This is an issue with the power supply. The capacitors used are faulty and you likely have to get a new board(about $400.00) or fix it yourself. LG's are quite east to disassemble.
You will be able to tell it is the power supply board due to the cable running from the plug to the board. It will look similar to this
Next locate the bad capacitor, likely green and about the size of a quarter. You will be able to tell the bad capacitor by the bulge on the top.
At this point you can buy the new capacitor at a local t.v. repair shop for just a couple bucks or likely take the board to them and they should be able to fix it for 10-20 bucks. Unless you are decent with soldering I suggest taking the board in and having them replace the bad capacitor.
You will need a 2200µF 10V capacitor. I may suggest bumping to 2200µF 13-16V capacitor just so you don't have the same problem again.
Once the bad capacitor is replaced, replace the board and turn on the t.v. You should be good to go.