LG Electronics Inc., comprising a part of the LG Group conglomerate, is one of the leading manufacturers of consumer electronics and household appliances in the world. LG Electronics Inc. is one of the South Korean most developed companies which promoted to putting South Korea in a number of the four Asian Tigers together with Hong Kong, Singapore and Taiwan, notable for achieving extremely high growth rates and rapid industrialization of their countries between 1960s and 1990s. LG Electronics is headquartered in Seoul, the Republic of Korea, and has got 120 representations in 95 countries.

LG multi-faceted business may be divided into four major segments, with each being involved both in the development, production and sale of specific products. They are:

LG Home Entertainment, which is a priority for LG Electronics as its volume of sales surpasses all other business segments. Its specialization is LCD and plasma televisions, video and audio, monitors and notebooks;

LG Home Appliances engaged in the production of washing machines, refrigerators, vacuum cleaners, dishwashers, microwaves, breadmakers, domestic air purifiers and water filters;

LG Mobile Communications dealing with the production of mobile phones, smartphones, tablet computers;

LG Air Conditioning and Energy Solutions which is responsible for the production of air cleaning and air conditioning equipment for both industrial and private usage, as well as lighting systems, solar panels, heating control devices.

The history of a globally known brand LG started in 1947 when Koo In-Hwoi, a department store owner, founded a company with the name Lak Hui (Lucky) Chemical Industrial Corp. The company's first products were toothpaste and face cream called Lucky. Step by step the company has acquired quite an extensive network of branches throughout South Korea. Koo In-Hwoi was investing his profits in new lines of business, for example, in research of new chemical materials. And in 1953 the company became the first mass manufacturer of plastic products in South Korea. Plastic packaging for cosmetics instead of glass and porcelain ones reduced the cost of goods and made them more accessible for ordinary people.

By the end of 1950s advanced branches of industry have been actively cheered by the government of South Korea. The idea of Lak Chemical Industrial to establish a new venture for manufacturing consumer electronics was supported by Park Chung Hee, South Korean President. Thus GoldStar Co. Ltd. (nowadays LG Electronics Inc.) appeared in the South Korean market in 1958. In 1959 the company launched its first product - a transistor radio.

A list of the first South Korean products manufactured by the company, in addition to a transistor radio, includes such novelties of home appliances as the first Korean electric fan (1960), the first Korean telephone (1961), the first Korean refrigerator (1965), the first Korean black and white television (1966), the first Korean washing machine (1969), the first Korean cassette player recorder (1973), the first Korean color TV (1977), the first VCR developed in cooperation with Hitachi (1981), the first Korean microwave (1984), the first world's chip for the production of digital TV (1997), the first world's 60-inch plasma panel, LCD TV with a 20.1 inches’ diagonal (2001), the first Korean hybrid household solar-powered air conditioning, as well as the world's first single-lens 3D-projector (2010).

In 1995 all subsidiaries of Lucky Group Corporation merged under a single name LG (Lucky Goldstar), which resulted in LG Electronics.

The founder of the corporation Koo In-Hwoi died in 1969 and his son Koo Cha-Kyung headed the business up to 1995 when he retired. His successor became the grandson of the founder Koo Bon-Moo. In 2010 Koo Bon-Joon, a younger brother of Koo Bon-Moo was appointed as Vice-Chairman and CEO of the corporation.