Mm Term Paper - Samsung

Topics: Samsung Group, Samsung Electronics, Chaebol Pages: 7 (2141 words) Published: March 17, 2013
Term Paper on SAMSUNG INTRODUCTION Samsung Group (informally Samsung) is a South Korean multinational conglomerate company headquartered in Samsung Town, Seoul. It consists of numerous subsidiaries and affiliated businesses, most of them united under the Samsung brand. It is by far the largest South Korean business conglomerate. For over 70 years, Samsung has been dedicated to making a better world through diverse businesses that today span advanced technology, semiconductors, skyscraper and plant construction, petrochemicals, fashion, medicine, finance, hotels, and more. Through innovative, reliable products and services; talented people; a responsible approach to business and global citizenship; and collaboration with our partners and customers, Samsung is taking the world in imaginative new directions. Notable Samsung industrial subsidiaries include Samsung Electronics (the world's largest information technology company measured by 2011 revenues), Samsung Heavy Industries (the world's second-largest shipbuilder measured by 2010 revenues), Samsung Techwin (weapons technology and optoelectronics), and Samsung Engineering and Samsung C&T (respectively the world's 35th- and 72nd-largest construction companies). Other notable subsidiaries include Samsung Life Insurance (the world's 14th-largest insurance company), Samsung Everland (the oldest theme park in South Korea) and Cheil Worldwide (the world's 19th-largest advertising agency measured by 2010 revenues). Samsung produces around a fifth of South Korea's total exports. In 2006, it was world's 35thlargest economy. The company has majorly influenced South Korea's economic development, politics, media and culture. According to the founder of Samsung Group, the meaning of the Korean Hanja word Samsung is "Tri-Star" or "three stars". The word "three" represents something "big, numerous and powerful"; the "stars" mean eternity. HISTORY Samsung has an extremely vast and inspiring history which demonstrates its values of People, Excellence, Change, Integrity and Co-prosperity. Here are some excerpts: 1938: Lee Byung-chull (1910–1987) of a large landowning family in the Uiryeong county came to the nearby Daegu city and founded Samsung Sanghoe, a small trading company with forty employees located in Su-dong (now Ingyo-dong). It dealt in groceries produced in and around the city and produced its own noodles.

1947-1950: 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 as a name of Cheil Jedang. 1954: After the war, in 1954, Lee founded Cheil Mojikand built the plant in Chimsan-dong, Daegu. It was the largest woolen mill ever in the country and the company took on an aspect of a major company. In the late 1960s, Samsung Group entered into the electronics industry. It formed several electronics-related divisions, such as Samsung Electronics Devices Co., Samsung ElectroMechanics Co., Samsung Corning Co., and Samsung Semiconductor & Telecommunications Co., and made the facility in Suwon. Its first product was a black-and-white television set. 1980: Samsung acquired the Gumi-based Hanguk Jeonja Tongsin and telecommunications hardware industry. Its early products were switchboards. entered the

1987: After the founder's death in 1987, Samsung Group was separated into four business groups - Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Shinsegae (discount store, department store) was originally part of Samsung Group, separated in the 1990s from the Samsung Group along with CJ Group (Food/Chemicals/Entertainment/logistics) and the Hansol Group (Paper/Telecom). Today these separated groups are independent and they are not part of or connected to the Samsung Group. 1990s: Samsung started to rise as an international corporation in the 1990s. Samsung's construction branch was awarded a contract to build one of the two Petronas Towers in Malaysia,...
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