LG Life's Good

History

The history of LG Electronics has always been surrounded by the company's desire to create a happier, better life.

LG Electronics was established in 1958 and has since led the way into the advanced digital era thanks to the technological expertise acquired by manufacturing many home appliances such as radios and TVs. LG Electronics has unveiled many new products, applied new technologies in the form of mobile devices and digital TVs in the 21st century and continues to reinforce its status as a global company.

LG Electronics 50-year History

1958 Founded as GoldStar

  1959 Korea first radios

  1998 60-inch Plasma TV

1999 Joint venturewith Philips

  2003 Enters UK GSM handset market

  2005 Develops 3G UMTS DMB handset

  2007 Launches HD disc player and drive

1958

Founded as GoldStar

1960's

Produces Korea's first radios, TVs, refrigerators, washing machines, and air conditioners

1995

Renamed LG Electronics

Acquires US-based Zenith

1997

World's first CDMA digital mobile handsets supplied to Ameritech and GTE in U.S. Achieves UL certification in U.S.

Develops world's first IC set for DTV

1998

Develops world's first 60-inch plasma TV

1999

Establishes LG Philips LCD, a joint venture with Philips

2000

Launches world's first Internet refrigerator

Exports synchronous IMT-2000 to Marconi Wireless of Italy

Significant exports to Verizon Wireless in U.S.

2001

GSM mobile handset Exports to Russia, Italy, and Indonesia

Establishes market leadership in Australian CDMA market

Launches world's first Internet washing machine, air conditioner, and microwave oven

2002

Under LG Holding Company system, separates into LG Electronics and LG Corporation

Full-scale export of GPRS color mobile phones to Europe

Establishes CDMA handset production line and R&D center in China

2003

Enters Northern European and Middle East GSM handset market

Achieves monthly export volume above 2.5 million units (July)

Top global CDMA producer

2004

EVSB, the next-generation DTV transmission technology, chosen to be the U.S./Canada

Industry standard by the US ATSC

Commercializes world's first 55" all-in-one LCD TV

Commercializes world's first 71" plasma TV

Develops world's first Satellite- and Terrestrial-DMB handsets

2005

Becomes fourth-largest supplier of the mobile handsets market worldwide

Develops world's first 3G UMTS DMB handset, 3G-based DVB-Hand Media FLO

DMB Phone with time-shift function and DMB notebook computer

Establishes LG-Nortel, a network solution joint venture with Nortel

2006

LG Chocolate, the first model in LG's Black Label series of premium handsets, sells 7.5 million units worldwide

Develops the first single-scan 60" HD PDP module and 100-inch LCD TV

Establishes strategic partnership with UL

Acquires the world's first IPv6 Gold Ready logo

2007

Launches the industry's first dual-format, high-definition disc player and drive

Launches 120Hz Full HD LCD TV

Demonstrated the world-first MIMO 4G-Enabled technologies with 3G LTE

Won contract for GSMA's 3G campaign

2008

Introduces new global brand identity: "Stylish design and smart technology, in products that fit our consumer's lives."

 

Vision

LG Electronics continues to pursue its 21^st century vision of becoming a worldwide leader in digital—ensuring customer satisfaction through innovative products and superior service while aiming to rank among the world’s top three electronics, information, and telecommunications firms by 2010.

On our way, we hold tight to a philosophy of “Great Company, Great People,” underscoring our belief that only great people can create a great company.

LG strives for greatness in what we’ve identified as our three core capabilities: Product Leadership, Market Leadership, and People Leadership—each strength a key part of realizing our growth strategies for “fast innovation” and “fast growth”.

Core Capabilities

Product leadership refers to the ability to develop creative, top-quality products, using specialized new technologies.

Market leadership refers to the ability to achieve top ranking, worldwide, thanks to a formidable market presence in countries across the globe.

People leadership refers to the market dominance achieved by selecting and nurturing talented team players able to internalize and execute innovation across the board.

Growth Strategies

Fast innovation calls for securing a competitive edge over the competition by setting—and meeting—the highest of goals in all realms of innovation, by at least 30%. This applies to new-product development and unveiling, innovation in design and technology—as well as product sales, market share, and corporate value.

Fast growth is the result of implementing strategies designed to swiftly expand market size and earnings, with and eye toward monetary growth.

Corporate Culture

Though a company can boast stellar management strategies and an outstanding and talented pool of employees, it is still necessary to adopt a corporate culture that can fully unleash the power of these capabilities.

No to “No’”s

At LG, we try to meet every road block with an alternate route—brainstorming and working harder before saying “no.”

‘We’ not ‘I’

LG’s embraces a code of strong teamwork—encouraging pride in achievement as goals are met by many working together as one.

Fun Workplace

LG’s workplace is one where the individual’s creativity and freedom are respected, and work is made fun.