Samsung History Essay

5099 Words 21 Pages
Samsung Group Timeline and History

Samsung’s beginnings (1938 ~ 1969)

On March 1, 1938, founding chairman Byung-Chull Lee started a business in Taegu, Korea with 30,000 won. At first, Mr. Lee's little business was primarily in trade export, selling dried Korean fish, vegetables, and fruit to Manchuria and Beijing. But in just over a decade, SAMSUNG - meaning literally "three stars" in Korean - would have its own flour mills and confectionery machines, its own manufacturing and sales operations, and ultimately become the roots of the modern global corporation that still bears the same name today.

1969 Dec SAMSUNG-Sanyo Electronics established (Renamed SAMSUNG Electro-Mechanics in March 1975 and merged with SAMSUNG Electronics
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In 1978, SAMSUNG Semiconductor and SAMSUNG Electronics became separate entities as new products were introduced to the global market. SAMSUNG only produced semiconductors for the domestic market until the successful development of a 64K DRAM (Dynamic Random Access Memory) VLSI chip in December 1983, when it became a world leader in semiconductor products.

SAMSUNG Precision Company (established in 1977) laid the foundation in another high-tech industry - aerospace. Renamed SAMSUNG Aerospace Industries in February 1987 (now known as SAMSUNG Techwin), SAMSUNG has been developing its aerospace capabilities with unprecedented speed ever since. Future plans include the development of future space stations - and even space facilities for the Moon and Mars in the early 21st century.

The mid-80s also saw SAMSUNG entering the systems development business, establishing SAMSUNG Data Systems in 1985 (now known as SAMSUNG SDS) as a leader in Information Technology services including systems integration, systems management, consulting, and networking services.

SAMSUNG's increasing focus on technology led to another key development in the mid-80s with the creation of the company's two Research & Development institutes, SAMSUNG Economic Research Institute

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