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The History of Samsung
Samsung Group Hangul Hanja Korean pronunciation:SAM.
is a South Korean multinational conglomerate company headquartered in
Samsung Town, Seoul. It comprises numerous subsidiaries and affiliated
businesses, most of them united under the Samsung brand, and is the largest South Korean chaebol.
Notable
Samsung industrial subsidiaries include Samsung Electronics (the world's
largest information technology company measured by 2011 revenues), Samsung Heavy Industries (the world's second-largest shipbuilder measured by 2010 revenues),
Samsung Engineering and Samsung c and T (respectively the world's 35th-
and 72nd-largest construction companies), and Samsung Techwin (a
weapons technology and optoelectronic manufacturer). Other notable subsidiaries include Samsung Life Insurance (the world's 14th-largest life insurance company), Samsung Ever land (the oldest theme park in South Korea) and Cheil Worldwide (the world's 19th-largest advertising agency measured by 2010 revenues).
Samsung produces around a fifth of South Korea's total exports and its revenues are larger than many countries' GDP; in 2006, it would have been the world's 35th-largest economy.
The company has a powerful influence on South Korea's economic
development, politics, media and culture, and has been a major driving
force behind the "Miracle on the Han River".
 |
||
| Type | Chaebol | |
|---|---|---|
| Industry | Conglomerate | |
| Founded | 1938 | |
| Founder(s) | Lee Byung-chull | |
| Headquarters | Samsung Town, Seoul, South Korea | |
| Area served | Worldwide | |
| Key people | Lee Kun-hee (Chairman and CEO) Lee Soo-bin (President, CEO of Samsung Life Insurance | |
| Products | Apparel, chemicals, consumer electronics, electronic components, medical equipment, precision instruments, semiconductors, ships, telecommunications equipment | |
| Services | Advertising, construction, entertainment, financial services, hospitality, information and communications technology services, medical services, retail | |
| Revenue | US$ 247.5 billion (2011) | |
| Net income | US$ 18.3 billion (2011) | |
| Total assets | US$ 384.3 billion (2011) | |
| Total equity | US$ 224.7 billion (2011) | |
| Employees | 344,000 (2010) | |
| Subsidiaries | Samsung Electronics Samsung Life Insurance Samsung Heavy Industries Samsung C and T Samsung SDS etc. |
|
| Website | Samsung.com | |
Name
According to the founder of Samsung Group, the meaning of the Korean hanja word Samsung is "tristar" or "three stars". The word "three" represents something "big, numerous and powerful"; the "stars" mean eternity.
History
1938 to 1970
The headquarters of Samsung Sanghoe in Daegu in the late-1930s
In 1938, Lee Byung-chull (1910–1987) of a large landowning family in the Uiryeong county came to the nearby Daegu city and founded Samsung Sanghoe
(삼성상회), a small trading company with forty employees located in Su-dong
(now Ingyo-dong). It dealt in groceries produced in and around the city
and produced its own noodles. The company prospered and Lee moved its
head office to Seoul in 1947. When the Korean War broke out, however, he
was forced to leave Seoul and started a sugar refinery in Busan as a
name of Cheil Jedang. After the war, in 1954, Lee founded Cheil Mojik
and built the plant in Chimsan-dong, Daegu. It was the largest woollen
mill ever in the country and the company took on an aspect of a major
company.
Samsung diversified into many areas and Lee sought to establish
Samsung as an industry leader in a wide range of enterprises, moving
into businesses such as insurance, securities, and retail. Lee placed
great importance on industrialization, and focused his economic
development strategy on a handful of large domestic conglomerates,
protecting them from competition and assisting them financially.
In 1948, Cho Hong-jai (the Hyosung group’s founder) jointly invested
in a new company called Samsung Mulsan Gongsa , or the Samsung
Trading Corporation, with the Samsung Group founder Lee Byung-chull. The
trading firm grew to become the present-day Samsung C and T
Corporation. But after some years Cho and Lee separated due differences
in management between them. He wanted to get up to a 30% group share.
