The company then dealt in locally-produced
Posted: Thu Jan 02, 2025 10:25 am
According to a 2022 report by Business Korea, Samsung is considered the fifth-highest company among the top 100 corporations worldwide. How did this company that has enthralled the world start? Samsung was founded as a trading firm on the 1st of March 1938 by Lee Byung Chul. Over the next thirty years, the company expanded its product and services from just being a trading company to other businesses like textiles, retail, food processing, securities, and insurance.
In the late 1960s, the Samsung Group entered the electronics market, partners mailing leads and in the mid-1970s, it delved into the construction and shipbuilding industries. These three industries accelerated the brand’s rapid growth. After Byung Chul’s death, Samsung separated into five business groups: Hansol Group, Shinsegae Group, JoongAng Group, Samsung Group, and CJ Group. At the time of Samsung’s establishment, Japan was ruling over Korea. Lee Byung Chul started Samsung as a trading company with 40 employees.
Groceries, dried fish, and noodles. Samsung grew rapidly and steadily, so in 1947, Byung Chul moved from his former office in Su Dong [now Ingyo Dong] to Seoul. When the war started in Korea, he left Seoul for Busan, where he established a sugar refinery business. This new firm was called Cheil Jedang. Byung Chul founded another firm in 1954, which he called Cheil Mojik.
In the late 1960s, the Samsung Group entered the electronics market, partners mailing leads and in the mid-1970s, it delved into the construction and shipbuilding industries. These three industries accelerated the brand’s rapid growth. After Byung Chul’s death, Samsung separated into five business groups: Hansol Group, Shinsegae Group, JoongAng Group, Samsung Group, and CJ Group. At the time of Samsung’s establishment, Japan was ruling over Korea. Lee Byung Chul started Samsung as a trading company with 40 employees.
Groceries, dried fish, and noodles. Samsung grew rapidly and steadily, so in 1947, Byung Chul moved from his former office in Su Dong [now Ingyo Dong] to Seoul. When the war started in Korea, he left Seoul for Busan, where he established a sugar refinery business. This new firm was called Cheil Jedang. Byung Chul founded another firm in 1954, which he called Cheil Mojik.