is a large South Korean ''
Chaebol '' (conglomerate), which produces
Electronics ,
Mobile Phone s, and
Petrochemical products and operates subsidiaries like
LG Electronics . LG Group sponsors the
LG Cup Go Tournament.
Created in 1947 as "", it assumed the abbreviated name of "LG" in
1995 . LG is also an abbreviation of "Lucky Geumseong" (럭키금성) in
South Korea , which is translated into English as Lucky Venus (Goldstar). Before then, 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 household
Cleaning products and
Laundry Detergent s in South Korea. Before massive industrialization of South Korean society, the name Lucky was synonymous with
Toothpaste .
Since 2001, LG has two joint ventures with and
LG.Philips LCD . LG has made a
Joint Venture with
Nortel Networks and has created
LG-Nortel Co. Ltd.
LG also has a joint venture with
Hitachi which manufactures optical
Data Storage solutions like
DVD-ROM drives,
CD Writer s, etc.
LG has owned the
LG Twins baseball club since
1989 .
LG acquired a majority share of the
American Television manufacturing company
Zenith in 1995.
