Samsung

Samsung Group
Native name
삼성 (三星)
samseong (samseong)
TypePrivate
IndustryConglomerate
Founded1 March 1938 (1938-03-01) in Daegu, Japanese Korea
FounderLee Byung-chul
Headquarters40th floor Samsung Electronics Building, 11, Seocho-daero 74-gil, ,
Area served
Worldwide
Key people
Lee Jae-yong
(Chairman)
ProductsClothing, automotive, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, solid state drives, DRAM, flash memory, ships, telecommunications equipment, home appliances[2]
ServicesAdvertising, construction, entertainment, financial services, hospitality, information and communications technology, medical and health care services, retail, shipbuilding, semiconductor foundry
SubsidiariesSamsung Electronics
Samsung Engineering
Samsung C&T Corporation
Samsung Heavy Industries
Samsung SDS
Samsung Life Insurance
Samsung Fire & Marine Insurance
Cheil Worldwide
Websitesamsung.com
Samsung
Hangul
Hanja
Revised RomanizationSamseong
McCune–ReischauerSamsŏng

The Samsung Group[3] (Korean: 삼성) is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul.[1] It comprises numerous affiliated businesses,[1] most of them united under the Samsung brand, and is the largest South Korean chaebol (business conglomerate).

Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities, and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee's death in 1987, Samsung was separated into five business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group, and Joongang Group. Since 1990, Samsung has increasingly globalised its activities and electronics; in particular, its mobile phones and semiconductors have become its most important source of income. As of 2020, Samsung has the 8th highest global brand value.[4]

Notable Samsung industrial affiliates include Samsung Electronics (the world's largest information technology company, consumer electronics maker and chipmaker measured by 2017 revenues),[5][6] Samsung Heavy Industries (the world's 2nd largest shipbuilder measured by 2010 revenues),[7] and Samsung Engineering and Samsung C&T Corporation (respectively the world's 13th and 36th largest construction companies).[8] Other notable subsidiaries include Samsung Life Insurance (the world's 14th largest life insurance company),[9] Samsung Everland (operator of Everland Resort, the oldest theme park in South Korea)[10] and Cheil Worldwide (the world's 15th largest advertising agency, as measured by 2012 revenues).[11][12]

Samsung has a powerful influence on South Korea's economic development, politics, media and culture and has been a major driving force behind the "Miracle on the Han River".[13][14] Its affiliate companies produce around a fifth of South Korea's total exports.[15] Samsung's revenue was equal to 17% of South Korea's $1,082 billion GDP.[16]

  1. ^ a b c "삼성계열사 전자 – 삼성그룹 홈페이지". Archived from the original on 20 September 2016.
  2. ^ "Home and Kitchen Appliance showcase". Samsung. Archived from the original on 9 March 2017.
  3. ^ "SAMSUNG ELECTRONICS Co., Ltd. 2020 Half-year Business Report" (PDF). Retrieved 8 September 2020.
  4. ^ "The 2020 World's Most Valuable Brands". 18 October 2020. Archived from the original on 18 October 2020.
  5. ^ "Samsung topples Intel to become the world's largest chipmaker – TechCrunch". techcrunch.com. Archived from the original on 25 May 2018. Retrieved 25 May 2018.
  6. ^ Mu-Hyun, Cho. "Samsung's logic chip biz turns to AI chips and 5G for change of fortune | ZDNet". ZDNet. Archived from the original on 3 July 2018. Retrieved 25 May 2018.
  7. ^ Park, Kyunghee (28 July 2009). "July 29 (Bloomberg) – Samsung Heavy Shares Gain on Shell's Platform Orders (Update1)". Bloomberg. Archived from the original on 24 September 2011. Retrieved 11 November 2010.
  8. ^ "The Top 225 International Contractors 2013". Enr.construction.com. Archived from the original on 21 July 2013. Retrieved 25 August 2013.
  9. ^ "Global 500 2009: Industry: - FORTUNE on CNNMoney.com". Money.cnn.com. 20 July 2009. Archived from the original on 31 August 2010. Retrieved 4 September 2010.
  10. ^ Valhouli, Christina (21 March 2002). "The World's Best Amusement Parks". Forbes.com. Archived from the original on 22 August 2010. Retrieved 11 September 2010.
  11. ^ "Cheil Worldwide Inc (030000:Korea SE)". businessweek.com. Archived from the original on 5 October 2012. Retrieved 16 September 2010.
  12. ^ "Cheil Worldwide (030000 KS)" (PDF). kdbdw.com. 26 April 2010. Archived (PDF) from the original on 4 October 2013. Retrieved 8 May 2013.
  13. ^ "Samsung and its attractions – Asia's new model company". The Economist. 1 October 2011. Archived from the original on 4 January 2012. Retrieved 11 January 2012.
  14. ^ "South Korea's economy – What do you do when you reach the top?". The Economist. 12 November 2011. Archived from the original on 10 January 2012. Retrieved 11 January 2012.
  15. ^ Hutson, Graham; Richards, Jonathan (17 April 2008). "Samsung chairman charged with tax evasion – Times Online". The Times. London. Archived from the original on 3 May 2011. Retrieved 28 February 2011.
  16. ^ Shell, Glencore, and Other Multinationals Dominate Their Home Economies Archived 11 April 2013 at the Wayback Machine 4 April 2013 BusinessWeek