When you turn on the tv, it shows only white screen, and it stays just that way
Sounds like its main baord [digital processor side] circuit has damaged. In most cases, the board might have to be replaced, as there is no repair possible to this board. To get some details, http://electronicshelponline.blogspot.com/ Pull up older posts.
Testimonial: "Thanks tech, since I do not possess the expertise to do that myself, it will serve as a clue to the technician I'll invite. Once it works i will drop a testimonial!"
SOURCE: No I need a screen for a LG LCD 42 inch TV . .My
a new screen is like a new tv $1000 - 1500 for a panel
SOURCE: 42 inch lg tv powers on,goes off after about 30 seconds
hello my friend you have some loose connections on the digital board.this board is located right in the top center of the tv.if you do not have repair skills call the repairman he should not charge you too much for this job. good luck
SOURCE: what will i do to my damaged 42 inch LCD LG TV it
Check ur power sources?Yes,than tries websites like Shopjimmy.com,Ebay.com to buy a refurbish power supply board for the replacement.
SOURCE: lg 42 inch lcd tv white screen
Hello
The digital processor board has the fault. Checking this baord, and repairing it is a very skilled work, and an experienced service technician only can do this.
about the only simple thing would depend on if you can safely get the back off to look at the power board.
Danger there is if set placed face down to remove cover, any downward pressure can destroy the front screen, it has to be put face down so frame around screen is support with no weight on the screen itself.
A common failure in these sets is filter caps or capacitors, follow power cord to the power board and LOOK for puffed up caps and if find even one on that board or elsewhere puffed up it will be easy to replace and not expensive---I only mention this as it is common and not real hard to fix.
I will attach some photos I have gathered that show this from mild to severe. If you get it open look carefully.
It may or may not be your problem but since it is common and easy to see start there. 
the one on the right is a mild case but is bad.
The ones with the arrows are moderate but also bad.
These two remind me of the old popcorn you put on the stove and waited for it to puff up, extreme.
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