Company:LG Corporation

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Short description: South Korean multinational conglomerate corporation
LG Corporation
Native name
주식회사 엘지
FormerlyLucky-Goldstar
(1983–1995)
TypePublic
Short description: Securities exchange operator in South Korea
Korea Exchange
한국거래소
TypeStock exchange
LocationBusan & Seoul, South Korea
Coordinates [ ⚑ ] 35°08′12″N 129°03′53″E / 35.136721°N 129.064746°E / 35.136721; 129.064746 (Busan)
Founded1956; 69 years ago (1956)
Key peopleSohn Byung-doo
(Chairman & CEO)
CurrencySouth Korean won
No. of listings2,445 (as of May 2021)[1]
Market cap₩2,604 trillion KRW ($2.3 trillion USD)[2]
IndicesKOSPI
KOSDAQ
KRX 100
Websitewww.krx.co.kr
eng.krx.co.kr
LG Corporation
Hangul
한국거래소
Hanja
韓國去來所
Revised RomanizationHanguk Georaeso
McCune–ReischauerHanguk Kŏraeso

Korea Exchange (KRX, 한국거래소) is the sole securities exchange operator in South Korea . It is headquartered in Busan, and has an office for cash markets and market oversight in Seoul.

History

The Korea Exchange was created through the integration of Korea Stock Exchange (KSE), Korea Futures Exchange and KOSDAQ Stock Market under the Korea Stock & Futures Exchange Act. The securities and derivatives markets of former exchanges are now business divisions of Korea Exchange: the Stock Market Division, KOSDAQ Market Division and Derivatives Market Division. As of Dec 2020, Korea Exchange had 2,409 listed companies with a combined market capitalization of ₩2.3 quadrillion KRW (US$2.1 trillion). The exchange has normal trading sessions from 09:00 am to 03:30 pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.[3]

On 22 May 2015, the Korea Exchange joined the United Nations Sustainable Stock Exchanges initiative in an event with the UN-SG Ban Ki-moon in attendance, as well as senior officials from UN Global Compact and UNCTAD.[4]

Traded Instruments

KOSPI Market Division
  • Stocks
  • Bonds
  • Exchange Traded Funds (ETFs)
  • Exchange-Linked Warrants (ELWs)
  • Real Estate Investment Trusts (REITs)
KOSDAQ Market Division
  • Stocks
Derivatives Market Division
  • Index Instruments: KOSPI 200 Index Futures, KOSTAR Futures, KOSPI 200 Index Options
  • Single Stock Futures
  • Equity Options
  • Interest Rate Instruments: 3-Year KTB (Korea Treasury Bond) Futures, 5-Year KTB Futures, 10-Year KTB Futures
  • Foreign Exchange Instruments: USD Futures, JPY Futures, EUR Futures, USD Options
  • Commodity Instruments: Gold Futures, Mini-gold Futures, Lean Hog Futures

See also

References

  1. ↑ ""Global KRX About KRX KRX Overview History"". http://global.krx.co.kr/main/main.jsp. 
  2. ↑ ""시가총액"". http://www.krx.co.kr/main/main.jsp. 
  3. ↑ Market Hours, Korea Exchange via Wikinvest
  4. ↑ "UN Secretary-General Joins Business Leaders in Seoul, Calls for Urgent Action on Poverty, Climate Change and Conflict". UN Global Compact. https://www.unglobalcompact.org/news/1881-05-19-2015. 



IndustryConglomerate
Founded5 January 1947; 78 years ago (1947-01-05)
FounderKoo In-hwoi
Headquarters
Seoul
,
South Korea
Area served
Worldwide
Key people
Koo Kwang-mo
(Chairman and CEO)
Kwon Young-soo
(Vice Chairman)
Products
RevenueKRW 156 trillion (2018)
Owners
  • Koo family (45.9%)[1]
  • NPS (8.03%)[1]
  • Mirae Asset (5.5%)[1]
Number of employees
222,000 (2012)[2]
Subsidiaries
Websitewww.lgcorp.com

LG Corporation (or LG Group) (Korean: 주식회사 엘지), known as LG and formerly Lucky-Goldstar from 1983 to 1995 (Korean: Leokki Geumseong; Korean: 럭키금성; Hanja: 樂喜金星), is a South Korean multinational conglomerate founded by Koo In-hwoi and managed by successive generations of his family. It is the fourth-largest chaebol in South Korea. Its headquarters are in the LG Twin Towers building in Yeouido-dong, Yeongdeungpo District, Seoul.[3] LG makes electronics, chemicals, and telecommunications products and operates subsidiaries such as LG Electronics, Zenith, LG Display, LG Uplus, LG Innotek, LG Chem, and LG Energy Solution in over 80 countries.

History

LG Corporation was established as Lak Hui Chemical Industrial Corp. in 1947 by Koo In-hwoi.[4] In 1952, Lak Hui (락희) (pronounced "Lucky"; now 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. (now LG Electronics Inc.) in 1958. Both companies Lucky and GoldStar merged to form Lucky-Goldstar in 1983.[5]

GoldStar produced South Korea's first radio.[5] 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. LG continues to manufacture some of these products for the South Korean market, such as laundry detergent.