After settlement, Samsung Group was separated into Samsung Group and Hyosung Group, Hankook Tire ...etc.
In the late 1960s, Samsung Group entered into the electronics
industry. It formed several electronics-related divisions, such as
Samsung Electronics Devices Co., Samsung Electro-Mechanics Co., Samsung
Corning Co., and Samsung Semiconductor History of Samsung Telecommunications Co., and
made the facility in Suwon. Its first product was a black-and-white television set.
1970 to 1990
The SPC-1000, introduced in 1982, was Samsung's first personal computer
(Korean market only) and uses an audio cassette tape to load and save
data - the floppy drive was optional
In 1980, Samsung acquired the Gumi-based Hanguk Jeonja Tongsin
and entered the telecommunications hardware industry. Its early
products were switchboards. The facility were developed into the
telephone and fax manufacturing systems and became the centre of
Samsung's mobile phone manufacturing. They have produced over 800
million mobile phones to date.The company grouped them together under Samsung Electronics Co., Ltd. in the 1980s.
After the
founder's death in 1987, Samsung Group was separated into four business
groups - Samsung Group, Shinsegae Group, CJ Group and Hansol Group.Shinsegae (discount store, department store) was originally part of
Samsung Group, separated in the 1990s from the Samsung Group along with
CJ Group (Food/Chemicals/Entertainment/logistics) and the Hansol Group
(Paper/Telecom). Today these separated groups are independent and they
are not part of or connected to the Samsung Group.
One Hansol Group representative said, "Only people ignorant of the laws
governing the business world could believe something so absurd,"
adding, "When Hansol separated from the Samsung Group in 1991, it
severed all payment guarantees and share-holding ties with Samsung
affiliates." One Hansol Group source asserted, "Hansol, Shinsegae, and
CJ have been under independent management since their respective
separations from the Samsung Group." One Shinsegae Department Store
executive director said, "Shinsegae has no payment guarantees associated
with the Samsung Group."
In the
1980s, Samsung Electronics began to invest heavily in research
and development, investments that were pivotal in pushing the company
to the forefront of the global electronics industry. In 1982, it built a
television assembly plant in Portugal; in 1984, a plant in New York; in
1985, a plant in Tokyo; in 1987, a facility in England; and another
facility in Austin in 1996. In total, Samsung has invested about $5.6
billion in the Austin location – by far the largest foreign investment
in Texas and one of the largest single foreign investments in the United
States. The new investment will bring the total Samsung investment in
Austin to more than $9 billion.
1990 to 2000
Samsung
started to rise as an international corporation in the 1990s. Samsung's
construction branch was awarded a contract to build one of the two
Petronas Towers in Malaysia, Taipei 101 in Taiwan and the Burj Khalifa
in United Arab Emirates. In 1993, Lee Kun-hee
sold off ten of Samsung Group's subsidiaries, downsized the company,
and merged other operations to concentrate on three industries:
electronics, engineering, and chemicals. In 1996, the Samsung Group
reacquired the Sungkyunkwan University foundation.
Samsung
became the largest producer of memory chips in the world in 1992, and is
the world's second-largest chipmaker after Intel (see Worldwide Top 20
Semiconductor Market Share Ranking Year by Year).In
1995, it created its first liquid-crystal display screen. Ten years
later, Samsung grew to be the world's largest manufacturer of
liquid-crystal display panels. Sony, which had not invested in
large-size TFT-LCDs, contacted Samsung to cooperate, and, in 2006, S-LCD
was established as a joint venture between Samsung and Sony in order to
provide a stable supply of LCD panels for both manufacturers. S-LCD
was owned by Samsung (50% plus 1 share) and Sony (50% minus 1 share)
and operates its factories and facilities in Tangjung, South Korea. As
on 26 December 2011 it was announced that Samsung had acquired the stake
of Sony in this joint venture.
