Samsung is a South-Korean multinational company. The headquarter of Samsung is in Samsung Town, Seoul. Samsung also has various affiliated businesses; most of these businesses united under the Samsung brand, Samsung is also the largest South Korean business conglomerate. Samsung was established by Lee Byung-Chul in 1938 as a trading company. However, in the next three decades, Samsung involved in areas including food processing, securities, textiles, insurance, and retail.
In the late 1960s, Samsung entered the electronics industry, and they also began the construction and shipbuilding industries in the mid-1970s; these profitable areas would let its subsequent growth. After Lee’s death in 1987, Samsung was divided into four business groups – Samsung Group, CJ Group, Shinsegae Group, and Hansol Group. From 1990, Samsung has tremendously globalized its electronics activities. Notably, Samsung’s mobile phones and semiconductors have become it’s one of the most important sources of income and revenue. In 2017, Samsung had the 6th highest global brand value.
The most essential Samsung industrial incorporates include Samsung Electronics, Samsung Heavy Industries, and Samsung Engineering and Samsung C&T. Also, Samsung’s other subsidiaries include Samsung Life Insurance, Samsung Everland, and Cheil Worldwide. Samsung has a strong effect on South Korea’s economic development, media, politics, and culture and also has been a fundamental driving force behind the “Miracle on the Han River” Its merger companies supply around a 5th of South Korea’s total exports. Samsung’s revenue was the same as 17% of South Korea’s entire $1,082 billion GDP.
Samsung has cooperation with around 80 companies. Samsung has highly enlarged operations with areas including construction, shipbuilding, consumer electronics, financial services, and medical services.
In 2009, Samsung announced combined revenues of US$172.5 billion. In 2010, Samsung announced combined revenues of US$258 billion and the total profits of US$27.6 billion.
However, these amounts do not add the taxes from all of Samsung‘s subsidiaries based outside of South Korea.
Samsung’s Affiliates Businesses
- Samsung Electronics
- Samsung Engineering
- Samsung Everland
- Samsung Fine Chemicals
- Samsung Fire & Marine Insurance
- Samsung Heavy Industries
- Samsung Life Insurance
- Samsung Machine Tools
- Samsung Medical Center
- Samsung SDI
- Samsung Securities
- Shilla Hotels and Resorts
- S-1 Corporation
Joint Ventures of Samsung
State-run Korea Agro-Fisheries Trade Corp. established the enterprise which was aT Grain Co., in Chicago, with three other South Korean companies. Korea Agro-Fisheries owns 55 percent of aT Grain, and Samsung C&T Corp, Hanjin Transportation Co., and STX Corporation, each company holds 15 percent.
- Brooks Automation Asia Co., Ltd. is a joint venture here, Brooks Automation (70%) and Samsung (30%)
- Company POSS – SLPC s.r.o. was established in 2007 as a subsidiary of Samsung C & T Corporation.
- Samsung Air China Life Insurance company is a 50/50 joint venture between Samsung Life Insurance and China National Aviation Holding.
- Samsung Electronics Co. and Samsung Everland Inc. separately own a 40 percent share in the venture with Samsung C&T Corp. and Durham.
- Samsung Biopics is a joint venture of Samsung Biologics (85%) and the U.S.-based Biogen Idec (15%).
- Samsung BP Chemicals is a 49/51 joint venture of Samsung and the UK-based BP.
- Samsung Corning Precision Glass is a joint venture of Samsung and Corning; this was established in 1973.
- Samsung Sumitomo LED Materials is a joint venture between Samsung LED Co. Ltd.
- SB LiMotive is a 50/50 joint venture of Robert Bosch GmbH and Samsung SDI.
- SD Flex Co., Ltd. was established in October 2004 as a joint venture corporation by Samsung and DuPont; this is one of the world’s largest chemical companies.
- Sematech Korea is a 51/49 joint venture between Samsung. The U.S. firm Sermatech International specializes in aircraft construction processes like specialized welding and brazing.
- Stemco is a joint venture between Samsung Electro-Mechanics and Toray Industries in 1995.
- Toshiba Samsung Storage Technology Corporation (TSST) is a joint venture established between Samsung Electronics and Toshiba. Here Toshiba owns 51% of its stock, and Samsung owns the remaining 49%.