LG Corp. is the second-largest South Korean chaebol following Samsung, and it is headquartered in the LG Twin Towers in Yeouido-dong, Yeongdeungpo-gu, Seoul. LG produces electronics, chemicals, and telecommunications products and operates subsidiaries like LG Electronics, LG Display, LG Telecom and LG Chem in over 80 countries. LG Corp. founder Koo In-Hwoi established Lak-Hui Chemical Industrial Corp. in 1947. In 1952, Lak-Hui (pronounced "Lucky", currently LG Chem) became the first Korean company to enter the plastics industry. As the company expanded its plastics business, it established Goldstar Co., Ltd., (currently LG Electronics Inc.) in 1958. Both companies Lucky and Goldstar merged and formed Lucky-Goldstar. Goldstar produced South Korea's first radio. 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.
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