phones, tablets, laptops, TVs, home appliances, and air conditioners.

LG Electronics has a global reach and is one of the most recognizable brands in the world. In addition to its electronics business, LG also has a significant presence in other industries such as chemicals, telecommunications, and appliances.

What Brands or Subsidiaries Does LG Own?

LG Electronics owns a number of subsidiaries and brands, including LG Mobile, LG Display, LG Chem, and LG Household & Health Care.

Social Responsibility

Since it was founded in 1958, LG has used slogans that emphasize the company’s dedication to social responsibility. In 2015, LG released a new corporate slogan, “Life's Good,” which is meant to reflect the company's commitment to making life better for its customers.

Other slogans include We Put People First, which was used during the Katrina relief efforts, and Share the Dream, which was used to promote social inclusion. There was also a Better Life with Digital from 2002 to 2004, which aimed to show how digital technology can improve people's lives.

Innovation for a Better Life, which started in 2016 to the present, is the most recent slogan of LG. This slogan reflects the company's focus on innovation and technology and how those can be used to make people's lives better.

In recent years, LG has been focusing on its environmental sustainability efforts. The company has set a goal of becoming carbon-neutral by 2030. To achieve this, LG is working to reduce its greenhouse gas emissions, increase the use of renewable energy, and promote sustainable product design.

Sponsoring Sports

LG has a long history of sponsoring sports activities. Some of the most notable events LG has sponsored include the Korean Baseball Organization LG Twins. The team has since won two Korean series, 1990 and 1994. In August 2013, LG Electronics announced that it would sponsor the German Bundesliga club Bayern 04 Leverkusen for the next three years with an option to extend for one more year.

LG sponsors the International Cricket Council, the world governing body for cricket, and also sponsors the ICC Awards. From 2009 to 2013, LG eLectronics sponsored Formula One as a Global Partner and Technology Partner. LG was an official supplier to Virgin Racing and Lotus Racing team, plus engine manufacturer Cosworth from 2010 to 2012.

LG also sponsors London Fashion Week and the LG Arena in Birmingham. LG sponsored the snooker Grand Prix from 2001 to 2003. During these years, the tournament was known as the LG cup. In 2008, LG became sponsors of the Extreme Sport FS04 Freeze festival.

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