One of the largest tech companies in the world…
Lee Byung-Chul was born in Korea in 1910, he was the son of a wealthy landowning family and attended the Waseda Univeristy in Tokyo but did not complete his degree. He created Samsung Trucking Co. in 1938 in Daegu, South Korea. By 1945 the company was moving goods inside and outside Korea. The company moved its headquarters to Seoul in 1947, and by 1950 it had to move it’s operations to Busan because of the Korean War. The company did benefit because of the influx of troops in the area. The company continued to grow a in 1969 in started to make electronics. He died in 1987 and now his estate is able to be seen by the public to display his large art collection. His son, Lee Kun-Hee is now the chairman of Samsung.
https://s3-us-west-2.amazonaws.com/secure.notion-static.com/b52df3e0-8f8b-47e5-849d-8a20378bd0e4/download_(1).jfif
Born on 12th February, 1910 in Uiryeong County in South Korea Lee was the only son of a wealthy family.
N/A (no info)
N/A (no info)
Chull attended Waseda University in Tokyo but left his degree incomplete. Initially, he used his inherited wealth to start a rice mill. Although he dedicated himself in this first business it failed to float and sunk without generating any major profits.
After the failure of his first business Chul established an export business in Daegu on 1st March, 1938 and named the company Samsung Trading Co. The company exported varieties of goods and eatables like fish, vegetables, and fruits to the regions of China. The company saw a major boom in growth as it was supplying goods throughout Korea and even to other countries by 1945. The company was then shifted to Seoul in 1947. Samsung Trading Co. was considered to be one of the ten largest trading companies during that time. But, Chul had to face another difficulty. This time, the war. As the war broke out Chul had to shift his company to a safer location in Busan around 1950.
The massive influx of US army troops and the military equipment boosted his trucking business for the next year and a half. Chul also started a sugar refinery which saw the light of success quite early. After the war, he went on to set up a wool factory in 1954 in Daegu which later became the largest wool factory in the country. As the business was growing Chul ventured into various other sectors like finance, insurance, retail, and security.
In 1980, Samsung acquired Hanguk Jeonja Tongsin, a major company in telecommunications. This was the same year when the company had its own electronics division under Samsung Electronics Co., Ltd. unit. The company then started producing telephones, fax machines, and various other electronic devices on a large-scale.