ESP and LTD are the names of a guitar company which makes electric guitars. They are the same company with the only difference being the lines they have created. ESP is the custom guitar line which is upscale, and LTD is the cheaper Standard Series line which is more affordable.
LTD was started in 1995 so that the high-quality guitars could be sold as a more affordable product. These guitars were cheaper and more affordable because the hardware used and the material used for their production was cheaper than the Signature line.
Many different Standard LTD models have been produced since the introduction of the Standard Series. One of the series, the 100 Series LTDs, is made in Korea, and the 401 Series is produced in Indonesia.