Samsung Background Samsung is a Korean company that has risen to prominence in many fields over the years. The size and the scope of the company is almost unimaginable, as they are one of the largest and most diverse companies in the world.
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Samsung Group, was founded in 1938 by Byung-Chull Lee, a celebrated Korean entrepreneur. Lee started a small trading company with a $2,000 nest egg and 40 employees. He called it Samsung, which means 'three stars' in Korean. The company enjoyed moderate growth before the Communist invasion in 1950 forced Lee to abandon his operations in Seoul. Lee established a sugar refinery in 1953, a move that was criticized at the time because sugar could be easily obtained through American aid.
But for Lee, the act was important because it was the first manufacturing facility built in South Korea after the Korean War. From sugar, wool, and other commodity businesses, Lee moved into heavier manufacturing. The company prospered under Lee's philosophy of making Samsung the leader in each industry he entered. In addition to the electronics division, which is the most profitable and successful one in the world, the company also has forayed into finance, chemicals, retail, and straight-up entertainment - all with great degrees of success.
The company employs many of South Korea's finest employees, including many with PHD level education. This is not surprising, seeing as the company's assets total somewhere around $300 billion. The company has some of the most loyal employees around and many work every day - that means no holiday time off or weekends -- both because they want to and it is expected
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