History of Samsung

Samsung's history began in 1938 in which Lee Byung-Chull (1910-1987) came from a family of land owners in the area Uiryeong come to Daegu city and founded Samsung Sanghoe, a small trading company with forty employees located in Su-dong ( now Ingyo-dong). Company in the wake of Lee is progressing and he moved its head office to Seoul in 1947. When the Korean War broke out, Lee was forced to leave Seoul and started sugar refinery in Busan as a name of Cheil Jedang. After the war, in 1954, Lee founded Cheil Mojik and build factories in Chimsan-dong, Daegu as a woolen mill.

Lee sought to establish Samsung as an industry leader in many fields, such as insurance, securities, and retail. In the late 1960s, Samsung Group began to develop into industrial electronics and electronic form divisions, such as Samsung Electronics Devices Co., Samsung Electro-Mechanics Co., Samsung Corning Co., and Samsung Semiconductor & Telecommunications Co., and made the facility in Suwon. The first product was a black-and-white television set. In 1980, Samsung bought Hanguk Jeonja Company Tongsin in Gumi, and started to build telecommunication devices. Its early products were Switchboards. This facility has been developed into the telephone and fax manufacturing systems and became the center of Samsung's mobile phone manufacturing. They have produced more than 800 million mobile phone. Their companies grouped together under Samsung Electronics Co., Ltd. in the 1980s.

In the late 1980s and early 1990s, Samsung Electronics invested heavily in research and development, investments are important in driving the company to the forefront of the global electronics industry. In 1982, Samsung built a television assembly plant in Portugal, in 1984, samsung build a factory in New York, in 1985, samsung build a factory in Tokyo, in 1987, samsung build a facility in the UK, and other facilities in Austin in 1996. In total, Samsung has invested $ 5.6 billion in the Austin - by far the largest foreign investment in Texas and one of the largest single foreign investment in the United States. Samsung new investment in Austin is a total of more than $ 9 billion.

Samsung started to rise as an international corporation in the 1990s. Samsung's construction branch was awarded a contract to build one of the two Petronas Towers in Malaysia, Taipei 101 in Taiwan and the Burj Khalifa in the United Arab Emirates. In 1993., Lee Kun-hee sold ten Samsung Group's subsidiaries, downsized the company, and others joined operations to concentrate on three industries are electronics, engineering, and chemicals. In 1996, Samsung Group to buy back Sungkyunkwan University foundation.

Compared to other Korean big companies, Samsung survived the 1997 Asian financial crisis relatively big impact. However, Samsung Motor was sold to Renault have suffered significant losses. In 2010, the stock Renault Samsung is 80.1 percent owned by Renault and 19.9 percent owned by Samsung. In addition, Samsung manufactures a variety of aircraft from the 1980s-1990s. The company was founded in 1999 as Korea Aerospace Industries (KAI), the result of merger between then three domestic major aerospace division of Samsung Aerospace, Daewoo Heavy Industries, and Hyundai Space and Aircraft Company.

Samsung became the largest producer of memory chips in the world in 1992, and the world's second-largest chipmaker after Intel. Ten years later, Samsung grew to be the largest producer in the world to make liquid-crystal display panels. In 2006, S-LCD was established as a joint venture between Samsung and Sony in order to provide a stable supply of LCD panels for them and operate the factories and build facilities in Tangjung, South Korea.

Samsung's success as a provider of technology continues to evolve through the eighties such as Samsung Electronics has joined with Samsung Semiconductor and Telecommunications. This paved the way towards a strong hold on the international market with high-tech products that will become a staple in every home. This development continues as the next decade as Samsung continues to transcend borders and restructuring business plans to accommodate the global scene. Adopt new forms of management proved to be a wise move for the company as their product goes on the top list of must-haves in their various fields. TV-LCD, picture tube, Samsung printers and other high-tech products acquisitions became known for their high quality. When Samsung ventured into the LCD industry in 1993, became the best in the world. Excellent method of quality control of the company that made her successful in providing only the best products to the whole world. It applies a "Stop Line" system where every person can stop the production process in the event that the product found to be substandard.