LG Corp. is the second largest Korean multi-industry company that produces electronics, chemicals, and telecommunications products and operates subsidiaries like LG Electronics, LG Display, LG Telecom, LG Boring, and LG Chem in over 80 countries. LG Corp. established as Lak-Hui Chemical Industrial Corp. in 1947. In 1952, Lak-Hui became the first Korean company to enter the plastics industry.
While the company expanded its plastic business, it established GoldStar Co. Ltd. (currently LG Electronics Inc.) in 1958. Both companies Lucky and GoldStar merged and formed Lucky Goldstar. 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".