Samsung needs no introduction as it is one of the leading tech giants in the world. As at 2020, it has the largest share of the mobile phone market in 2020.
One thing many people don’t know about Samsung Group is that it doesn’t have interests only in the tech industry although in recent years most of its successful products are from the industry. It is also important to note that it didn’t start in the tech industry but as a trading company.
Currently, it is the largest South Korean conglomerate contributing a lot to Korean economy. In 2019, it was reported hat the company contributes 20% to the Korean economy ahead of Hyundai and other companies.
Samsung Wiki and Company History
On the 1st of March, 1938, it was founded in Seoul, South Korea by Lee Byung-chul during the era when the Japanese still ruled Korea. The company has its headquarters at Samsung Town, Seoul.
Although the company has diversified into many areas such as retail, textiles, construction, security and more. One of the notable industry it has made so much impact is the electronics industry. Samsung Electronics is currently the world’s largest information technology company and consumer electronics maker.
Upon the founder’s death, the company was divided into four (4) companies namely:
- Samsung Group
- Shinsegae Group
- CJ Group
- Hansol Group
This was in 1987. Since the 1990s, it has grown in value especially the electronics aspect which deals with smartphones, TVs, etc and is now a major part of the company’s revenue.
In South Korea, her influence is not limited to business but also economy, politics, and Korean media. No doubt. this is one of the most powerful companies in the whole of Asia.
Currently, its’ shares are privately held and they aren’t listed on any stock exchange. It also has about 80 companies under it in different fields.
Those occupying executive positions include:
- Kim Ki Nam
- Kim Hyun Suk
- Koh Dong Jin
Samsung Net Worth and Valuation
The market capitalization of the Group stands at $326 billion while it is worth close to $300 billion.
David is a content writer with interests in fields like politics, tech, and finance. David has been writing since he was a little kid (only the Universe knows the exact year 😊 ). Writing has been a passion for a long time and now it is a profession for him. He is the brain behind Mafian Media, the parent company to media sites such as Zimapp.com