Samsung : The Booster of South Korean economy

                Samsung is the largest chaebol (business  conglomerate) of South Korea. In fact, it is the world's largest information technology company in terms of its revenues in 2012.
                Samsung is also the world's 2nd largest ship builder as per the 2010 revenues.
                Samsung Engineering and Samsung C&T are the 13th and the 36th largest construction companies.
                Another fascinating subsidiary of Samsung is Samsung Life Insurance Company which is the world's 14th largest life insurance company.
                Cheil worldwide is world's 15th largest advertising agency measured by 2012 revenues.


                Generating a revenue of US$ 305 billion, Samsung accounts for 17% of the GDP of South Korea. Its assets worth US$ 529.5 billion. Its total equity accounts for US$ 231.2 billion. The company contributes employment to 4,89000 people.

               Apparel, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, ships and telecommunications equipment are the products manufactured by Samsung group.
               Its tertiary sector comprises Advertising, construction, entertainment, financial services, hospitality and information and communications technology. medical and health care services, retail and ship building.
                The subsidiaries of Samsung are Samsung Electronics, Samsung Life Insurance, Samsung Fire and Marine Insurance, Samsung Heavy Industries, Samsung C& T Corporation, Samsung SDS, Samsung Techwin and Renault Samsung Motors.

                Having been founded as a trading company in 1938, Samsung got diversified into the different areas over the next three decades.   These areas comprise food processing, textiles, insurance, securities and retail.
                Samsung entered the electronic industry in the late 1960's and the construction and shipbuilding industries in the mid-1970's. These areas have ensured its tremendous growth.

                Lee's death in 1987 was followed by the separation of Samsung into four business groups - Samsung Group, CJ Group and Hansoi Group.

                Since 1990's, mobile phones and semi-conductors have become the chief source of income to Samsung.
                

The Korean hero

   Who is the Korean hero ?

             Indeed, Lee Byung Chull is the hero of South Korea. His journey extends from groceries to Samsung. Lee founded Samsung in 1938. Its headquarters are located at Seoul, South Korea. Samsung renders its services worldwide. Today, Lee-Kun-Hee is the chairman of Samsung Electronics. According to the Report of 2014, Samsung has generated employment for 489000 people.
 
        The products manufactured by Samsung group are Apparel, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, ships and telecommunications equipment. Its tertiary sector comprises Advertising, construction, entertainment, financial services, hospitality and information and communications technology. medical and health care services, retail and ship building. The subsidiaries of Samsung are Samsung Electronics, Samsung Life Insurance, Samsung Fire and Marine Insurance, Samsung Heavy Industries, Samsung C& T Corporation, Samsung SDS, Samsung Techwin and Renault Samsung Motors.
   
               In 2014, Samsung generated a revenue of US$ 305 billion. Its net come was US$21 billion. Its total assets worth US$ 529.5 billion.
       

Do you know the story of SAMSUNG ?

Samsung is comprised of more than 78 different companies and affiliates in a wide range of businesses.

                                                 


About the founder :

Lee Byung-chull(1910–1987) of a large landowning family in the Uiryeongcounty came to the nearby Daegu city and 
founded Samsung Sanghoe(삼성상회, 三星商會), a small trading company with forty employees in 1938. It was 
located in Su-dong (now Ingyo-dong). It dealt in groceries produced in and around the city and produced its own noodles.

The journey of Samsung :

In 1938,  The company prospered and Lee moved its head office to Seoul in 1947. When the Korean War broke out, 

however, he was forced to leave Seoul and started a sugar refinery in Busan named Cheil Jedang. After the war, in 1954, 

Lee founded Cheil Mojik and built the plant in Chimsan-dong, Daegu. It was the largest woolen mill ever in the country and 

the company took on the aspect of a major company.

Samsung diversified into many areas and Lee sought to help establish Samsung as an industry leader in a wide range of 

enterprises, moving into businesses such as insurance, securities, and retail. President Park Chung Hee placed great 

importance on industrialization, and focused his economic development strategy on a handful of large domestic 

conglomerates, protecting them from competition and assisting them financially.

In 1947, Cho Hong-jai (the Hyosung group’s founder) jointly invested in a new company called Samsung Mulsan Gongsa (삼

성물산공사), or the Samsung Trading Corporation, with the Samsung Group founder Lee Byung-chull. The trading firm 

grew to become the present-day Samsung C&T Corporation. But after some years Cho and Lee separated due to 

differences in management between them. He wanted to get up to a 30% group share. After settlement, Samsung Group 

was separated into Samsung Group and Hyosung Group, Hankook Tire, and others^]

                                 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, and made the facility in Suwon. Its first product was a black-and-white television set.