History Of Samsung Corporation

6 Pages 1411 Words

Introduction
“The Republic of Korea is a highly developed stable, democratic republic located at the southern end of the Korean peninsula in northeast Asia, and includes some 3,000 nearby islands (Consular Information Sheet). With a vast history and customs, many outsiders must remember that the Chinese culture has dominated the society for more than 1,000 years. This culture has dominated their everyday lives through political, legal, and social systems in addition to literature, religion, and ethics (Chang 9). Generally, Koreans are very prideful of their country and its history. Therefore, it is important not to confuse the history of Korea with other Asian countries, especially Japan (Conversation 1). “South Korea is a Confucian society based on respect for elders and the sub service of females” (South Korea 3). In terms of the economics of the Republic of Korea, over the past couple of years the South Korean economy has transformed from a small, stagnate agricultural subsistence economy into one of the leading newly industrialized economies” (Cherry 7). This is due largely because of the origins of the country’s entrepreneurial elite in the political party in the 1950’s. “The South Korean economy is dominated by the chaebol or a smaller number of industrialized conglomerates consisting of large companies which produce a wide range of goods both for export and for sale in domestic market. The chaebol have come to exercise a significant influence over the economy as a whole (Cherry 221).
Samsung Group
“One of the largest chaebol’s in South Korea is Samsung Group. Samsung consists of approximately thirty-five companies, the number one being Samsung Electronics, the worlds number one maker of dynamic random access memory chips and a leading consumer appliance manufacturer. Samsung Group also includes financial firms such as a credit card company Samsung Card and an insurance firm Samsung Life Insuranc...