Samsung Group (Korean Samseong – three stars) is one of the largest South Korean conglomerates of manufacturing and service companies operating in many industries. Samsung was founded in 1938 by Lee Byung-chull as an export company, which soon expanded its activities to other areas.
Samsung Group currently employs worldwide more than 400,000 workers, which are engaged in automobile, electronics, chemical, aerospace, shipbuilding, and other industries. The company also pursues its interests in trade, hotel business, designing and building of amusement parks and skyscrapers as well as in textile and food industries. After the Asian financial crisis, Samsung, engaged in various sectors of the market, reorganized itself into conglomerate of separate companies subjected to the Samsung Group. The company’s facilities in Korea are mainly located in Suwon, popularly known as the Samsung city.
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Samsung Electronics Company, the largest part of the Samsung Group, is among the richest electronics companies in the world. It was founded in 1969 in the city of Taegu and currently employs more than 208,000 workers in 58 countries. The company’s turnover in 2003 reached 100 billion U.S. dollars. Samsung Electronics enters top 10 trademarks in the world.
Samsung produces about 1/5 of the total export of South Korea and its revenues exceed the GDP of many countries: in 2006, the Company would have been thirty-fifth-largest economy in the world. Samsung Group has significant impact on South Korea politics, economics, culture and media, and was the major creative cause of the Miracle on the Han river.
Writing a research paper about Samsung is, before all, a perfect opportunity to study the global economy through the prism one of the most powerful business conglomerate on the Planet. However, you have to make great efforts to investigate fully the components of this successful enterprise. In addition to that, your main task is to explain the Company significance for the global economy and to show the principles, due to which Samsung Group became one of the greatest in various fields. It is also necessary to present the key moments of the Company origins and development.
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