Samsung started off as a grocery trading store in 1938. Lee Byung-Chull, the founder began his business by trading noodles, dried fish and vegetables. After the Korean War, he started a textile mill, thereby expanding his business. From the beginning, his strategy was to diversify and expand. Soon, he stepped into construction work, logistics and insurance and Lee met with success in all his endeavours.
The Korean economy would suffer a major backlash if Samsung decides to leave business forever. Samsung is branched out into four major sections including electronics, engineering, construction, and most high-tech products. Samsung Group now have their presence in almost eighty fields including textiles, ship building, aerospace manufacture, oil mining, construction works, high-polymer chemicals, genetic engineering tools, telecommunications and nanotechnology.
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