History Of Samsung Corporation
“The Republic of Korea is a highly developed stable, democratic republic located at the southern end of the Korean peninsula in northeast Asia, and includes some 3,000 nearby islands (Consular Information Sheet). With a vast history and customs, many outsiders must remember that the Chinese culture has dominated the society for more than 1,000 years. This culture has dominated their everyday lives through political, legal, and social systems in addition to literature, religion, and ethics (Chang 9). Generally, Koreans are very prideful of their country and its history. Therefore, it is important not to confuse the history of Korea with other Asian countries, especially Japan (Conversation 1). “South Korea is a Confucian society based on respect for elders and the sub service of females” (South Korea 3). In terms of the economics of the Republic of Korea, over the past couple of years the South Korean economy has transformed from a small, stagnate agricultural subsistence economy into one of the leading newly industrialized economies” (Cherry 7). This is due largely because of the origins of the country’s entrepreneurial elite in the political party in the 1950’s. “The South Korean economy is do
“One of the largest chaebol’s in South Korea is Samsung Group. Samsung consists of approximately thirty-five companies, the number one being Samsung Electronics, the worlds number one maker of dynamic random access memory chips and a leading consumer appliance manufacturer. Samsung Group also includes financial firms such as a credit card company Samsung Card and an insurance firm Samsung Life Insurance as well as Samsung Corporation” (Hoover 517). “Samsung Corporation has more than 80 branch offices worldwide and trades in a range of businesses, including oil and gas, semiconductors, heavy machinery, steel, chemicals, and textiles. Its construction division, which helped build the Petronas Twin Towers in Malaysia, the world’s tallest buildings, handles civil projects, plant construction, and architectural design. They also have a housing department, which builds condominiums and apartments (Hoovers Online). Samsung Group participates in a variety of fields through the service industry as well as offers a diverse mixture of products to consumers as well as to businesses through selected group companies, with some bearing the Samsung name. In the electronics field some of the affiliated companies include Samsung Corning Company, Ltd., which is responsible for making television picture –tube glass and Samsung Display Devices Company, Ltd., which produces computer displays. Samsung also operates in the financial and insurance industry under the names Samsung Card Company, Ltd., which handles loans, cash advances and financing, as well as Samsung Fire and Marine Insurance Company, Ltd. In the machinery industry Samsung has group companies, Samsung Aerospace Industries, Ltd., and Samsung Heavy Industries. Samsung is also involved in the chemical industry under the names Samsung Fine Chemicals Company, Ltd., and Samsung Petrochemical Company, Ltd. Although many people might not be aware of it, Samsung also operates in other fields such as advertising under the name of Cheil Communications, Inc., the entertainment industry with Samsung Entertainment Group. Samsun
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Approximate Word count = 1411
Approximate Pages = 6 (250 words per page double spaced)
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