Samsung History
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Samsung Group Timeline and History
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. Lees 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.
Dec
SAMSUNG-Sanyo Electronics established (Renamed SAMSUNG Electro-Mechanics in March 1975 and merged with SAMSUNG Electronics in March 1977)
Jan
SAMSUNG Electronics Manufacturing incorporated (Renamed SAMSUNG Electronics in February 1984)
Nov
Koryo General Hospital opened (Renamed Kangbuk SAMSUNG Hospital in 1995)
May
Joong-Ang Development established (Known today as SAMSUNG Everland)
Oct
Saehan Paper Manufacturing acquired (Renamed Chonju Paper Manufacturing in August 1968 and no longer affiliated with SAMSUNG)
Sep
SAMSUNG launched Joong-Ang Ilbo newspaper (No longer affiliated with SAMSUNG)
Apr
SAMSUNG Foundation of Culture established
Jul
DongBang Life Insurance acquired (Renamed SAMSUNG Life Insurance in July 1989
DongHwa Department Store acquired (Known today as Shinsegae Department Store and no longer affiliated with SAMSUNG)
Feb
Ankuk Fire & Marine Insurance acquired (Renamed SAMSUNG Fire & Marine Insurance in October1993)
Sep
Cheil Industries Inc. founded
Aug
Cheil Sugar Manufacturing Co. founded (Now an independent company and no longer affiliated with SAMSUNG)
Jan
SAMSUNG Moolsan established (Known today as SAMSUNG Corporation)
Mar
SAMSUNG founded in Taegu, Korea
SAMSUNGs industrial era (1970 ~1979)
Throughout the 1970s, SAMSUNG laid the strategic foundations for its future growth by investing in the heavy, chemical, and petrochemical industries. The companys second “Five-Year Management Plan,” announced in August 1973, targeted these industries and also introduced SAMSUNG to the shipbuilding industry. During this time, the company also took steps to enhance its competitive position in the worlds textile industry, integrating its manufacturing processes from raw materials to end products. As a result, many new companies were created including SAMSUNG Heavy Industries Company in 1974, and SAMSUNG Shipbuilding Company (created when SAMSUNG acquired Daesung Heavy Industry Company) and SAMSUNG Precision Company (now SAMSUNG Techwin) in 1977.
Another burst of growth for SAMSUNG came from the burgeoning home electronics business. SAMSUNG Electronics, already a major manufacturer in the domestic (Korean) market, began to export its products for the first time during this period. Another significant development was SAMSUNGs 1974 acquisition of a 50 percent stake in Korea Semiconductor, further consolidating SAMSUNG Electronics reign as a leader in semiconductor manufacturing.
Dec
SAMSUNG Electronics achieves US$100 billion in exports
Aug
SAMSUNG Precision Co. established (Renamed SAMSUNG Techwin in 1987)
Apr
SAMSUNG Electronics starts to export color televisions
SAMSUNG Ship Building created (Merged with SAMSUNG Heavy Industries in January 1983)
SAMSUNG Fine Chemicals established
Feb
SAMSUNG Construction established (Merged with SAMSUNG Corporation in December 1995)
Nov
SAMSUNG Corporation awarded the US$300 billion Export Prize
Aug
SAMSUNG Heavy Industries incorporated
Jul
SAMSUNG Petrochemical established
Dec
SAMSUNG Corning established
Aug
SAMSUNG Sanyo Parts founded (Renamed SAMSUNG Electronics Parts in May 1977, then SAMSUNG Electro-Mechanics in February 1987)
May
Emparial opens (Known today as The Shilla Hotels and Resorts)
Jan
Cheil Communications founded
Entering the global technology marketplace (1980 ~ 1989)
The late 70s and early 80s represented a time of increasing diversification and global growth for SAMSUNGs core technology businesses.
In 1978, SAMSUNG Semiconductor and SAMSUNG Electronics became separate entities as new products were introduced to the global market. SAMSUNG only produced semiconductors for the domestic market until the successful