Samsung facts for kids

Kids Encyclopedia Facts
Samsung
Native name 삼성 (三星)
Industry Conglomerate
People who started it Lee Byung-chul
Area served Worldwide
Key people Lee Kun-hee
(Chairman)
Lee Jae-yong
(Vice Chairman)
Things made Apparel, automotive, chemicals, consumer electronics, electronic components, medical equipment, semiconductors, solid state drives, DRAM, ships, telecommunications equipment, home appliances
Services Advertising, construction, entertainment, financial services, hospitality, information and communications technology, medical and health care services, retail, shipbuilding
Money earned Increase US$208,49 billion
Net income Increase US$37.1 billion
Total assets Increase US$265 billion
Total equity Increase US$188.9 billion
Employees 320,671
Subsidiaries Samsung Electronics
Samsung Engineering
Samsung C&T Corporation
Samsung Heavy Industries
Samsung SDS
Samsung Life Insurance
Samsung Fire & Marine Insurance
Cheil Worldwide
Samsung
Hangul 삼성
Hanja 三星
Revised Romanization Samseong
McCune–Reischauer Samsŏng

Samsung is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul. It comprises numerous affiliated businesses, most of them united under the Samsung brand, and is the largest South Korean chaebol (business conglomerate).

Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities, and retail.

Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth.

Following Lee's death in 1987, Samsung was separated into four business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since 1990, Samsung has increasingly globalised its activities and electronics; in particular, its mobile phones and semiconductors have become its most important source of income.

As of 2017, Samsung has the 6th highest global brand value.

Samsung has a powerful influence on South Korea's economic development, politics, media and culture and has been a major driving force behind the "Miracle on the Han River". Its affiliate companies produce around a fifth of South Korea's total exports. Samsung's revenue was equal to 17% of South Korea's $1,082 billion GDP.

Samsung also is the sponsor of several sports teams, such as the Chelsea Football Club.

Images for kids


Samsung Facts for Kids. Kiddle Encyclopedia.