The Story of Samsung Electronics

Samsung a dominant corporation in the world of automation and technology was established in the year 1938. When translated into the Korean language, the word Samsung (삼성) literally means “three stars”, this title was picked by its founder Lee Byung-Chul since he intended his company to become as formidable and eternal as stars in the sky.

March 1, 1938

Marking the beginning of Samsung

Lee Byung-Chul started “Samsung group” as a trading company at a grocery store and named it Samsung Sanghoe

March 1, 1938
June 25, 1953

Korean War

Lost all its assets to the Korean War

June 25, 1953

Entering the manufacturing industry

After the war, Samsung made an entry in the manufacturing industry (sugar, fabrics)
CheilJedang Corp(1953), 제일모직(1954)

Expansion of business

Samsung entered the insurance and broadcasting industry
Samsung Fire & Marine Insurance (1958),
Joongang Ilbo (1965)

Entering the electronics

Samsung Electronics was established in 1969

Further expansion of business

Samsung Card (1988), Samsung Securities (1992), Samsung Motors (1995)

Mobile business

Develops wireless internet smartphones.

March 23, 2010

Galaxy smartphone

The evolution of Samsung Galaxy Note begins

March 23, 2010

Samsung originated as Samsung Sanghoe, a small trading company that has grown tremendously to become what we know as Samsung Electronics today. This company’s exponential growth provided it with an ever-increasing impact, and its continued success led to Samsung’s dominance over the Korean industry. It is almost impossible to discuss all of Korea’s industries without mentioning Samsung.

As a result, Samsung wields enormous power in Korea, and the public has a high level of trust in the company, a corporation that employs more than 170,000 people.

Then what is the magnitude of the Samsung corporation in Korea?

Samsung at the present has 59 subsidiary companies with a market capitalization of around 700 trillion won. This is more than Korea’s annual budget, which is 550 trillion won. Samsung Electronics alone is valued at over 500 trillion won, accounting for almost 20% of the Korean stock market. Furthermore, Samsung’s subsidiaries generated 333 trillion won in sales in 2020, accounting for more than 17% of South Korea’s GDP. Therefore becoming the world’s second-largest technology company in terms of revenue.


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