Koo In-hwoi led the corporation until his death in 1969, at which time, 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 to LG in that year.[5] The company also associates the letters LG with the company's tagline "Life's Good". Since 2009, LG has owned the domain name LG.com.

Koo Bon-moo died of a brain tumor on 20 May 2018.[6] In July 2018, it was announced that Koo Kwang-mo, the nephew and adopted son of Koo Bon-moo, will be the new CEO of LG. Koo Bon-moo adopted his nephew in 2004, after losing his only son in 1994,[7] citing "a family tradition of male-only succession".[8]

Businesses

LG Corporation is a holding company that operates worldwide through more than 30 companies in the electronics, chemical, and telecom fields. Its electronics subsidiaries manufacture and sell products ranging from electronic and digital home appliances to televisions and mobile telephones, from Thin-film-transistor liquid-crystal displays to security devices and semiconductors. In the chemical industry, subsidiaries manufacture and sell products including cosmetics, industrial textiles, rechargeable batteries and toner products, polycarbonates, medicines, and surface decorative materials. Its telecom products include long-distance and international phone services, mobile and broadband telecommunications services, as well as consulting and telemarketing services. LG also operates the Coca-Cola Korea Bottling Company, manages real estate, offers management consulting, and operates professional sports clubs.[9]

Subsidiaries

Joint ventures

LG and Hitachi created joint ventures named Hitachi-LG Data Storage in 2000 and LG Hitachi Water Solutions in 2011; among other partnerships it has had, LG has a long relationship with Hitachi dating back to the early years of Goldstar. Since then Hitachi has transferred technologies for LG's products such as radios, wires, TVs, home appliances, semiconductors, etc. The first JV between the two is LG Hitachi, which has been around since 1980s when it was established to import computers to Korea.[10]

LG had two joint ventures with Royal Philips Electronics: LG Philips Display and LG Philips LCD, but Philips sold off its shares in late 2008.[11]

In 2005, LG entered into a joint venture with Nortel Networks, creating LG-Nortel Co. Ltd.

In 2020, LG and Canadian auto supplier Magna International launched a joint venture known as LG Magna e-Powertrain. The new joint venture will manufacture components used in electric cars such as electric motors, inverters and onboard chargers.[12]

Associated companies

  • GS Group
  • LS Group
  • LIG Group
  • LX Group

Sports sponsorship

LG owns the South Korean professional baseball team LG Twins, and is the main sponsor of basketball team Changwon LG Sakers. LG is also a partner of the American professional baseball team Texas Rangers.[13]

LG also sponsored football clubs Leicester City F.C. from 2001 to 2003, Olympique Lyonnais from 2004 to 2006, Fulham F.C. from 2007 to 2010 and Bayer 04 Leverkusen from 2013 to 2016.

References

  1. ↑ 1.0 1.1 1.2 "에프앤가이드 상장기업분석". https://comp.wisereport.co.kr/company/c1070001.aspx?cn=&cmp_cd=003550. 
  2. ↑ "LG overview". LG corp. http://www.lgcorp.com/about/overview.dev. 
  3. ↑ "Overview". LG Corp. Retrieved on 6 January 2010. "Address: LG Twin Towers, 20 Yeouido-dong, Yeongdeungpo-gu, Seoul 150–721, Korea"
  4. ↑ "HISTORY — The Official Site of LG Group". http://www.lg.net/about/history.dev. 
  5. ↑ 5.0 5.1 5.2 Song, Su-hyun. "LG founder bequeaths principle of harmony, sustainable growth". The Korea Herald. http://www.koreaherald.com/view.php?ud=20170212000158. 
  6. ↑ "LG Chair Koo Bon-moo, Who Ran Company for 23 Years, Dies at 73". Fortune. 20 May 2018. http://fortune.com/2018/05/20/koo-bon-moo-lg-dies/. 
  7. ↑ Kim, Hooyeon; Park, Kyunghee (20 May 2018). "LG Chair Koo Bon-Moo Dies, Leaves Company to Adopted Son". Bloomberg. https://www.bloomberg.com/news/articles/2018-05-20/lg-group-chair-koo-bon-moo-dies-leaves-company-to-adopted-son. 
  8. ↑ Ji-yoon, Lee (10 July 2018). "The Investor". http://www.theinvestor.co.kr/view.php?ud=20180710000687. 
  9. ↑ LG.com. "Our Businesses - The Official Site of LG Group". http://www.lgcorp.com/about/affiliatesList.dev. 
  10. ↑ "연혁 : LG히다찌 주식회사" (in ko). http://www.lghitachi.co.kr/corporate/history/index.jsp. 
  11. ↑ LG Display shares drop 5.4 percent on Philips stake sale. Reuters. Retrieved on 11 November 2010.
  12. ↑ "LG and Magna announce billion dollar joint venture in electric car gear". Thomson Reuters. 23 December 2020. https://www.cnbc.com/2020/12/23/lg-and-magna-announce-billion-dollar-joint-venture-in-electric-car-gear.html. 
  13. ↑ "Texas Rangers, LG Twins announce partnership agreement". Major League Baseball. 21 February 2018. https://www.mlb.com/press-release/texas-rangers-lg-twins-announce-partnership-agreement-266905596. 




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