GS Group
Encyclopedia
GS Group is a Korean
conglomerate
. GS comprises GS Holdings and subsidiaries & affiliates including GS Caltex, GS Retail, GS Shop, GS EPS, GS Global, GS Sports
and GS E&C among others. The asset size is at 31.1 trillion KRW as the end of 2007 placing GS at the 6th largest in Korea excluding the public business companies.
GS Holdings Corp. was 'spun off' from LG Corp. on July 1, 2004 and was incorporated as a holding company
. In December 2005, the company acquired 70% of the shares of GS EPS Co., Ltd. (formerly LG Energy Co., Ltd.) from GS E&C Corporation and LG International Corp.
The Koo family retained control of the LG Group while the Heo family formed GS Holdings. Convenience stores, and other retail companies which formerly operated under the LG logo were rebranded as "GS", which, like "LG", comes from the old name "Lucky Goldstar".
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
conglomerate
Chaebol
Chaebol refers to a South Korean form of business conglomerate. They are global multinationals owning numerous international enterprises. The term is often used in a context similar to that of the English word "conglomerate"...
. GS comprises GS Holdings and subsidiaries & affiliates including GS Caltex, GS Retail, GS Shop, GS EPS, GS Global, GS Sports
FC Seoul
FC Seoul is a South Korean professional football club based in Seoul, South Korea, that plays in the K-League. It is currently owned by GS Sports, a subsidiary of GS Group....
and GS E&C among others. The asset size is at 31.1 trillion KRW as the end of 2007 placing GS at the 6th largest in Korea excluding the public business companies.
GS Holdings Corp. was 'spun off' from LG Corp. on July 1, 2004 and was incorporated as a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
. In December 2005, the company acquired 70% of the shares of GS EPS Co., Ltd. (formerly LG Energy Co., Ltd.) from GS E&C Corporation and LG International Corp.
The Koo family retained control of the LG Group while the Heo family formed GS Holdings. Convenience stores, and other retail companies which formerly operated under the LG logo were rebranded as "GS", which, like "LG", comes from the old name "Lucky Goldstar".
Subsidiaries
- GS CaltexGS CaltexGS Caltex is a South Korean oil refiner. The company changed its name from LG-Caltex Oil Corporation to GS Caltex Corporation on January 27, 2006...
the second-largest Korean refiner, is owned equally by GS Holdings Corp. and Chevron CorporationChevron CorporationChevron Corporation is an American multinational energy corporation headquartered in San Ramon, California, United States and active in more than 180 countries. It is engaged in every aspect of the oil, gas, and geothermal energy industries, including exploration and production; refining,...
, the second-largest U.S. oil company.