Introduction

Topics: Samsung Group, Samsung Electronics, Chaebol Pages: 2 (653 words) Published: March 17, 2012
Introduction
Samsung was founded in 1938 in Korea by Byung Chull Lee with the equivalent of about 20 Euros as a small trading company, supplying rice and agricultural commodities to neighbour countries. Today Samsung is composed of 38 businesses including electronics, chemicals, machinery, construction, textiles, entertainment, financial services, insurance etc. with 423 offices and facilities in 70 countries. The Samsung Group is South Korea's largest company or chaebol and the world's second largest conglomerate by revenue, leading several industries in the world. It is composed of numerous international businesses, all united under the Samsung brand, including Samsung Electronics, the world's largest electronics company, Samsung Heavy Industries, one of the world's largest shipbuilders and Samsung Engineering & Construction, a major global construction company. These three multinationals form the core of Samsung Group and reflect its name - the meaning of the Korean word Samsung is "tristar" or "three stars". The Samsung brand is the best known South Korean brand in the world and in 2005, Samsung overtook Japanese rival Sony as the world's leading consumer electronics brand and became part of the top twenty global brands overall. It is also the leader in many domestic industries, such as the financial, chemical, retail and entertainment industries.

Samsung Group is South Korea's largest company and exporter and the world's fifteenth largest conglomerate.[3] Currently helmed by Lee Soo-bin, CEO of Samsung Life Insurance, it has been run by generations of one of the world's wealthiest families, formerly by chairman Lee Kun-Hee, the third son of the founder, Lee Byung-Chul. Samsung Group is recognized as the most prestigious firm in South Korea, attracting many of the country's most intelligent and talented pupils, with 25% of its employees having a PhD degree or equivalent. Samsung Group also owns the Sungkyunkwan University, a major private university...
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