Samsung started in 1938 as a small trading company located in Su-dong near Daegu city.It was founded by Lee Byung-chul. He had only forty employees and the company’s major business was production and distribution of groceries within the city.
In 1947, as the company began to grow Lee put up their office in Seoul. He soon started a sugar refinery which also succeeded in a very short span of time. Lee was a very ambitious person and in 1954 built the largest woollen mill in Korea located in the suburbs of Daegu city.
Soon he had ventured into various other sectors like insurance, retail and securities. He was a firm believer in industrialization and wanted that Samsung Group to become the industry leader in almost all the sectors. In the 1960’s the Samsung Group entered the electronics industry confidently.
It was relying on the huge capital that it had at disposal for making new innovative products. Very soon Samsung was able to release its first product which was a black and white television set. By now it has more than 6 divisions each focussing on individual products like the semiconductor, telecommunications, hardware, etc.
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Soon it acquired telecommunications giant Hanguk Jeonja Tongsin in 1980. They started producing telephone, fax machines, switchboards with great success and created the base for their large-scale productions in the years to come. In the 1980’s all these production units came under one company named Samsung Electronics Co., Ltd.
With their founder's death they did not lose his philosophy of large-scale expansion and development. They invested millions of dollars in research for better technology for their electronics products. They started building manufacturing plants in places like New York, Texas, London, Portugal etc.
Samsung also focussed on its construction company and was able to grab big projects like building the Burj Khalifa, the world’s tallest building and also the Petronas Towers in Malaysia. In the 1990’s they refocused themselves and put electronics, constructions and chemicals on the top of their priority list.
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