What does LG stand for? LG is a well known brand sold all over the world. LG was originally an abbreviation of the word “Goldstar”. Lak Hui founded this company. Lak Hui is pronounced as “Lucky”, so when those words were put together, the name “Lucky Goldstar” was launched.
This lasted for some time, until “Lucky Goldstar” decided to launch a new tagline. So now, LG stands for “Life’s Good”. This Korean corporation is one of the biggest companies in the field of electronics and telecommunications. This enormous system consists of “LG Chem”, “LG Display”, “LG Telecom” and “LG Electronics”. More than eighty countries make the market for LG Corporation.
The founder of LG is Koo In Hwoi who also founded Lak Hui Chemical Industry. It happened in 1947. Just a few years later, this company started doing business with plastic materials. It was the first company in Korea that started this kind of business. The plastic industry was expanding and as a result, Goldstar Company was founded.
The first radio in South Korea was made by Goldstar. Some products were sold as Goldstar brands, while others were advertised and sold as “Lucky” products. The difference was in market limits. The second brand was sold only in South Korea. Lucky was also known for production of soaps, toothpastes and other hygiene and chemical products. During the 1990s, Lucky Goldstar was heading west. In order to make better results in this market, it used the abbreviation LG. Some time later, these two letters were used to resemble the company’s message to buyers: “Life’s Good”. LG.com became the company’s domain name in 2009.
Their website provides plenty of information about the company and products being sold worldwide. You can read the exact figure and see how enormous this corporation really is. LG is also a Formula 1 partner.