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Samsung
Founded in 1938 by Lee Byung-chul as a trading company, Samsung diversified into various sectors, including food processing, textiles, insurance, securities, and retail, over the next three decades. In the late 1960s, Samsung entered the electronics industry, followed by the construction and shipbuilding sectors in the mid-1970s—areas that would fuel its future growth. After Lee died in 1987, Samsung was divided into five business groups: Samsung Group, Shinsegae Group, CJ Group, Hansol Group, and JoongAng Group. Key affiliates of Samsung include Samsung Electronics, the world's largest information technology company, consumer electronics maker and chipmaker by 2017 revenues;[4][5] Samsung Heavy Industries, the world's second-largest shipbuilder by 2010 revenues;[6] and Samsung Engineering and Samsung C&T Corporation, ranked 13th and 36th among global construction companies, respectively.[7] Other significant subsidiaries are Samsung Life Insurance, the 14th-largest life insurance company globally,[8] Samsung Everland, operator of Everland Resort (South Korea's oldest theme park),[9] and Cheil Worldwide, the world's 15th-largest advertising agency by 2012 revenues.[10][11 In 1938, during the Japanese era, Lee Byung-chul (1910–1987), a member of a large landowning family in Ginei moved to nearby Taikyu and founded Mitsuboshi Trading Company (株式会社三星商会 (Kabushiki gaisha Mitsuboshi Shōkai)), or Samsung Sanghoe (주식회사 삼성상회). Samsung started out as a small trading company with forty employees located in Su-dong (now Ingyo-dong).[15] It dealt in dried fish,[15] locally-grown groceries and noodles.[16] The company prospered and Lee moved its head office to Seoul in 1947. When the Korean War broke out, he was forced to leave Seoul. He started a sugar refinery in Pusan named Cheil Jedang. In 1954, Lee founded Cheil Mojik, a textiles company, and built the first plant in Chimsan-dong, Taegu. It was the largest woollen mill in the country at the time of construction.[17] Samsung diversified into various areas as Lee aimed to establish the company as a leader across multiple industries. The business expanded into sectors such as insurance, securities, and retail. In 1947, Cho Hong-jai, the Hyosung group's founder, jointly invested in a new company called Samsung Mulsan Gongsa, or the Samsung Trading Corporation, with the Samsung's founder Lee Byung-chul. The trading firm grew to become the now Samsung C&T Corporation. After a few years, Cho and Lee separated due to differences in management style. Cho wanted a 30 equity share. Samsung Group was separated into Samsung Group and Hyosung Group, Hankook Tire and other businesses.
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