Samsung Electronics: Success by Design Essay

6840 Words Dec 12th, 2011 28 Pages
IBS Center for Management Research
Samsung Electronics: Success by Design
This case was written by Sachin Govind, under the direction of S.S.George, IBS Center for Management Research. It was compiled from published sources, and is intended to be used as a basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation.
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Samsung Electronics: Success by Design
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Byung later established flour mills under the
Samsung name (Korean for three stars). He also produced confectionery machines in this period
(Refer Exhibit I for the companies under the Samsung Group as of 2006).
In 1951, Samsung Moolsan, a holding company, was established, which later became Samsung
Corp. In 1953, Cheil Sugar Manufacturing Co. was set up, which later became an independent company. In 1958, Samsung acquired Ankuk Fire and Marine Insurance (later renamed Samsung
Fire and Marine Insurance) and DongBang Life Insurance in 1963 (later renamed Samsung Life
Insurance). In 1966, the Group founded Joong-Ang Development, an entertainment (theme parks) and services company, which was later renamed Samsung Everland.
In 1969, Samsung Electronics Manufacturing Co. (SEMC) was incorporated. In the 1970s, the
Samsung Group forayed into the shipbuilding, chemical, and petrochemical industries. In 1974, the
Group8 acquired a 50% stake in Korea Semiconductor Co., a joint venture between Korea
Engineering & Manufacturing Co. and Integrated Circuit International. SEMC started exporting its products in the 1970s. In 1978, the Group‟s electronics exports crossed the 100 billion won mark.
In February 1984, SEMC was renamed as Samsung Electronics. In the mid-1980s, the Samsung
Group began to concentrate on R&D

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