Samsung Group

Performance indicators

2014: Consolidated revenue - $305 billion

In 2014, the Group's consolidated revenue Samsung amounted to $305 billion against $268.8 billion a year earlier. During the same period, net profit fell to $22.1 billion from $26.2 billion. The total value of the conglomerate's assets reached $529.5 billion, the total share capital - $231.2 billion.

Aktivs

Electronics

As of April 2015, Samsung Group companies are developing a wide range of electronics, including network and mobile technologies, household appliances, printing and medical equipment, electronic components and materials, batteries and displays.

• Samsung Electronics is one of the world's largest manufacturers of high-tech components, telecommunications equipment, household appliances, audio and video devices. On the Russian market, the company is represented wider than other subsidiaries of Samsung Group.

• Samsung SDI is developing chemical current sources. Until 2014, the company also produced plasma displays, but abandoned them, focusing on energy solutions.

• Samsung Electro-Mechanics specializes in the production of electronic integrated components and mechanical devices.

• Samsung SDS provides a variety of IT services, including IT consulting and IT outsourcing.

• Samsung Display is a manufacturer of screens used in TVs, smartphones, tablets, laptops and other electronic devices. In 2015, the company decided to separate the divisions for the production of LCD and OLED displays from each other.

• Samsung Corning Advanced Glass is a joint venture between Corning and Samsung Display, producing glass substrates for OLED displays.

Mechanical engineering

As of April 2015, in the mechanical engineering market, Samsung Group deals with design, supply and construction issues - both civil and industrial. In addition, the holding supplies ships, offshore platforms, energy solutions and security systems.

• Samsung C&T Engineering & Construction Group is a major participant in the civil, industrial and housing construction market.

• Samsung Heavy Industries is one of the leaders in shipbuilding and offshore development. The company also supplies power solutions and power and control systems.

• Samsung Engineering provides construction, engineering and project management services in the global market. The company builds petrochemical, metallurgical and industrial plants, as well as water treatment plants and power plants.

• Samsung Techwin develops surveillance systems, semiconductor equipment, engines, armored combat mechanisms and excavators.

Chemical industry

By April 2015, Samsung Group's areas of activity in the chemical industry are oil refining and chemical technologies for construction, power and healthcare.

• Samsung Total Petrochemicals offers refining and chemical products.

• Samsung General Chemicals creates raw materials for polyester fiber and all kinds of eco-friendly materials using advanced technologies.

• Samsung Fine Chemicals produces pure chemicals and substances such as polycrystalline silicon for solar cells.

• Samsung BP Chemicals is a chemical manufacturer created in conjunction with British BP Chemicals.

Finance and Insurance

Samsung Group, as of April 2015, is represented in the finance and insurance markets, dealing, in particular, with asset and risk management, investment work, brokerage services, credit card services and life and property insurance.

• Samsung Life Insurance is the largest insurance company in the South Korean market.

• Samsung Fire & Marine Insurance offers financial and insurance services in global markets, including the United States, Europe and China.

• Samsung Card specializes in financial services that optimize the costs of companies and consumers.

• Samsung Securities makes money from financial services such as deal support, underwriting, brokerage, customer asset management and online trading.

• Samsung Asset Management manages investments and funds, as well as consulting services.

• Samsung Venture Investment is a venture capital fund that allocates money to develop a promising business. The company not only finances the activities of firms, but also helps them in business management and technical issues.

Services and other activities

As of April 2015, the Samsung Group conglomerate covers a wide variety of services. Among them: hospitality and duty-free retail, resort business, healthcare, catering, advertising, design and fashion, research, contract production of biologics and biosimilars, landscape architecture and more. These services are handled by the following companies:

• Cheil Industries
• Hotel Shilla
• Cheil Worldwide
• S-1 Corporation
•  Samsung Medical Center
• Samsung Economic Research Institute
• Samsung Biologics
• Samsung Bioepis
• Samsung Welstory

History

2022: Investing $356 billion in chips and biotechnology

On May 24, 2022, it became known that Samsung Group will invest 450 trillion won ($356 billion) in the next five years to accelerate growth in semiconductors, biopharmaceuticals and other next-generation technologies. The main investments are related to the activities of Samsung Electronics.

South Korea's largest conglomerate said investments through 2026 are expected to help Samsung deliver long-term growth in strategic areas such as the chip manufacturing sector, and through aggressive investment in the biopharmaceutical sector, make it as successful as the chip business.

Samsung invests $356 billion in chips and biotechnology

Securing domestic chip and biomaterial supply chains will be of strategic importance and will play an important role in securing South Korea's economic security, Samsung officials said.

Most of these funds will be directed to the semiconductor division, which is rapidly expanding in an attempt to compete with Intel and TMSC in making chips for global brands such as Nvidia and Qualcomm.

Samsung Electronics, the world's largest memory chip maker, did not provide a breakdown of the numbers, but added that 80% of investments would be made in South Korea and the rest would be invested abroad. Samsung added that the company's statement, among other things, includes a promise to invest 240 trillion won, made in August 2021.

