The LG Group is one of South Korea's largest conglomerates that produces electronics, chemicals and telecommunications products and operates subsidiaries like LG Electronics, LG Telecom and LG Chem in over 80 countries.
Founded in 1947, the Lak Hui Chemical Industrial Corp. emphasised the principle of creating harmony among people. The employees believed that mutual trust and responsibility were crucial to accomplishing business objectives. In 1952, Lak Hui (currently LG Chem) became the first Korean company to enter the plastics industry.
As the company expanded its plastics business, it established Goldstar Co., Ltd., (currently LG Electronics Inc.) and soon afterwards produced Korea's first radio, opening a new era for the nation's electronics industry and thereby leading the development of Korea's industries.
On March 1, 2003, LG launched its comprehensive holding company, LG Corp. LG became the first major Korean corporation to introduce a holding company structure with advanced corporate governance.
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LG Chem in Everyday Life
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