This section of the site will contain information on the latest technical innovations from Samsung (links at the bottom of the page), but let's first go back 80 years old and see how this Asian company has achieved such heights.
Samsung Success Story
Today we know Samsung as a giant corporation with a worldwide reputation, but its history began in the distant 1930s, when entrepreneur Lee Byung-chul engaged in the production of rice flour and opened a village shop.
Korea was a colony of Japan at that time, it was very difficult to open a private enterprise, but despite this, in 1938, an entrepreneur founded a trading company that included forty people in the state. In addition, Lee Byung-chul established the first independent channel for the export of different from Korea to China and Manchuria.
Thanks to the active development of food supply, Lee Byung-chul has the opportunity to develop his company without a bank loan. He was able to officially register the Samsung Trading Company trademark. Translated from Korean, Samsung means three stars. They were depicted on the first logo of the company.
By the end of the 1950s, Lee Byung-chul became one of the richest and most famous businessmen in the country. Unfortunately, Samsung’s fast take-off ended in a fall: a military coup occurred in Korea. Lee Byung-chul was sent to prison and was accused of bribery and connections with the deposed President.
Samsung's revival after the Korean War and company reform
Undoubtedly, Lee Byung-chul was a very persistent, not used to give up man, and his perseverance yielded results.
The new President of South Korea, General Park Jung Hee, launched economic and industrial reforms. Thanks to close relations with the United States, South Korea took foreign loans, acquired modern technologies and raw materials, and again brought the profit into further development.
Thus, 30 new flagship companies were created or re-established. Among them were such giants as:
- Goldstar (LG),
- Samsung, whose head was again Lee Byung-chul, who returned from prison.
As conceived by the reformers and American lending, each of the major companies was to be responsible for a specific sector of the economy. Samsung got electronics.
In 1970, Samsung Electronics Corporation was established, becoming the industry leader in record time. In 1972, the corporation released the first black and white TVs.
In 1977, Samsung Electronics export was more than $100 million. In the same year, the company introduced its first color TV. 1978 was marked by the opening of the first Samsung office in the United States.
Company development in the recent past
Until the 1980s, the shares of the majority of the Samsung companies were circulated only in South Korea, and were not in high demand from investors. Over the next few years, a number of marketing changes were introduced, and the company's mission was completely redesigned.
In 1983, Samsung Electronics introduced its first personal computer, the SPC-1000.
1986 was a happy year for the company. Samsung Electronics has received the title of "Best Company of the Year" from the Korean Management Association.
In 1987, the company was headed by the youngest son of Lee Byung-chul. He proposed a whole range of reforms, involving a complete restructuring of the company, as well as a change in the management framework: the company had to fully comply with the terms of the free trade law.
Since 1993, the company has changed the emblem, the development of which could not do without eastern philosophy. According to company representatives, the elliptical shape of the logo symbolizes movement in the global space, expressing the idea of updating and improvement.
Thanks to the thoughtful design and large-scale advertising campaign, the Samsung logo has become one of the most recognizable in the world.