Samsung Thrives on People, Technology, Future

Korea Times (Seoul, Korea), January 30, 2000 | Go to article overview

Samsung Thrives on People, Technology, Future


Corporate values of Samsung, one of Korea's most powerful conglomerates, can be described with three very simple and comprehensive words; people, technology, and future.

Its philosophy of ``devoting human resources and technology to the development of a better global society'' is deeply instilled in everything it does.

In 1938, as the clouds of World War II were gathering around the world, late company chairman Lee Byung-chull established Samsung in Taegu and proceeded to help Korea get out from under difficult economic conditions in 1940s and in 1950s.

In the 1960s, Samsung entered many of its key industries, such as electronics, and built up an industrial base that helped the company grow through exports in the 1970s.

Samsung evolved towards semiconductors and other high-tech industries in the 1980s and started to boldly diversify globally in the early 1990s.

Today, Samsung excels in such areas as information and telecommunications, computing, office automation, aerospace industries, factory automation, opto-electronics, and mechatronics.

Samsung continues to challenge the limits of technology and seeks innovation in meeting consumer desires all around the world.

During the past 60 years Samsung has grown out to be Korea's largest multinational company. With over 260,000 employees in more than 60 countries the Koreans work hard to create a better global society through ever better products and services.

Samsung's global ``speed management system'' is aimed at satisfying its customers by responding better with unique, personalized product options to their individual needs.

By staying close to itst customers, Samsung aims to create ``WorldBEST'' products and services. World-class products and consistent quality are essential for building mindshare and the goal of the nation's globalization drive is to make Samsung one of the best known and most respected brands in the world.

At Samsung, the belief is that corporate success carries with its broadscale communal responsibility and that thinking is the basis for its ``co-prosperity'' approach wherever it does business.

All multinational companies share the same dream of becoming the leader in the global marketplace but in the world arena only few companies succeed.

For many years Samsung has dominated the Korean market by winning the hearts and minds of consumers.

To become a leader not only at home but in the global marketplace Samsung is now investing heavily in technology, design, and training of human resources.

In the face of Korea's financial turmoil in the late 1997 and the changed economic environment, Samsung dismantled its 40-year-old centralized group structure early 1998 to bolster the competitiveness and management responsibility of its subsidiaries.

Samsung's affiliate-wide operations now focus only on such corporate culture aspects as management philosophy, code of conduct, brand and corporate identity issues, leaving the responsibility of managing the affiliates totally for the professional executives of each independent company.

Even under the new corproate structure, Samsung thrives in a selective industries in which it is either the number one or making effort to be one.

The major products of electronics related Samsung affiliates include semiconductors, CDMA wireless communications equipment, high- definition televisions, information systems, computers and peripherals, and home appliances.

Heavy industry related companies build power plants, ships, waste water treatment facilities, cargo and material handling systems, aircraft, and factory automation systems. …

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