Compared to
other major Korean companies, Samsung survived the 1997 Asian financial
crisis relatively unharmed. However, Samsung Motor was sold to Renault
at a significant loss. As of 2010, Renault Samsung is 80.1 percent owned
by Renault and 19.9 percent owned by Samsung. Additionally, Samsung
manufactured a range of aircraft
from the 1980s to 1990s. The company was founded in 1999 as Korea
Aerospace Industries (KAI), the result of merger between then three
domestic major aerospace
divisions of Samsung Aerospace, Daewoo Heavy Industries, and Hyundai
Space and Aircraft Company. However, Samsung still manufactures aircraft
engines and gas turbines.
2000 to present
The Samsung pavilion at Expo 2012
Samsung
Techwin has been the sole supplier of a combustor module of the Trent
900 engine of the Rolls-Royce Airbus A380-The largest passenger airliner
in the world- since 2001. Samsung Techwin of Korea is a revenue-sharing participant in the Boeing's 787 Dreamliner GEnx engine program.
Samsung was
instrumental in bringing the 2018 Winter Olympics to Pyeongchang. In
December 2009, the former chairman of Samsung, Lee Kun-hee, was pardoned
in order that he could return to the International Olympic Committee
and help South Korea bid for the 2018 Winter Olympics in Pyeongchang.
He had previously been convicted of tax evasion in 2008 and had been
part of two failed bids to bring the Olympics to South Korea.During the bid, Lee Kun-hee and figure skating gold medalist Kim Yuna
lobbied heavily for support; it was thought that Lee's influence would
help to secure the bid. On July 6, 2011, it was announced that
Pyeongchang would be the location of the 2018 Winter Games.Samsung C History of Samsung C and T Corporation will be among the top tier of firms competing for construction projects for the games.
In 2010, Samsung announced a 10-year growth strategy centered around five businesses. One of these businesses was to be focused on biopharmaceuticals, to which the Company has committed 2.1 trillion.
In December 2011, Samsung Electronics sold its hard disk drive (HDD) business to Seagate.
In the
first quarter of 2012, Samsung Electronics became the world's largest
mobile phone maker by unit sales, overtaking Nokia, which had been the
market leader since 1998.
In the August 21st edition of the Austin American Statesman, Samsung
confirmed plans to spend 3 to 4 billion dollars converting half of its
Austin chip manufacturing plant to a more profitable chip. The
conversion should start in early 2013 with production on line by the end
of 2013.
Acquisitions and attempted acquisitions
For a company of its size Samsung has made relatively few acquisitions.
- Rollei – Swiss watch battle
- Samsung Techwin acquired a German camera-maker Rollei on 1995. Samsung (Rollei) used its optic expertise on the crystals of a new line of 100% Swiss-made watches, designed by a team of watchmakers at Nouvelle Piquerez S.A. in Bassequort, Switzerland. Rolex's decision to fight Rollei on every front stemmed from the close resemblance between the two names and fears that its sales would suffer as a consequence. In the face of such a threat, the Geneva firm decided to confront. Rolex, this was also a demonstration of the Swiss watch industry's determination to defend itself when an established brand is threatened. Rolex sees this front-line battle as vital for the entire Swiss watch industry. Rolex has succeeded in keeping Rollei out of the German market. On 11 March 1995 the Cologne District court prohibited the advertising and sale of Rollei watches on German territory.
- Fokker, a Dutch aircraft maker
- Samsung lost a chance to revive its failed bid to take over Dutch aircraft maker Fokker when other airplane makers rejected its offer to form a consortium. The three proposed partners – Hyundai, Hanjin and Daewoo – have notified the South Korean government that they will not join Samsung Aerospace Industries Ltd.
- AST Research
- Samsung bought AST (1994) and tried to break into North America, but the effort foundered. Samsung was forced to close the California-based computer maker following mass defection of research staff and a string of losses.
- FUBU clothing and apparel
- In 1992, Daymond John had started the company with a hat collection that was made in his house in the Queens area of New York City. To fund the company, John had to mortgage his house for $100,000. With his friends, namely J. Alexander Martin, Carl Brown and Keith Perrin, half of his house was turned into the first factory of FUBU, while the other half remained as the living quarters. Along with the expansion of FUBU, Samsung, a Korean company, invested in FUBU in 1995.
