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Samsung Group is a South Korean group of companies, one of the largest that was founded in 1938. On the world market, it is known as a manufacturer of high-tech components, including the full-cycle production of integrated circuits, telecommunications equipment, home appliances, audio, and video devices. The company’s headquarters is located in Suwon.
The word “Samsung” in Korean means “three stars”. It is possible to associate such a name with the three sons of Samsung founder Lee Byon Chol, the youngest of whom Lee Gong-hee headed the company in 1987 in violation of all Eastern traditions of inheritance, in agreement with which the eldest son inherits most of the family property.
In the 1930s in Korea, entrepreneur Lee Byeon Chol opened his own business in the production of rice flour. A small warehouse in the city of Daegu becomes the beginning of a large history of Samsung. At that time, Korea was a colony of Japan, and it was quite difficult to engage in private business in the country. However, as early as 1938, Lee managed to create the first independent channel for exporting from Korea to China and Manchuria. The active development of food supplies, such as rice, sugar and dried fish, made it possible to officially register the Samsung Trading Company trademark. The foreign (for Korea) origin of the name was the result of the far-reaching, ambitious plans of the Korean entrepreneur: by the end of the 1950s, Lee Byeong was going to establish trade with the countries of the Americas. After the landing of US troops on the Korean Peninsula, the products of the plant for the production of rice vodka and beer began to be sold to representatives of the allied forces. The Korean War put an end to this business. Warehouses were looted and burned in the same way as the company’s main plants.
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