The History of Samsung

Topics: South Korea, Samsung Group, Samsung Electronics Pages: 3 (779 words) Published: June 25, 2012
The history of Samsung
The Samsung Group emerged as one of the largest organization in the world over the years while the company is known for their technology division as well. The company is a South Korean multinational conglomerate company in Samsung Town, Seoul, South Korea. The size of the company is almost inestimable in recent years. Thus, I choose the Samsung group as the organization for my assignment.

The founder of the Samsung is Lee Byung Chull who started his business by exporting fruits, vegetables and dried fish in Su-dong in 1938. He built up his groceries business and produced noodles with forty employees. In 1947, his business had expanded to Seoul. Unfortunately, he forced to leave Seoul when the Korean War broke out and relocated his business to Suwon in 1951. With his fighting spirit, his company gained his profits at 2000 percents in two years. Then, he built a sugar refinery in Busan and continuously developed his business such as mill, insurance, securities and retail for commercial purpose. Lee placed a great importance on industrialization and tends to establish Samsung as an industry leader in South Korea.

With the policies which practised by the president, Park Chung-hee who provided the financial assistance to the companies within South Korea. The rise of Samsung Electronics was formed in 1969. Park Chung-hee also prohibited other foreign companies from doing their business and allowed certain companies access to South Korea with the condition of supplying their technology, skills and knowledge. This crucial move allowed Samsung Electronic able to produce electronic boards and chips. Soon, Samsung can create its own household appliances such as fridges, freezers, washing machines and air conditioners.

In the early of 70s, Samsung group entered into the electronics industry successfully. The company also started to manufacture televisions and audio apparatus and open their television station called the Tongyan Broadcasting...
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