Samsung

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Samsung
Industry Conglomerate
When it was created 1 March 1938; 80 years ago (1938-03-01)
Daegu, Japanese Korea
People who started it Lee Byung-chul
Area served Worldwide
Key people Lee Kun-hee (Chairman)
Lee Jae-yong (Vice-Chairman)
Things made Apparel, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, solid state drives, DRAM, ships, telecommunications equipment, home appliances[1]
Services Advertising, construction, entertainment, financial services, hospitality, information and communications technology, medical and health care services, retail, shipbuilding
Money earned Decrease US$305 billion (2014)[2]
Net income Decrease US$22.1 billion (2014)[2]
Total assets Increase US$529.5 billion (2014)[2]
Total equity Increase US$231.2 billion (2014)[2]
Employees 489,000 (2014)[2]
Divisions Samsung Electronics
Samsung C&T Corporation
Samsung Heavy Industries
Samsung SDS
Samsung Life Insurance
Samsung Fire & Marine Insurance
Cheil Worldwide

Samsung Group is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul.[3] It comprises numerous affiliated businesses,[3] 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 four business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol 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.

Notable Samsung industrial affiliates include Samsung Electronics (the world's 2nd largest information technology company measured by 2015 revenues, and 5th in market value),[4] Samsung Heavy Industries (the world's 2nd largest shipbuilder measured by 2010 revenues),[5] and Samsung Engineering and Samsung C&T (respectively the world's 13th and 36th largest construction companies).[6] Other notable subsidiaries include Samsung Life Insurance (the world's 14th largest life insurance company),[7] Samsung Everland (operator of Everland Resort, the oldest theme park in South Korea)[8] and Cheil Worldwide (the world's 15th largest advertising agency measured by 2012 revenues).[9][10]

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".[11][12] Its affiliate companies produce around a fifth of South Korea's total exports.[13] Samsung's revenue was equal to 17% of South Korea's $1,082 billion GDP.[14]

Samsung is a large worldwide company based in Seoul. It was founded in 1938 in South Korea by Lee Byoung Chul. Samsung means "three stars" in Korean.

Samsung has many different businesses. It makes mobile phones, cameras and other electronics. 'Samsung Electronics' who sell Samsung Galaxy products. Samsung is the best known South Korean brand in the world.

Samsung also is the sponsor of several sports teams, such as the Chelsea Football Club.

References[change | change source]

  1. "Home and Kitchen Appliance showcase - Samsung". 
  2. 2.0 2.1 2.2 2.3 2.4 "Samsung Financial Highlights". Samsung Group. Retrieved 13 May 2014. 
  3. 3.0 3.1 Cite error: Invalid <ref> tag; no text was provided for refs named samsung.co.kr.
  4. "Bangladesh and development: The path through the fields". The Economist. 3 November 2012. Retrieved 2 October 2013. Samsung now has around 80 companies and is the world’s largest information-technology firm. 
  5. 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. 
  6. "The Top 225 International Contractors 2013". Enr.construction.com. Retrieved 25 August 2013. 
  7. "Global 500 2009: Industry: - FORTUNE on CNNMoney.com". Money.cnn.com. 20 July 2009. Retrieved 4 September 2010. 
  8. Valhouli, Christina (21 March 2002). "The World's Best Amusement Parks". Forbes.com. Retrieved 11 September 2010. 
  9. "Cheil Worldwide Inc (030000:Korea SE)". businessweek.com. Archived from the original on 5 October 2012. Retrieved 16 September 2010. 
  10. "Cheil Worldwide (030000 KS)" (PDF). kdbdw.com. 26 April 2010. Retrieved 8 May 2013. 
  11. "Samsung and its attractions – Asia's new model company". The Economist. 1 October 2011. Retrieved 11 January 2012. 
  12. "South Korea's economy – What do you do when you reach the top?". The Economist. 12 November 2011. Retrieved 11 January 2012. 
  13. Hutson, Graham; Richards, Jonathan (17 April 2008). "Samsung chairman charged with tax evasion – Times Online". The Times. London. Retrieved 28 February 2011. 
  14. Shell, Glencore, and Other Multinationals Dominate Their Home Economies 4 April 2013 BusinessWeek