Do you ever think what Samsung did when they were founded? Samsung was founded by Lee Byung-Chul in 1938 as a trading company. The company started as a food exporter with forty employees located in the Su-dong (now Ingyo-dong). They export items like dried Korean fish, vegetables and fruit to Manchuria and Beijing.
The company prospered and Lee moved its head office to Seoul in 1947. When the Korean War broke out, he was forced to leave Seoul. He started a sugar refinery in Busan named Cheil Jedang. In 1954, Lee founded Cheil Mojik and built the plant in Chimsan-dong, Daegu. It was the largest woolen mill ever in the country.During 1950-1960 they also included a life insurance in their business.
In 1947, Cho Hong-jai, the Hyosung group’s founder) jointly invested in a new company called Samsung Mulsan Gongsa, or the Samsung Trading Corporation, with the Samsung’s founder Lee Byung-Chul. The trading firm grew to become the present-day Samsung C&T Corporation. After a few years, Cho and Lee separated due to differences in management style. Cho wanted a 30 equity share. Samsung Group was separated into Samsung Group and Hyosung Group, Hankook Tire, and other businesses.
In the late 1960s, Samsung Group entered into the electronics industry. It formed several electronics-related divisions, such as Samsung Electronics Devices, Samsung Electro-Mechanics, Samsung Corning, and Samsung Semiconductor & Telecommunications. Samsung’s first black and white TV went on sale in 1970. Samsung expands into more fields in 1970 including Petrochemicals. Samsung launched a theme park “Everland” in 1976; Samsung Everland has steadily built its presence across the markets of golf, building management, food and beverage, energy and environment.
In 1980, Samsung acquired the Gumi-based Hanguk Jeonja Tongsin and entered the telecommunications hardware industry. The facility was developed into the telephone and fax manufacturing systems and became the center of Samsung’s mobile phone manufacturing. They have produced over 800 million mobile phones to date. In 1982 Samsung also introduced The SPC-1000, was Samsung’s first personal computer which used an audio cassette tape to load and save data. After Lee’s death in 1987, Samsung Group was separated into four business groups—Samsung Group, Shinsegae Group, CJ Group, and the Hansol Group. Samsung teamed up with BP in 1989 to form Samsung BP Chemicals. The company sells chemical products in Korea.
Samsung started to rise as an international corporation in the 1990s. Samsung’s construction branch was awarded a contract to build one of the Petronas Towers in Malaysia, Taipei 101 in Taiwan and the Burj Khalifa in the United Arab Emirates. In 1993, Lee Kun-hee sold off ten of Samsung Group’s subsidiaries, downsized the company, and merged other operations to concentrate on three industries: electronics, engineering, and chemicals.
Samsung became the largest producer of memory chips in the world in 1992, and is the world’s second-largest chipmaker after Intel. In 1995, it created its first liquid-crystal display screen. Ten years later, Samsung grew to be the world’s largest manufacturer of liquid-crystal display panels; it released one of its first Internet-ready phones in 1999.
Samsung Began making HD TVs from early 2000. In 2006 Samsung became world’s largest television manufacturer, today 98% of the AMOLED market is captured by Samsung. Now they still manufacture the world’s one of the best HD TVs.
Samsung introduced its first flagship Android phone, the Galaxy S, at the Mobile World Congress in 2010. The phone is now reaching its 6th generation. In 2011 Samsung became world’s largest smartphone manufacturer.
If you think how much bigger Samsung is I will give you some idea, in terms of money Samsung reported 305 billion which is more than Apple and Google. Samsung is 17 % GDP of Korea
List of the different business of Samsung
1. Ace Digitech
2. Cheil Industries
3. Cheil Worldwide
4. Imarket Korea
5. Samsung Card
6. Samsung SDS
7. Samsung C&T Corporation
8. Samsung Electro-Mechanics
9. Samsung Electronics
10. Samsung Engineering
11. Samsung Everland
12. Samsung Fine Chemicals
13. Samsung Fire & Marine Insurance
14. Samsung Heavy Industries
15. Samsung Life Insurance
16. Samsung Machine Tools
17. Samsung Medical Center
18. Samsung SDI
19. Samsung Securities
20. Samsung Techwin
22. Shilla Hotels and Resorts
23. S-1 Corporation
With this enormous size, that’s how Samsung become Global Brand.