Science Fair Project Encyclopedia
Samsung Group
| Samsung | |
| Korean Name | |
|---|---|
| Revised Romanization | Samseong |
| McCune-Reischauer | Samsŏng |
| Hangul | 삼성 |
| Hanja | 三星 |
The Samsung Group is one of the largest electronics companies in the world. Founded on March 1, 1938 in Daegu, Korea, it operates in around 58 countries and has over 208,000 workers. The turnover in 2003 was about 101.7 billion USD. Among the top 100 brands of the world, Samsung is the only Korean brand.
At present, Samsung operates in 5 business areas, namely Telecommunications (Mobile Handsets and Network), Digital and Home Appliances (including washing machines, microwave ovens, refrigerators, VHS and DVD players, etc), Digital Media, LCD, and Semiconductors.
Samsung (meaning three stars in Korean) was founded by Lee Byungchul.
Samsung is one of the largest South Korean conglomerates ("chaebol"). It started as an exports company in 1938 but soon diversified.
| Contents |
1950s
In 1953, Samsung started sugar production, a business no longer part of Samsung. In 1958 insurance services started.
1960s
In 1965 a department store opened in Kwanjou.
In 1967 Samsung started the Joong-Ang Ilbo daily newspaper. Today this paper has no affiliation with the company.
Samsung Electronics was founded in 1969.
1970s
In 1974 Samsung petrochemical and heavy industries followed. The company was awarded an export prize by the government as a part of the country's development programme in 1976. As a result, Samsung construction emerged three months later the following year. Shipbuilding was added in 1977.
1980s
The enormous diversification of the 70s continued in the 1980s. In 1982, Samsung established a professional baseball team. In 1983 Samsung produced its first computer chip: a 64k DRAM. Towards the end of the decade, Samsung pushed its efforts in petrochemicals and electronics.
1990s
The 1990s saw Samsung rise as an international corporation. Not only did it acquire a number of businesses abroad, but also began leading the way in certain electronic components. Samsung's construction branch was awarded the contract to build one of the two Petronas Towers in Malaysia in September 1993.
Samsung survived the Asian financial crisis of 1997-98 relatively unharmed. It has kept expanding since then. Samsung's brand strength has improved impressively in the last few years, despite an environment of scandal and political intrigue. Samsung is now one of the leading manufacturers in plasma displays, although it has struggled with building an image of being an innovator created by legal controversies over patent infringements with companies such as Fujitsu who claim to have created plasma display technology first.
Subsidiaries
- Samsung Electronics Co., Ltd.
See also
- List of Korean companies
- List of Korea-related topics
- FidoBag, a hoax by Samsung
External links
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