Samsung History

Samsung started in 1938 as a small trading company located in Su-dong near Daegu city.It
was founded by Lee Byung-chul. He had only forty employees and the company’s major
business was production and distribution of groceries within the city.

In 1947, as the company began to grow Lee put up their office in Seoul. He soon started a
sugar refinery which also succeeded in a very short span of time. Lee was a very ambitious
person and in 1954 built the largest woollen mill in Korea located in the suburbs of Daegu
city.

Soon he had ventured into various other sectors like insurance, retail and securities. He was a
firm believer in industrialization and wanted that Samsung Group to become the industry
leader in almost all the sectors. In the 1960’s the Samsung Group entered the electronics
industry confidently.

It was relying on the huge capital that it had at disposal for making new innovative products.
Very soon Samsung was able to release its first product which was a black and white
television set. By now it has more than 6 divisions each focussing on individual products like
the semiconductor, telecommunications, hardware, etc.

Success in the Following Years

Soon it acquired telecommunications giant Hanguk Jeonja Tongsin in 1980. They started
producing telephone, fax machines, switchboards with great success and created the base for
their large-scale productions in the years to come. In the 1980’s all these production units
came under one company named Samsung Electronics Co., Ltd.

With their founder's death they did not lose his philosophy of large-scale expansion and
development. They invested millions of dollars in research for better technology for their
electronics products. They started building manufacturing plants in places like New York,
Texas, London, Portugal etc.

Samsung also focussed on its construction company and was able to grab big projects like
building the Burj Khalifa, the world’s tallest building and also the Petronas Towers in
Malaysia. In the 1990’s they refocused themselves and put electronics, constructions and
chemicals on the top of their priority list.
 Subsidiary compaies of Samsung Group:
Samsung Electronics: is a South Korean multinational electronics company headquartered
in Suwon, South Korea, It is the world's second largest information technology company by
revenue, after Apple.[5] Samsung Electronics has assembly plants and sales networks in 80
countries and employs around 370,000 people.

Samsung C&T Corporation : Samsung C&T Corporation (Construction & Trading

Corporation), was founded in 1938 as a parent company of Samsung Group to engage in
overseas sales operations.

Samsung SDS : established in 1985, as a subsidiary of Samsung group has been providing
information technology services.

Samsung Life Insurance : is a South Korean multinational insurance company

headquartered in Seoul, South Korea, and a subsidiary of the Samsung Group. It is the largest
insurance company in South Korea and a Fortune Global 500 company.