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LG was formed from two different companies named Lucky (chemical cosmetic company, 1947) and Goldstar (radio manufacturing plant, 1958). Though, these were different companies they were essentially owned by one person. In 1995, Lucky Goldstar was renamed to LG Electronics.
Actually, LG is a chaebol (a South Korean conglomerate), so there’s a whole range of LG companies that also changed their names, such as LG Chemicals, LT Telecom, and even a baseball team called the LG Twins. These companies all adopted the “Life is Good” tagline you often see alongside its logo. LG denies that their name now stands for Lucky Goldstar. They’re just “LG.”