The history of Samsung

You will no doubt be aware of the Samsung brand, and you may well have a piece of Samsung technology in your home. We tend to think of Samsung as being an electronics company, but did you know that Samsung also build ships? In fact, this massive conglomerate operates within many industry sectors, composing of numerous international businesses.

It is by far and away the most famous brand ever to emerge from South Korea, and has surpassed even its Japanese rival Sony to lead the field of consumer electronics.

Established in 1938 as nothing more than a fruit and vegetable exporter, Samsung soon grew to incorporate food production and sales operations that would grow and grow to eventually become the Samsung brand that we know today.

Despite the hardships presented by the march of the communist regime in 1950, Lee Byung-Chull persevered, re-establishing his business in 1951, this time moving to Suwon. His trading company did extremely well, leading to the opening of a sugar refinery in 1953. From here, they moved into service industries like insurance and securities.

It seemed that every sector Lee Byung-Chull entered, he mastered, and he was a success in each. This led to further investment potential, and in 1969 he was able to start Samsung Electronics. Their first product was the black and white television, of which they had produced one million of by 1976.

Samsung were fortunate to have a President in place at the time who was aware of the importance of growth within the fledgling industries of Korea, and the company was offered government funding and support which helped the company to grow strong enough to compete on a global scale.

By the mid 1970s, the rest of the world was crying out for new electronics products. People were starting to see the benefits that electronics could provide for their homes and Samsung were ready and willing to provide them with every home electronics product they could wish for.

Samsung in 2009 is a still a leader in the electronics field, specialising in mobile phone and LCD television technologies. Although still a diverse group, Samsung now tend to invest most heavily in the engineering, chemical and electronic industries

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