GS Holdings was founded in 2004. In March 2005, following a partnership with LG, GS announced its official start as a group of companies specializing in energy, distribution and construction. GS aims to become a global company, extending its limits beyond Korea. It operates through the following businesses: petroleum and petrochemical, retail, home shopping, energy and sports. GS Holdings reported sales of KRW15.38 trillion ($13.60 billion) for the year ending December 2017. This represents an increase of 21.0% over 2016.