Samsung History Essay
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 …show more content…
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