Samsung Success Story I History I Founder I CEO

The large Lee family’s major strengths are super-developed intuition and quick reaction, owing to which they were able to construct and subsequently hold control of the world’s largest electronics corporation, Samsung. They have been the first in North Korea to recognize the coming of global change and to modernize their firm in accordance with current trends and state standards for more than eight decades.

Lee Byong Chul, a Korean, founded Samsung. He started his own little business in his country of Korea in the early 1950s, grinding rice into flour in a mill and running a small rural shop. Because Korea was invaded by a hostile Japan at the time, doing business was extremely tough for a Korean.

Despite these challenges, Li Byong-Chul established the first trade enterprise in the little town of Daegu in 1938 with a staff of just over fifty employees to export the key food products to Manchuria and China: rice, sugar, and dried fish. “Three Stars” was the name of Lee Biong’s tiny trading enterprise (Samsung Trading Company).

Lee Byung soon established the world’s largest facility for the mass manufacture of rice vodka and other alcoholic beverages. These items were in high demand and were highly received by American troops. Lee Byung’s business took off in a big way at that point. On the Korean Peninsula, hostilities erupted in 1950 between the communist-minded North and the pro-American South. Lee Byung’s business was damaged by the conflict.

Lee Byung started a textile firm in 1951, followed by a sugar factory a year later, and he also worked in the insurance industry. Lee Byong Chul became South Korea’s richest and most recognized entrepreneur in the late 1950s, thanks to his friendship with the country’s president.

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The Lee family developed their business in the early 1960s, building Asia’s largest chemical fertilizer factory and founding the Joong-Ang newspaper. Later, a full-fledged medical insurance system for citizens was established.

The first personal computers were manufactured in early 1984. (the model was called SPC-1000). After the extravagant building of the world’s largest microwave factory was completed two years later, the first Samsung representative office in the UK and a facility for the industrial manufacture of VCRs for the USA were opened.

Then it’s just a matter of time before Samsung uses its vast resources to infiltrate every aspect of human life, from simple PCs and mobile phones to a power plant relay protection system.