LG Corporation, formerly Lucky-GoldStar, is a South Korean multinational conglomerate corporation. It is the fourth-largest chaebol in South Korea. It is headquartered in the LG Twin Towers building in Yeouido-dong, Yeongdeungpo District, Seoul. LG makes electronics, chemicals, and telecom products and operates subsidiaries such as LG Electronics, Zenith, LG Display, LG Uplus , LG Innotek and LG Chem in over 80 countries.
LG Corp. established as Rak-Hui Chemical Industrial Corp. in 1947. In 1952, Rak-Hui (pronounced "Lucky", currently LG Chem) became the first South Korean company to enter the plastics industry. As the company expanded its plastics business, it established GoldStar Co. Ltd. (currently LG Electronics Inc.) In 1958, both companies Lucky and GoldStar merged and formed Lucky-GoldStar.
GoldStar produced South Korea's first radio. 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 hygiene products such as soaps and HiTi laundry detergents, but the brand was mostly associated with its Lucky and Perioe toothpaste. Even today, LG continues to manufacture some of these products for the South Korean market, such as laundry detergent.
In 1995, to compete better in the Western market, the Lucky-GoldStar Corporation was renamed "LG". The company also associates the letters LG with the company's tagline "Life's Good".