The Representative

India's Youth News Tank

From selling fishes to selling electronics – Story of Samsung

1 min read
From selling fishes to selling electronics - Story of Samsung

Samsung was once renowned for selling dried fish and other groceries. Can you believe this!? Samsung was founded in 1938 by Byung-Chull Lee as “Samsung Sanghoe”.

It started by exporting dried local fish, vegetables, and fruit to Manchuria and Beijing. Lee had started the business with Rs 30,000 & it expanded to have its own flour mills and confectionery machines, in just over a decade.

In 1951, Lee established “Samsung Moolsan” (now Samsung Corporation). In the next couple of decades, many other subsidiaries were born, including

  • Samsung Fire & Marine Insurance
  • Samsung Life Insurance- Largest insurance company in South Korea!
  • Samsung Everland- A theme park!
  • Samsung C&T Corporation- A construction company!

But it was in 1969, after 3 decades when Samsung-Sanyo Electronics (which later became Samsung Electronics that we know today) was established.

Do you think a proper movie should be made on Samsung’s story?

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