The Samsung Group is a South Korean company with multiple companies. It is one of Korea’s major enterprises, accounting for roughly one-fifth of total exports, with a primary concentration on electronics, heavy industries, construction, and military. Insurance, advertising, and entertainment are some of Samsung’s other key divisions.
The Beginnings of Samsung
In 1938, Lee Byung-chul founded Samsung as a commercial firm in Taegu, South Korea, with only 30,000 won (about US$27). Samsung began as a grocery business with 40 workers, trading and exporting commodities produced in and around the city. It specialised in dried Korean fish and veggies, as well as its unique noodles.
In 1947, the firm prospered and extended to Seoul, but it was forced to leave when the Korean War started out. Following the war, Lee established a sugar refinery in Busan before moving into textiles and constructing Korea’s largest woollen mill at the time.
This early diversification proved to be a successful development strategy for Samsung, which went on to aggressively expand into the insurance, securities, and retail industries. Following the war, Samsung concentrated on Korea’s rehabilitation, particularly industrialisation.
From 1960 until 1980
Samsung joined the electronics business in the 1960s with the development of three electronics-focused divisions:
Devices from Samsung Electronics
Electro-Mechanics by Samsung
Corning (Samsung)
Samsung Semiconductor and Telecommunications Co., Ltd.
During this time, Samsung purchased DongBang Life Insurance and founded Joong-Ang Development (now known as Samsung Everland). In addition, a cooperation between Samsung and Sanyo was formed, opening the path for the development of TVs, microwaves, and other consumer items.
Samsung-Sanyo created its first black-and-white televisions in 1970 and expanded into shipbuilding, petrochemicals, and aviation engines. Samsung also developed transistor black and white TVs, colour TVs, refrigerators, electric desk calculators, and air conditioners during the next decade. The firm attained the milestone of producing 5 million televisions in 1978.
By 1974, Samsung Heavy Industries had grown to become one of the world’s major shipbuilders. Samsung Electronics America and the Suwon R&D Centre were created in the late 1970s.
From 1980 until 2000
With the purchase of Hanguk Jeonja Tongsin in 1980, Samsung joined the telecoms hardware market. Initially producing telephone switchboards, Samsung then moved into telephone and fax systems before transitioning to mobile phone production.
Samsung expanded into New York, Germany and Portugal within the early 1980s. Samsung Printing Solutions was established in 1982. This company’s subsidiary provided digital solutions to the printing sector. The next year, Samsung began making personal computers, and by 1984, the company’s sales had surpassed one trillion won.
Later in the decade, Samsung expanded to Tokyo and the United Kingdom, establishing itself as a semiconductor manufacturing leader with large 256K DRAM output.
Lee Byung-chul, the company’s founder, died in 1987, and his son, Lee Kun-hee, took over as CEO. Soon after, Samsung Semiconductor and Telecommunications combined with Samsung Electronics to become Samsung Electronics. The combined company concentrated on home appliances, telecommunications, and semiconductors.
The next decade saw much more progress and accomplishments. Soon after, Samsung established itself as a world leader in chip production, established Samsung Motors, and began manufacturing digital televisions. In addition, the corporation began to spend extensively in the design and production of components for other companies. It aimed to become the world’s largest maker of consumer electronics.
Samsung Ventures was established in 1999 with the goal of investing in start-up firms that provide several of Samsung’s key services.
From 2000 to the Present
In 2001, Samsung joined the phone market with the SPH-1300, an early touch-screen prototype. In 2005, the business also created the primary speech-recognition phone.
Samsung purchased firms that created technology for electronic devices in the late 2000s and early 2010s. Samsung debuted the Galaxy S II in 2011, and the Galaxy S III, one of the world’s most popular smartphones, in 2012. In addition, Samsung became the world’s largest mobile phone manufacturer in 2012, and the company acquired mSpot to deliver entertainment to Samsung device consumers.
In the years afterwards, the business has made further acquisitions, including companies that will help it grow its services in medical technology, smart TVs, OLED displays, home automation, printing solutions, cloud solutions, payment solutions, and artificial intelligence.
Samsung launched the Gear VR, a virtual reality gadget designed for use with the Galaxy Note 4, in September 2014. By 2015, Samsung has received more U.S. patent approvals than any other corporation, with over 7,500 utility patents awarded by the end of the year.
Samsung was granted official approval to test a self-driving car in 2017. Samsung said the next year that it will increase its renewable energy initiatives and hire 40,000 people over the next three years.

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