Jang Seob Yoon
Research expert covering South Korea
South Korea's LG Group - statistics & facts
LG Group, one of the four most successful family-run conglomerates in South Korea alongside Samsung, Hyundai, and SK, is primarily known for its electronics and display products worldwide. In its current holding structure, LG Corporation has organized its subsidiaries into three divisions: Electronics, Chemical, and Telecom & Services. The main source of LG Group's income is derived from LG Electronics, while the company's chemical sector, represented by LG Chem, also continues to perform admirably. Nevertheless, the company continues look forward as it invests significantly in research and development (R&D) for fields such as artificial intelligence (AI), batteries, and biotechnology.
What products are manufactured by LG Electronics?
LG Group's electronics sector was found in 1958 and is headed by LG Electronics. The revenue of LG Electronics highlights its prominence in the various markets it operates in. The company's major products are consumer electronics including televisions, smart devices, and home appliances, also known as white goods, such as refrigerators, washing machines, and air conditioners. The company continues to develop future-oriented technology in different business areas, including a focus on vehicle components. Its revenue from vehicle component solutions has increased dramatically and records new highs with every passing year.How does LG Chem prepare for the future?
LG Chem is South Korea’s largest chemical company and one of the leading chemical companies in the world, with sales spreading across different sectors of the industry. LG Chem relies heavily on its petrochemical business, but it also has diverse operations, notably in the battery sector. The battery sector has been the subject of widespread interest as its role as an integral part of products for the present and the future becomes more and more evident. Batteries produced by LG Chem are used in smartphones and laptops, with larger automobile batteries being supplied to major automakers and energy storage systems (ESS).How well is LG Display performing?
During the last two decades, LG Display has risen as a leading manufacturer in the display industry. The company is a multi-trillion South Korean won business and its main products are display panels for televisions and mobile devices. Recently, LG Display has shifted its focus towards producing OLED panels for the automotive and aircraft industry. Along with LG Electronics and LG Chem, the revenue generated by LG Display is an essential part of LG Corporation's financial backbone.How has LG consolidated its telecommunications business?
In 2010, LG decided to merge several fragmented departments related to telecommunications into one company. This eventually led to the establishment of LG U+, which is one of the major carrier service providers in South Korea. LG U+ built the world's first nationwide LTE network in 2012 and 3-band CA commercial networks in 2014. Now, as one of the 5G operators in South Korea, LG U+ has secured a steady share of domestic 5G subscriptions and focuses on developing various business opportunities based on 5G technology.
