Samsung Group, stylized as SɅMSUNG is a South Korean multinational conglomerate company headquartered in Samsung
Town, Seoul.
It comprises numerous subsidiaries and affiliated businesses, 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 the 1990s Samsung has increasingly globalized its
activities, and electronics, particularly mobile phones and semiconductors,
have become its most important source of income.
Notable Samsung industrial subsidiaries
include Samsung Electronics (the world's largest information
technology company measured by 2012 revenues, and 4th in market value), Samsung Heavy Industries (the world's
2nd-largest shipbuilder measured by 2010 revenues),and Samsung Engineering and Samsung
C&T (respectively the world's 13th and 36th-largest construction
companies). Other notable subsidiaries include Samsung Life Insurance (the world's
14th-largest life insurance company), Samsung
Everland (operator of Everland Resort, the oldest theme park
in South Korea), Samsung Techwin (an aerospace, surveillance and
defense company) and Cheil Worldwide (the world's 15th-largest
advertising agency measured by 2012 revenues).
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". Its
affiliate companies produce around a fifth of South Korea's total exports. Samsung's revenue was equal to 17% of South Korea's $1,082 billion GDP.
In 2013, Samsung began construction on
building the world's largest mobile phone factory in the Thai Nguyen province
of Vietnam.
Source: Wiki
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