GoldStar was an electronics company established in 1958. The corporate name was changed to LG Electronics and LG Cable in 1995. LG Cable was changed to LS Cable in 2005.
Lucky created an electrical appliance manufacturer in 1958 called Goldstar Company, Ltd., whose first product was a simple electric fan. The following year, with a new factory located at Pusan, Goldstar introduced the country’s first line of domestically-produced radios. These products were unsophisticated and generally unfit for sale abroad. In addition, Goldstar lacked marketing arms in foreign markets. Parallel to Matsushita’s experience, Goldstar’s products would first satisfy domestic demand (and thereby substitute for more expensive imports) until design changes and improvements could be incorporated. Goldstar would then enter the international market with more thoroughly tested, modern, and competitive products.
Goldstar Co., Ltd. is the largest manufacturer of electrical appliances and consumer electronics in South Korea (Republic of Korea). It led domestic production of major appliances like televisions, refrigerators, and washing machines, and was also a major global supplier of semiconductors and liquid-crystal displays in the mid-1990s. With approximately $6 billion in 1994 sales, Goldstar formed the primary division of the giant Lucky-Goldstar chaebol, or business group.