The group consists of numerous affiliated businesses, [ 2 ] most of which operate under the Samsung brand, and is the largest chaebol business conglomerate in South Korea.
As of , [update] Samsung has the world's fifth-highest brand value. Founded in by Lee Byung-chul as a trading company , Samsung diversified into various sectors, including food processing, textiles, insurance, securities, and retail, over the next three decades. In the late s, Samsung entered the electronics industry, followed by the construction and shipbuilding sectors in the midsβareas that would fuel its future growth. The three stands for something big, numerous and powerful , [ 12 ] while stars stands for everlasting or eternal.
Samsung started out as a small trading company with forty employees located in Su-dong now Ingyo-dong. When the Korean War broke out, he was forced to leave Seoul. He started a sugar refinery in Pusan named Cheil Jedang. In , Lee founded Cheil Mojik , a textiles company, and built the first plant in Chimsan-dong, Taegu. It was the largest woollen mill in the country at the time of construction. Samsung diversified into various areas as Lee aimed to establish the company as a leader across multiple industries.
The business expanded into sectors such as insurance, securities, and retail. After a few years, Cho and Lee separated due to differences in management style. Cho wanted a 30 equity share.
In the late s, Samsung Group entered the electronics industry. Its first product was a black-and-white television set. In , Samsung acquired the Kumi -based Hanguk Jeonja Tongsin and entered telecommunications hardware.
