LG Corp. is a multinational conglomerate founded in 1947 and headquartered in Seoul, Republic of Korea. It is best known by consumers for its electronics division, which began as Goldstar, a Korean company that produced the first radios made with locally produced parts in 1958. Its divisions produce commercial heating and cooling products, health care technology, chemicals and business and personal communications.
Goldstar became LG in 1995 when it acquired Zenith, an American television maker, and has also partnered with Phillips electronics to expand its range of products. Consumers in Asia, Europe, the Middle East, Russia, China and North America own kitchen and laundry appliances, televisions and mobile phones made by the company. Consumers also own LG “smart” refrigerators and air conditioners that can be managed over the Internet and smart phones. Worldwide, consumers buy their LG products online, in “big box” stores and in chain and locally owned appliance, department and specialty stores.
LG Electronics is publicly traded on the Korean and London stock exchanges. In 2013, 31 percent of its stock was held by the corporation. Domestic Korean investors held approximately 55 percent and 15 percent was held by investors from other countries, including the United States. Approximately 90 percent of the company's stock is common stock and 10 percent is preferred. As of the date of publication, of the total 180,833,806 shares of stock issued 163,647,814 were in common stock and 17,185,992 were in preferred stock.