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Lee Byung-Chul founded Samsung in 1938 at Seoul, South Korea. Samsung group has subsidiaries such as Samsung Electronics, Samsung Heavy Industries, Samsung Engineering & Construction etc. Samsung is the largest company of electronic in South Korea and second largest company in the world. Samsung Group is leading business group in the world and manufactures its products under the brand name of Samsung. There are a large number of subsidiaries of Samsung Group in the field of electronics, machinery and heavy industries, chemical industries, financial services, retail services, entertainment, engineering and construction services.
Samsung Electronics is the largest company of electronics in the world. Samsung Heavy Industries is a leading company in Samsung Engineering and shipbuilding. Samsung construction is one of the largest construction companies in the world. All these three multinational companies are combined to form Samsung Group. Samsung is a Korean word having meaning “Tri-Star” or “Three stars”. Samsung is the most popular South Korean brand in the world. In 2005 Samsung surpass Sony, a Japanese rival in the field of consumer electronics.
Samsung is the largest electronics company of South Korea and is the largest exporter of consumer goods in the world. It is second largest company in electronics after General Electronics USA. Samsung is very attractive company in South Korea because 25% of its employees are PhD and it is run by the wealthiest families. Sungkyunkwan University, a private university is established by Samsung and a large number of its graduates are employed in Samsung Group. The employees of Samsung are very loyal to the company because they work for long hours without weekends and holidays. In past many companies of South Korea like Hansol Gropu, Shinsegae Group and CJ Corporation were a part of Samsung group. These companies are separated by the Govt. to reduce the power of Samsung group. The employees of Samsung owned a large number of companies and even a search engine is also developed by the employee of this group. Samsung forms 20% of the total export of the country and it is dominant in many industreis.
In 1938 the founder of Samsung started his small business under the name of 'Samsung Store' at Daegu. In 1950 he formed a trading company under the name of Samsung. In 1953 Samsung started sugar production and in 1958 it started insurance business. In 1964 a broad casting company was established by the Samsung. Samsung Electronics was founded in 1969 and ‘Samsung heavy industries’ was established in 1974. In 1977 Samsung shipbuilding and construction company was established and in 1983 Samsung manufactures first computer chip. After entering the field of electronics Samsung established many electronic divisions in different fields to dominate in the market of electronics. In 1960s and 1970s the Govt. also helped Samsung and many other companies to do good business in the market. In 1980s and 1990s the company invested more in electronics field and developed a lot in electronic products. Samsung produced a wide range of products in electronics in international market. In the later years Samsung has worked hard in the field of mobile technology and introduced many successful handsets.
Samsung Construction Company has constructed many buildings in the world. Burj-e-Dubai, tallest building of the world is being constructed by the Samsung corporation in United Arab Emirates. Samsung construction has built Taipei 101 in Taiwan and Petronas Towers in Malaysia. Samsung is the largest manufacturer of LCD displays in the world. In 1992 it became the largest producer of memory chips. Samsung and sony created a joint venture to manufacture LCDs. In 2004 and 2005 Samsung has gained record revenue and overtook Sony. Samsung is very popular for its wide range of quality products and earned a lot of profit from the market.
Headquartered in Ridgefield Park, NJ, Samsung Electronics America, Inc. (SEA), a wholly owned subsidiary of Samsung Electronics Co., Ltd., markets a broad range of award-winning, advanced digital consumer electronics and home appliance products, including HDTVs, home theater systems, MP3 players, refrigerators and laundry machines. A recognized innovation leader in consumer electronics design and technology, Samsung is the HDTV market leader in the U.S. and is the only manufacturer that produces all four major digital television technologies.
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