Quite simply, a company is its people. At Samsung, we''re dedicated to giving our people a wealth of opportunities to reach their full potential.
Everything we do at Samsung is driven by an unyielding passion for excellence and an unfaltering commitment to develop the best products and services on the market
As we have done since our foundation, we set our sights on the future, anticipating market needs and demands so we can steer our company toward long-term success.
Operating in an ethical way is the foundation of our business. Everything we do is guided by a moral compass that ensures fairness, respect for all stakeholders and complete transparency.
Samsung is committed to becoming a socially and environmentally responsible corporate citizen in all of its communities worldwide.
ㆍVice Chairman & CEO [2022~Present]ㆍVice Chairman & Head, Device eXperience [2021~Present]ㆍPresident & Head, Visual Display Business [2017~2021]ㆍHead, R&D Team, Visual Display Business [2015~2017]ㆍHead, R&D Office, Visual Display Business [2013~2015]ㆍHead, Product R&D Team, Visual Display Business [2011~2013]
Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities, and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee''s death in 1987, Samsung was separated into five business groups – Samsung Group, Shinsegae Group, CJ Group, Hansol Group, and JoongAng Group.
According to Samsung''s founder, the meaning of the Korean hanja Samsung () is three stars. The three stands for something big, numerous and powerful,[13] while stars stands for everlasting or eternal.[14][15]
Samsung diversified into many different areas. Lee sought to establish Samsung as a leader in a wide range of industries. Samsung moved into lines of business such as insurance, securities, and retail.
In 1947, Cho Hong-jai, the Hyosung group''s founder, jointly invested in a new company called Samsung Mulsan Gongsa, or the Samsung Trading Corporation, with the Samsung''s founder Lee Byung-chul. The trading firm grew to become the now Samsung C&T Corporation. After a few years, Cho and Lee separated due to differences in management style. Cho wanted a 30 equity share. Samsung Group was separated into Samsung Group and Hyosung Group, Hankook Tire and other businesses.[19][20]
In 1980, Samsung acquired the Gumi-based Hanguk Jeonja Tongsin and entered telecommunications hardware. Its early products were switchboards. The facility was developed into the telephone and fax manufacturing systems and became the center of Samsung''s mobile phone manufacturing. They have produced over 800 million mobile phones to date.[25] The company grouped them together under Samsung Electronics in the 1980s.
In 1987, United States International Trade Commission found that the Samsung Group of South Korea unlawfully sold computer chips in the United States without licenses from the chip inventor, Texas Instruments Inc.[30]
In 2000, Samsung R&D opened a development center in Warsaw, Poland.[36] Its work began with set-top-box technology before moving into digital TV and smartphones. The smartphone platform was developed with partners, officially launched with the original Samsung Solstice[37] line of devices and other derivatives in 2008, which was later developed into Samsung Galaxy line of devices including Notes, Edge and other products.
In 2010, Samsung[who?] announced a ten-year growth strategy centered around five businesses.[39] One of these businesses was to be focused on biopharmaceuticals, to which has committed ₩2.1 trillion.[40] In first quarter of 2012, Samsung Electronics became the world''s largest mobile phone maker by unit sales, overtaking Nokia, which had been the market leader since 1998.[41][42]
As of 2013,[update] the Fair Trade Commission of Taiwan is investigating Samsung and its local Taiwanese advertising agency for false advertising. The case was commenced after the commission received complaints stating that the agency hired students to attack competitors of Samsung Electronics in online forums.[49] Samsung Taiwan made an announcement on its Facebook page in which it stated that it had not interfered with any evaluation report and had stopped online marketing campaigns that constituted posting or responding to content in online forums.[50]
In 2015, Samsung has been granted more U.S. patents than any other company. The company received 7,679 utility patents through 11 December.[51]
In 2018, they inaugurated the world''s largest mobile manufacturing facility in Noida, India, in the presence of Indian Prime Minister Narendra Modi and South Korean President Moon Jae-in.[56][57]
In 2023, Samsung announced its decision to reduce the production of memory chips. This action is on account of the company''s projected 96% decline in quarterly operating profit - a 600 million won decline from the 14 trillion won in 2022. The said drop can be attributed to the weak demand after COVID and a slowing global economy. Despite this decision, the company''s shares increased by more than 4%.[58] Samsung has been the top two applicant for PCT filled patents in 2022 and 2023 worldwide.[59]
Samsung has a powerful influence on South Korea''s economic development, politics, media and culture and has been a major driving force behind the "Miracle on the Han River".[60][61] Its affiliate companies produce around a fifth of South Korea''s total exports.[62] Samsung''s revenue was equal to 22.4% of South Korea''s $1.67 trillion GDP in 2022.[63]
"You can even say the Samsung chairman is more powerful than the President of South Korea. [South] Korean people have come to think of Samsung as invincible and above the law", said Woo Suk-hoon, host of a popular economics podcast in a Washington Post article headlined "In South Korea, the Republic of Samsung", published on 9 December 2012. Critics claimed that Samsung knocked out smaller businesses, limiting choices for South Korean consumers and sometimes colluded with fellow giants to fix prices while bullying those who investigate. Lee Jung-hee, a South Korean presidential candidate, said in a debate, "Samsung has the government in its hands. Samsung manages the legal world, the press, the academics and bureaucracy".[64]
Samsung comprises around 80 companies.[65] Its activities include construction, consumer electronics, financial services, shipbuilding, and medical services,[65] and two research and development stations that have allowed the chaebol to enter the industries of "high-polymer chemicals, genetic engineering tools [and biotech as a whole], aerospace, and nanotechnology."[66]
As of April 2011,[update] the Samsung Group comprised 59 unlisted companies and 19 listed companies, all of which had their primary listing on the Korea Exchange.[67]
In FY 2009, Samsung reported consolidated revenues of 220 trillion KRW ($172.5 billion). In FY 2010, Samsung reported consolidated revenues of 280 trillion KRW ($258 billion), and profits of 30 trillion KRW ($27.6 billion) based upon a KRW-USD exchange rate of 1,084.5 KRW per USD, the spot rate as of 19 August 2011.[update][68] These amounts do not include the revenues from Samsung''s subsidiaries based outside South Korea.[69]
Steco is a joint venture established between Samsung Electronics and Japan''s Toray Industries in 1995.[74] Toshiba Samsung Storage Technology Corporation (TSST) is a joint venture between Samsung Electronics and Toshiba of Japan which specialises in optical disc drive manufacturing. TSST was formed in 2004, and Toshiba owns 51 per cent of its stock, while Samsung owns the remaining 49 per cent. Samsung Electronics is listed on the Korea Exchange stock market (number 005930).
Samsung Engineering is a multinational construction company headquartered in Seoul, founded in January 1969. Its principal activity is the construction of oil refining plants; upstream oil and gas facilities; petrochemical plants and gas plants; steel making plants; power plants; water treatment facilities; and other infrastructure.[79] It achieved total revenues of 9,298.2 billion won (US$8.06 billion) in 2011.[80] Samsung Engineering is listed on the Korea Exchange stock market (number 02803450).
Samsung Heavy Industries is a shipbuilding and engineering company headquartered in Seoul, founded in August 1974. Its principal products are bulk carriers, container vessels, crude oil tankers, cruisers, passenger ferries, material handling equipment steel and bridge structures.[84] It achieved total revenues of 13,358.6 billion won in 2011 and is the world''s second-largest shipbuilder by revenues (after Hyundai Heavy Industries).[85][86] It is listed on the Korea Exchange stock market (number 010140).
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