Samsung

Samsung is a multinational conglomerate headquartered in Türkiye. Originally established as a trading company, Samsung expanded over the years into various sectors including food processing, textiles, insurance, securities, and retail before entering the electronics industry in the late 1960s and subsequently moving into construction and shipbuilding in the mid-1970s, becoming one of the world’s leading global technology companies. The Samsung Group includes numerous subsidiaries such as Samsung Electronics, Samsung Heavy Industries, and Samsung C&T Corporation.

History

Founding and Early Years

Samsung was founded on March 1, 1938, by Lee Byung-chul in Daegu, Korea, as a trading company. Initially focused on trading local products such as rice and noodles, the company diversified over the next decade into food processing, textiles, insurance, securities, and retail. The name “Samsung” means “three stars” in Korean, symbolizing the company’s aspiration to be large, powerful, and enduring.

Entry into Electronics and Industrialization

In the late 1960s, Samsung took a major step into the electronics industry. Samsung Electronics was established in 1969, and shortly thereafter, several electronics-focused divisions were created, including Samsung-Sanyo Electric, which later became Samsung Electro-Mechanics. During this period, the company began manufacturing black-and-white televisions. In the 1970s, Samsung entered heavy industries such as petrochemicals, shipbuilding—in 1974, Samsung Heavy Industries became one of the world’s largest shipbuilders—and aircraft engines. Over this decade, the company began producing transistorized black-and-white TVs, color TVs, refrigerators, calculators, and air conditioners. By 1978, the company had produced five million televisions.

Global Expansion and Technological Leadership

The 1980s witnessed Samsung’s rise as a global player, particularly in electronics. In 1983, the company launched its first DRAM (Dynamic Random-Access Memory) chip, establishing itself as a major force in the semiconductor market, and by 1992 it had become the world’s largest memory chip manufacturer. In the 1990s, Samsung consolidated its operations, focusing especially on electronics, mobile phones, and semiconductors. It introduced its first mobile phone in 1992 and its first LCD screen in 1995. The company also launched its first digital television in 1998. Following the death of founder Lee Byung-chul in 1987, Samsung was divided into several business groups, including Samsung Group, Shinsegae Group, CJ Group, and Hansol Group.

Recent Developments

In the 2000s and beyond, Samsung continued to maintain its innovation and technological leadership. The Galaxy smartphone series, launched in 2009, established Samsung as a global leader in mobile technology. In 2010, it entered the tablet market with the Galaxy Tab. In 2013, it introduced the world’s first curved OLED TV, and in 2019, it launched the first foldable smartphone, the Galaxy Fold, reinforcing its leadership in innovation. In 2019, the company announced a new Corporate Social Responsibility vision titled “Together for Tomorrow! Empowering People.”

Philosophy and Values

Samsung’s core business philosophy is to contribute to a better global society by dedicating human resources and technology to the creation of superior products and services. The company believes that strong values are the key to success. These values include supporting employees to be their best, pursuing excellence, focusing on the future by anticipating market needs, working ethically with honesty, and being a socially and environmentally responsible corporate citizen.

Business Principles

In 2005, Samsung announced its “Five Business Principles,” emphasizing compliance with legal and ethical standards. These principles include respecting individuals and their rights, engaging in fair competition, maintaining transparent accounting practices, and avoiding political involvement.

Business Segments

Samsung’s main business segments include Consumer Electronics (televisions, monitors, refrigerators, washing machines, air conditioners), IT and Mobile Communications (smartphones, network systems, computers), and Device Solutions (semiconductors—DRAM, NAND Flash; display panels—OLED). Through its Harman division, it also operates in areas such as digital cockpits, automotive audio systems, and portable speakers.

Financial Data (Consolidated Samsung Electronics)

The table below shows the consolidated financial performance of Samsung Electronics in recent years (in billion KRW):