Samsung was introduced in 1938, Samsung was first founded under the name of Samsung General Store in Daegu. Then in 1948, Samsung Corporation was established a company and in order to meet the increasing needs of the people of that era, which was providing food and clothing. In 1993, Samsung declared a New Management that aimed to advance its business sectors by valuing product’s quality over quantity. This led to tremendous growth in sales.
Samsung Group is one of the largest South Korean business groupings. It started as an exports company in 1938 but soon diversified. The Samsung Group, a former conglomerate, employs well over 400,000 employees were there around worldwide and they are manufactures electronics, chemicals, ships, merchant trade, runs hotels, amusement parks, constructs skyscrapers, textiles, food, etc. in separate companies after the Asian financial crisis reorganization. Suwon, South Korea, is also sometimes colloquially called "Samsung City".
Samsung Electronics, was founded in the year 1969, and it is the largest member of the Samsung Group, and it became one of the largest electronics companies in the world. Founded in Daegu, South Korea, it established anout 58 countries and has over 208,000 employees . The total turnover in 2003 was about 101.7 billion USD. Samsung Electronics has been recognized by Interbrand and BusinessWeek as being one of the top 100 most valuable brands in the world.
