The history of Samsung

SAMSUNG: It will be nearly impossible to picture a time when this tech giant wasn’t a major part of the modern world owing to her quick ascension to the top of the android market. The chronicles of the Samsung group began on March 1, 1938 as a trading company with the South Korean Lee Byung-chul as her founder. Samsung was not always a tech enterprise, the group variegated into various sectors such as processing of food, textiles, insurance, security and retail businesses for about thirty years.

Samsung surfaced in the electronics sector as well as the construction and shipbuilding industries in late 1960’s and mid-1970s respectively. Subsequent to Lee Byung-chul’s death in 1987, Samsung was sectioned into four commercial enterprises. Ankuk Fire and Marine insurance was acquired in 1958 and in 1963, the first Shisegae subdivision stock, South Korean subdivision stock franchise emerged in Seoul and the procurement of Dong Bang Life Insurance. Tongyang Broadcasting Company was set up by Samsung in 1964 and presently united with KBS.

Joong-Ang, a daily times newspaper was launched by Samsung in 1965. The development now Samsung Everland was brought into existence in 1966. The establishment of the Samsung Electronics took place in 1969. Samsung Heavy Industries and Samsung Petrochemical were founded in 1974 and the manufacture of refrigerators and washing machines as well.

1976 was yet another remarkable year for the Samsung Company as they were rewarded for their success by getting an export prize. The Samsung Precision Company now called Samsung Techwin came into existence in 1977 and began exportation of color televisions. Samsung Fine Chemicals and Samsung Shipbuilding industries were also established in 1977. The world market welcomed the arrival of Samsung Group in 1980s. Three years later, Samsung initiated the manufacture of Personal computers and its first computer chip; a 64k DRAM chip was manufactured as well.

Samsung SDS was founded in 1984 and in 1987, Samsung Advanced Institute of Technology was established for the purpose of research and development. Samsung Electronics united with Samsung Semiconductor & telecommunications Co. in 1988. This unity led to Home appliances, semiconductors and telecommunications being selected as the main business lines.

The establishment of Samsung BP Chemicals was in 1989 and subsequently, Samsung Group, a one-time grocery store and an exporter of dried Korean fish, fruits and vegetables, to Beijing and Manchria progressed and became one of the world’s leading electronics organizations. The influence of Samsung Group in South-Korea is of great significance as it bequeaths more than twenty percent to the exports of South-Korea and takes the front in many civilized industrial areas that it is referred to as “Republic of Samsung”.

Samsung’s journey into the global market wasn’t really a smooth one, they encountered barricades but their never relenting efforts and drive towards becoming number one in the world paid off as they emerged first in the world market share for thirteen out of their products including mobile phones and monitors. The unification of the three multinational commercial enterprise of Samsung Heavy Industries, Samsung Electronics and Samsung Engineering & Constructions presents the actual definition of Samsung, which means ‘three stars’ in Korean. Samsung is renowned to be the most popular universal consumer electronic marque since 2005.

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