From its inception as a small export business in Korea, Samsung has grown to become one of the world’s leading electronics companies, specializing in digital appliances and media, semiconductors, memory, and system integration. Samsung was founded on March 1st, 1938 by focusing primarily on trade export, selling dried Korean fish, vegetables, and fruit to Manchuria and Beijing. In little more than a decade, Samsung-which means "three stars" in Korean-would have its own flour mills and confectionery machines, its own manufacturing and sales operations, and ultimately evolve to become the modern global corporation that still bears the same name today ("Samsung ," ).
During the 1970’s, the company also took steps to enhance its competitive position in the world's textile industry, integrating its manufacturing processes from raw materials to end products. As a result, many new companies were created, including Samsung Heavy Industries Company in 1974 and Samsung Shipbuilding and Samsung Precision Company (now Samsung Techwin) in 1977.
Another burst of growth for Samsung came from the burgeoning home electronics business. Samsung Electronics, already a major manufacturer in the Korean market, began to export its products for the first time during this period. Samsung's also acquired a 50 percent stake in Korea Semiconductor, further solidifying Samsung Electronics' position as a leader in semiconductor manufacturing ("Samsung ," )
During the Mid 90’s, came about the Asian financial crisis. The Asian financial crisis was a period of financial crisis that gripped much of East Asia, and raised fears of a worldwide economic meltdown due to financial contagion. The banking sector was burdened with non-performing loans...
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...ctronics vows more aggressive investment, targets tablets. Retrieved from http://profit.ndtv.com/news/corporates/article-samsung-electronics-vows-more-aggressive-investment-targets-tablets-371454
Russel , J. (2013, May ). Samsung targets business customers with new marketing campaign across 9 key countries . Retrieved from http://thenextweb.com/asia/2013/05/02/samsung-targets-business-customers-with-new-marketing-campaign-across-9-key-countries/
Samsung . (n.d.). Retrieved from http://www.samsung.com/us/aboutsamsung/samsung_group/history/
Scholasticus , K. (2013, Jan). Economic factors affecting business . Retrieved from http://www.buzzle.com/articles/economic-factors-affecting-business.html
Wakabayashi, D. (2013, July ). Samsung, apple crush asian competition. Retrieved from http://online.wsj.com/news/articles/SB10001424127887324136204578639420880418016
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