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Samsung is one of the South Korean multinational manufacturing conglomerate with its headquarters at Samsung Town, Seoul, South Korea. It has many affiliated businesses that are largely tied with the Samsung brand. It is the biggest South Korean chaebol (business conglomerate). In the year 2020 Samsung ranks 8th in the most valued brand worldwide.
Samsung was established by Lee Byung-chul, who was founded in 1938 as an investment company. In the following three decades the group expanded into various areas, including textiles, food processing and insurance, securities and retail. Samsung began its journey into the electronics sector in the latter half of the 1960s, as well as the shipbuilding and construction industries around the mid-1970s. These sectors would be the driving force behind its expansion. After Lee’s death in the year 1987 Samsung became separated into five different business units – Samsung Group, Shinsegae Group, CJ Group and Hansol Group along with Joongang Group.
Noteworthy Samsung Industrial affiliates are Samsung Electronics (the world’s largest information technology company, maker of consumer electronics and chip maker as measured through 2017 revenues), Samsung Heavy Industries (the second-largest shipbuilder in the world according to 2010 revenue) as well as Samsung Engineering and Samsung C&T Corporation (respectively the largest construction firms). Other noteworthy companies are Samsung Life Insurance (the world’s 14th largest insurance company for life), Samsung Everland (operator of Everland Resort, the oldest theme park in South Korea) and Cheil Worldwide (the world’s 15th-largest advertising agency, determined by its 2012 revenue).