#43

Around 55 years ago, a father and his son started a cosmetic cream factory. At the time, no company could supply them with plastic caps of adequate quality for cream jars, so they had to start a plastic business. Obviously, plastic caps alone were not sufficient to run the plastic-molding plant, so they added combs, toothbrushes, and soap boxes.

Then, this plastic business also led them to manufacture electric fan blades and telephone cases, which in turn led them to manufacture electrical and electronic products and telecommunication equipment.

The plastics business also took them into oil refining (as plastic is a by-product of oil) which needed a tanker-shipping company. However, the oil-refining company alone was paying an nsurance premium amounting to more than half the total revenue of the then largest insurance company in the country. So they started an insurance company to cover that oil-refining company.

Time flies … and nowadays they have chemical, energy, semiconductor, fiber optic, satellite and electronics industries … all started from a small cosmetic cream business.

This company is in fact called Lucky-Goldstar, and as you may know it from its’ another name – LG from Korea.

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Fear less, hope more; Eat less, chew more; Whine less, breathe more; Talk less, say more; hate less, Love more; and all good things will be yours!” Swedish proverb

Author: Michael Yung

Michael possessed over 30 years of experience in Information Technology with focuses on complex application development, database technologies and IT strategy. He also spent the last 20 years in Internet technology, eCommerce development / operations, web usability, computer security and Public Key Infrastructure technologies.

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