Technology History | LG Electronics — GoldStar in Yeonji-dong, Busan
· 1958-10
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Technology History | LG Electronics — GoldStar in Yeonji-dong, Busan
kevin
People treat LG Electronics as the Twin Towers on Yeouido and a Life's Good badge that arrived already global.
The first factory sat here, in Yeonji-dong, Busanjin-gu, Busan, when Koo In-hwoi opened GoldStar Co., Ltd. in October 1958.
Lucky Chemical, the plastics house he had built in 1947, already ran a plant in the same district. GoldStar was the electronics turn: Korea's first dedicated consumer-electronics firm.
The first product was the A-501 vacuum-tube radio, carrying the GoldStar mark, in November 1959. A fan followed in 1960. Radios went to the United States in 1962. The first Korean refrigerator left the line in 1965. The first Korean 19-inch black-and-white set, the VD-191, followed in August 1966.
The Yeonji-dong works closed when a larger electrical-equipment plant opened in Oncheon-dong, Dongnae, in 1964. Corporate offices later moved to Seoul. Lucky and GoldStar combined the names as Lucky-Goldstar in 1983 and shortened the letters to LG in 1995.
The official date of establishment as a private company is 1 October 1958. Incorporation followed on 17 February 1959. Exports crossed 100 million dollars in 1978 currency. The first U.S. plant opened in Huntsville, Alabama, in 1982.
The Yeouido towers are the later headquarters. The first radio was assembled in a Busan neighborhood that already made Lucky toothpaste and PVC pipe.
Photo: Carey Ciuro, CC BY 2.0, via Wikimedia Commons
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