The evolution of Samsung,
which began as a modest trading enterprise established by Lee Byung-chul in
1938, into a prominent global conglomerate is truly remarkable. In its early
years, Samsung engaged in various sectors including food processing, textiles,
insurance, securities, and retail. It was not until the late 1960s that the
company ventured into the electronics sector, a strategic decision that would
become crucial for its international success. The mid-1970s marked an
additional phase of diversification as Samsung expanded into construction and
shipbuilding, highlighting significant milestones in its growth trajectory.
Following the passing of Lee
Byung-chul in 1987, Samsung underwent a division into five distinct business
entities: Samsung Group, Shinsegae Group (which concentrated on retail), CJ
Group (dedicated to food and entertainment), Hansol Group (primarily engaged in
paper and telecommunications), and JoongAng Group (focusing on media and
publishing). This reorganization enabled each entity to concentrate on
particular sectors, fostering their development and expertise within their
respective fields.
