Samsung Group Company History

Samsung Logo
Samsung Group Company History - Samsung Group is one of the world's largest electronics companies. Established on March 1, 1938 in Daegu, Korea, the company operates in 58 countries and has more than 208 000 workers. In 2003 its revenue was U.S. $ 101.7 billion.

Today, Samsung operates in six business areas, namely telecommunications (mobile phones and networks), digital household appliances (including washing machines, microwave ovens, refrigerators, VHS and DVD player, etc.), digital media, LCD, semiconductors, and motor vehicles (including heavy equipment).

Samsung (which in Korean means three stars) was founded by Lee Byungchul.

Samsung is one of the conglomerates (chaebol) of South Korea that began where the largest export company in 1938 and quickly developed into other areas.

Samsung is one of the world's largest providers of technology. Beginning as a trading company exporting various products from South Korea to Beijing, China. Founded by Lee Byung-chul in 1938, Samsung has gradually evolved into today's multinational corporations.

The word Samsung means "three stars" in Korean. It is a name associated with various types of businesses in South Korea and various parts of the world. Internationally, people associate the name with electronics, information technology and development.

History of Samsung
Lee Byung Chull

Samsung's history began in 1938 when Lee Byung-Chull (1910-1987) came from a family of land owners in the area Uiryeong come to town and set up a Samsung Sanghoe Daegu, a small trading company with forty employees, located in the Su-dong ( now Ingyo-dong).

Lee built a company that is progressing and he moved its headquarters to Seoul in 1947. When the Korean War, Lee was forced to leave Seoul and Busan begin refining sugar in the name of Cheil Jedang. After the war, in 1954, Lee founded the Cheil Mojik and build a factory in Chimsan-dong, Daegu as a woolen mill.

Lee tried to establish Samsung as the industry leader in many fields, such as insurance, securities, and retail. In the late 1960s, the Samsung Group's electronics industry began to develop and establish an electronic division, such as Samsung Electronics Devices Co., Samsung Electro-Mechanics Co., Samsung Corning Co., and Samsung Semiconductor & Telecommunications Co., and making facilities in Suwon.

The first product is a black and white television set. In 1980, the Company purchased Samsung Hanguk Jeonja Tongsin in Gumi, and began to build a telecommunications device. The product originally was switchboards.

This facility has evolved into a manufacturing system and a telephone and fax Samsung mobile phone manufacturing center. They have produced over 800 million phones. Their companies grouped together under Samsung Electronics Co., Ltd. in the 1980s.

In the late 1980's and early 1990's, Samsung Electronics to invest in research and development, significant investment in driving the company to the forefront in the global electronics industry.

In 1982, Samsung built a television assembly plant in Portugal, in 1984, Samsung built a factory in New York, in 1985, Samsung built a factory in Tokyo, in 1987, samsung built facilities in the UK, and other facilities in Austin in 1996.

In total, Samsung has invested $ 5.6 billion at Austin - by far the largest foreign investment in Texas and one of the largest single foreign investment in the United States. Samsung new investment in Austin is a total of more than $ 9 billion.

Samsung start to rise as an international company in the 1990s. Samsung's construction branch awarded a contract to build one of the two Petronas Towers in Malaysia, Taipei 101 in Taiwan and the Burj Khalifa in the United Arab Emirates.

In 1993., Lee Kun-hee selling ten subsidiaries of Samsung Group, the company downsized, and other operations combined to concentrate on three industries, namely electronics, engineering, and chemicals. In 1996, Samsung Group bought back the Sungkyunkwan University foundation.

Compared to other Korean major companies, Samsung survived the Asian financial crisis of 1997 had no effect relatively large. However, Samsung Motor sold to Renault because of significant losses.

In 2010, Renault Samsung's 80.1 percent stake owned by Renault and 19.9 percent owned by Samsung. In addition, Samsung manufactures a variety of aircraft of the 1980s-1990s.

The company was founded in 1999 as the Korea Aerospace Industries (KAI), then the result of a merger between three major domestic aerospace division of Samsung Aerospace, Daewoo Heavy Industries and Hyundai Space and Aircraft Company.

Samsung became the largest producer of memory chips in the world in 1992, and the world's second-largest chipmaker after Intel. Ten years later, Samsung grew into the largest producer in the world to make liquid-crystal display panel.

In 2006, S-LCD was established as a joint venture between Samsung and Sony in order to provide a stable supply of LCD panels to operate their factories and build the facility in Tangjung, South Korea.

Samsung Electronics surpassed Sony as one of the most popular brand in the world of consumer electronics in 2004 and 2005, and is now ranked 19th in the world as a whole.

Samsung became the second largest company by volume of the world after Nokia mobile phone manufacturers, especially the leading market share in North America and Western Europe.

Samsung's success as a provider of technology continues to evolve through the eighties such as Samsung Electronics has joined forces with Samsung Semiconductor and Telecommunications.

Samsung Notebook

Samsung Notebook

This paved way to keep strong in the international market with high-tech products that will become a staple in every home.

This development continued on the next decade as Samsung continues to exceed the limits and restructuring business plans to accommodate the global scene.

Adopt a new form of management proved to be a wise move for the company as a product of their runs in the top list of must-have in their various fields.

TV-LCD, the picture tube, Samsung printers and other high-tech products become known for their acquisition of high quality. When Samsung ventured into the LCD industry in 1993, became the best in the world.

Excellent method of quality control company that made her successful in providing only the best products for the whole world.

It applies a "Stop Line" system in which every person can stop the production process in the event that the product is found to be substandard.

For now, Samsung continues to maintain its status as the best operator in the world "it" technology. Its highly qualified labor force is still striving for excellence in their respective fields to make the whole enterprise a big success in the making.

The secret of success continued in the constant improvement of corporate management structure and the application of his philosophy: "We will devote human resources and technology to create products and services, thus contributing to a better global society."

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