LG Electronics Incorporated is a South Korean multinational electronics corporation based in

and headquartered in the capital of South Korea, Seoul. LG Electronics is a subsidiary of LG

Corporation, one of South Korea’s largest family-owned business conglomerates. It was founded
in 1958 and has since led the way into the advanced digital era by manufacturing a variety of
household electronic products such as radios and televisions. LG Electronics is an electronics
manufactures engaging in the manufacturing of home appliances, multimedia goods, electronic
parts, software, display devices, mobile phones and much more. LG Electronics has stated its
philosophy consistently, they want to understand its customers and offer endless optimal
solutions and new experiences through never-ending innovation. Their main goal is to help their
customers lead better lives.

LG stands for Lucky Goldstar however, they are better known for their slogan ‘’Life’s Good’’.
They want to make their customers achieve a better life, experience more, grow with technology
and keep up to day with the modern era. LG Electronics has been consistently evolving to suit
the needs of the era, while always believing in its fundamental philosophies.

In their logo, LG Electronics states that the “L” and “G” in the logo stand for and symbolize the
world, future, youth, technology and most importantly humanity. It also represents LG’s constant
efforts to keep tight and loyal relationships with its customers. LG also mentions that the red in
their logo represents their friendliness and a strong impression of their desire and commitment to
always deliver the best they can.

To further understand LG Electronics, it is important to understand its history:

● In October 1958, LG Electronics was founded by Koo In-Hwoi, under the name Goldstar.
● In 1959, they created South Korea’s first-ever radio.
● In 1966, they developed South Korea’s first-ever TV.
● In 1978, LG Electronics achieved $100 million in exports.
● In 1982, LG Electronics established its first overseas production base in the United States
of America.
● In 1995, Goldstar merged with Lucky Chemical and LS Cable, and then changed their
corporate name to Lucky-Goldstar, and then finally LG Electronics.
 ● In 1998, LG Electronics started to explore untapped rural markets, where they paid great
importance to affordability. They created their product LG Sampoorna TV and it was a
huge success, with over 100,000 sales in its first year. This was also the beginning of
their journey to develop LCD panels.
● In 2005, they led the US Market with their drum-washing products.
● In 2008, they developed the world’s first LTE mobile modem chip.
● In 2009, LG Electronics established itself as the world’s second-largest LCD TV brand.

Ever since LG has been constantly innovating whether it be the first to introduce an 84-inch
ULTRA HD TV to the market or to introduce the world’s first 4K OLED TV. LG Electronics'
biggest change came with their innovative products, where they became a company that started
to offer luxury appliances while also catering to the factor of affordability. LG has constantly
focused on innovating its mainstream products and marketing them more attractively and they
have been reaping the benefits. They are now recognized as a brand that offers you very high-
quality products and constant innovation. In 2019, LG Electronics was ranked first in regard to
highest customer satisfaction, which was their 3rd year in a row to hold this position, by the J.D
Power Report and additionally has consistently been named the best in terms of product and
service quality by the American Customer Satisfaction Index. With its determined approach to
doing business globally, LG Electronics participates actively in worldwide markets. Due to this,
LG Electronics is in control of more than 142 local subsidiaries throughout the world that
employs about 74,000 executives and workers.

LG Electronics boasts its style of management and operations through its transparent and honest
manners, they also hold very high ethical standards. And their board of directors and personnel
that assume key managerial positions deserve huge praise.

William Cho is the current CEO of LG Electronics,

he is also an executive director, a crucial piece in
the management committee, and very importantly a
part of the ESG Committee. The ESG Committee
stands for the Environmental Social and
Governance committee. The mission of the ESG
Committee is to assist companies in maintaining
their commitment to environmental stewardship,
health and safety, corporate social responsibility,
corporate governance, and sustainability as they
pertain to the Company.