The 450 trillion won investment, which is expected to create 80,000 jobs, is more than 30% higher than Samsung's 330 trillion won investment in the five years to 2021.

Samsung Electronics and another South Korean conglomerate, SK, previously pledged to invest more than 510 trillion won in semiconductor research and production between now and 2030 under a national plan drawn up by the previous South Korean president's administration.^[1]

2021

Samsung head accused of bribes is released on parole

In early August 2021, it became known that the head of the South Korean company Samsung Lee Jae-young, accused of bribes, would be released from prison on August 13. Lee served 18 months of a 30-month prison sentence for bribing former South Korean President Park Geun-hye. Read more here.

The family of the deceased head of Samsung will pay more than 12 trillion Korean won inheritance taxes

At the end of April 2021, it became known that the family of the late former head of Samsung Lee Ghosn Hee will pay a record inheritance tax of more than 12 trillion Korean won (about $10.78 billion). He was the richest man in South Korea - at the time of Lee's death, his fortune was estimated at more than 25 trillion won ($22.5 billion). This includes company shares, properties and art. Read more here.

2020: Death of Company Chairman Li Ghosn Hee

Samsung Chairman Lee Ghosn Hee died on October 25, 2020 at the 79th year of his life in Seoul. For the past few years, due to health problems, Li Ghosn Hee has remained the formal head of the company. Read more here.

2017: Samsung Group to split into industry companies?

In March, it became known that the merger of Samsung groups of companies would cease to exist. The division will take place into 3 independent industry companies: Samsung Electronics, Samsung Construction & Trading Corporation and Samsung Life. Each of the branches will carry out its activities in the fields of electronics, trade and construction and financial activities, respectively.

Such a decision provoked a political scandal related to the company's top management and South Korean President Park Geun-hye. The heads of all seven divisions resigned, and the head of Samsung Group, Lee Jae-yong, was arrested by the authorities. Thus, decisions on long-term planning and development are invalid and abolished, and traditional meetings of the highest management staff will not be held in the future. It should be noted that now each of the companies will develop their strategic decisions and implement their own industry planning policy.

2015

In May 2015, it became known that the division of Samsung C&T Trading & Investment Group became part of another division of the conglomerate - Cheil Industries. Their combined revenue in 2014 amounted to $25 billion.

2014

In May 2014, the head of Samsung Group Li Ghosn Hee was hospitalized due to a heart attack. There were rumors in the media that his son Lee Jae Yong had long been involved in strategic planning and organizing important business ties, so it was he who would take his father's place.

1980-1990s

In 1980, Samsung Electronics began manufacturing air conditioners, and three years later entered the personal computer market. In 1981-1982 The company released the first millionth color TV and 10 million black and white (the mark of 20 million was overcome in 1988), an office was opened in Germany.

In 1984, Samsung Data Systems was created, which was then renamed Samsung SDS and began to engage in IT services.

In 1988, Samsung Electronics included Samsung Semiconductor & Telecommunications, after which the company began to specialize in household and communication equipment, as well as semiconductor solutions.

In 1991, Samsung completed the development of a mobile phone. The following year, the company completed the development of a 250 MB hard drive and the world's first 64 MB DRAM memory, and launched production facilities in China.

In the period from 1994 to 1996, Samsung noted that it developed the first electric car in Korea, launched a 30 million microwave oven, developed the first 33-inch dual-screen TV and an Alpha processor, which at that time was one of the fastest. In the late 90s, Samsung showed the world's first flat-screen TV and the first to start mass production of digital TVs. In addition, the company introduced a smartphone and a 3D monitor.

1940-1970s

In the difficult war years of World War II, Samsung has repeatedly reoriented its work to new directions, including the production of rice vodka, beer, sugar and textiles. An insurance division was also formed.

10 years after its founding, Samsung already had its own milling facilities and confectionery, and also conducted its own trading activities.

In the 60s of the XX century, Lee Ben Chol gained fame and became one of the richest in South Korea thanks to friendly relations with the president of the country. After that, the company began to flourish: it built the largest fertilizer factory in Asia, opened the publishing house of the newspaper Joong-Ang, launched shipbuilding plants, and completed projects for the construction of hotels, universities and hospitals.

After diplomatic relations between South Korea and Japan improved markedly in 1965, Lee Ben Chol secured the technological support of the Rising Sun Country authorities, which provoked the growth of the electronic industry. In 1969, Samsung and Sanyo formed a joint venture Samsung-Sanyo- Electronics (SEC), which subsequently took full ownership of Samsung.

After that, the history of Samsung Electronics began. In 1972, it launched the first black and white TVs on the market, and five years later, color models. In 1973, Samsung launched mass production of refrigerators and washing machines. In 1977, the company exported goods worth more than $100 million. In 1978, Samsung opened a representative office in the United States.

1938: Foundation of the Dried Fish Trading Company

Samsung Sanghoe was founded in 1938 by Lee Ben Chol, who initially focused the company's business on export trading, selling dried fish, vegetables and fruits.

Office of Samsung Sanghoe Fruit and Fish Company, Korea, 1938. With this began the Samsung empire

Notes