Society, economy & sport

Founding of Samsung Group

1938

Samsung began as a trading company in Daegu, in what was then Japanese-ruled Korea, founded by Lee Byung-chul to export dried fish, fruit and noodles. After the Korean War it moved into sugar refining, textiles, insurance and retail, and in the late 1960s into electronics. Over time it grew into a chaebol, a sprawling family-controlled conglomerate with interests in shipbuilding, construction, finance and technology. Samsung Electronics became one of the world's largest makers of memory chips, televisions and smartphones. The group has also been involved in major corruption scandals in South Korea.

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