We report on a plan to construct a 50-m-class single-dish telescope, the Large Submillimeter Telescope (LST). The conceptual design and key science behind the LST are presented, together with its tentative specifications. This telescope is optimized for wide-area imaging and spectroscopic surveys in the 70-420 GHz frequency range, which spans the main atmospheric windows at millimeter and submillimeter wavelengths for good observation sites such as the Atacama Large Millimeter/submillimeter Array (ALMA) site in Chile. We also target observations at higher frequencies of up to 1 THz, using an inner high-precision surface. Active surface control is required in order to correct gravitational and thermal deformations of the surface, and will be useful for correction of the wind-load deformation. The LST will facilitate new discovery spaces such as wide-field imaging with both continuum and spectral lines, along with new developments for time-domain science. Through exploitation of its synergy with ALMA and other telescopes, the LST will contribute to research on a wide range of topics in the fields of astronomy and astrophysics, e.g., astrochemistry, star formation in our Galaxy and galaxies, the evolution of galaxy clusters via the Sunyaev-Zel'dovich (SZ) effect, the search for transients such as γ-ray burst reverse shocks produced during the epoch of re-ionization, electromagnetic follow up of detected gravitational wave sources, and examination of general relativity in the vicinity of super massive black holes via submillimeter very-long-baseline interferometry (VLBI).