- Lehman Brothers Holdings’ Asian operations
- Samsung Securities was one of a handful of brokerages looking into Lehman Brothers Holdings. But Nomura Holdings has reportedly waved the biggest check to win its bid for Lehman Brothers Holdings’ Asian operations, beating out Samsung Securities, Standard Chartered, and Barclays. Ironically, after few months Samsung Securities Co., Ltd. and City of London-based N M Rothschild and Sons (more commonly known simply as Rothschild) have agreed to form a strategic alliance in investment banking business. Two parties will jointly work on cross border mergers and acquisition deals.
- Grandis Inc. - memory developer
- In July 2011, Samsung announced that it had acquired spin-transfer torque random access memory (MRAM) vendor Grandis Inc.Grandis will become a part of Samsung's
- R and D operations and will focus on development of next generation random-access memory.
- Samsung and Sony joint venture - LCD display
- On December 26, 2011 the board of Samsung Electronics approved a plan to buy Sony's entire stake in their 2004 joint liquid crystal display (LCD) venture for 1.08 trillion won ($938.97 million).
Operations
Samsung comprises around 80 companies.
It is highly diversified, with activities in areas including
construction, electronics, financial services, shipbuilding and medical
services.
In FY 2009, Samsung reported consolidated revenues of 220 trillion KRW
($172.5 billion). In FY 2010, Samsung reported consolidated revenues of
280 trillion KRW ($258 billion), and profits of 30 trillion KRW ($27.6
billion) (based upon a KRW-USD exchange rate of 1,084.5 KRW per USD, the
spot rate as of 19 August 2011).
However it should be noted that these amounts do not include the
revenues of all subsidiaries of the group which are based outside South
Korea.
Subsidiaries and affiliates
As of April 2011 the Samsung Group comprised 59 unlisted companies
and 19 listed companies, all of which had their primary listing on the Korea Exchange stock-exchange.
| Company | Symbol | Company | Symbol |
|---|---|---|---|
| Samsung C and T Corporation | 000830 | Shilla Hotels and Resorts | 008770 |
| Samsung Securities | 016360 | Samsung Fine Chemicals | 004000 |
| Samsung SDI | 006400 | SI Corporation | 012750 |
| Samsung Electro-Mechanics | 009150 | Samsung Fire and Marine Insurance | 000810 |
| Samsung Engineering | 028050 | Samsung Electronics | 005930 |
| Samsung Techwin | 012450 | Samsung Life Insurance | 032830 |
| Cheil Industries | 001300 | Samsung Card | 029780 |
| Samsung Heavy Industries | 010140 | Cheil Worldwide | 030000 |
| Imarket Korea | 122900 | Credu | 067280 |
| Ace Digitech | 036550 |
Samsung Electro-Mechanics
Samsung
Electro-Mechanics, established in 1973 as a manufacturer of key
electronic components, is headquartered in Suwon, Kyeonggi-Do, South
Korea.
Samsung Machine Tools
Samsung Machine Tools of America is a national distributor of machines in the United States.
Joint ventures
Current
- aT Grain
State-run
Korea Agro-Fisheries Trade Corp. set up the venture, aT Grain Co., in
Chicago, with three other South Korean companies, Korea Agro-Fisheries
owns 55 percent of aT Grain, while Samsung C and T Corp, Hanjin
Transportation Co. and STX Corporation. each hold 15 percent.
Brooks Automation Asia Co., Ltd. is a joint venture between Brooks Automation
(70%) and Samsung (30%) which was established in 1999. The venture
locally manufactures and configure vacuum wafer handling platforms and
300mm Front-Opening Unified Pod (FOUP) load port modules, and designs,
manufactures and configures atmospheric loading systems for flat panel
displays.
- POSCO-SAMSUNG Slovakia Steel Processing Center Co., Ltd. (Slovakia)
Company POSS - SLPC s.r.o. was founded in 2007 as a subsidiary of
Samsung C and T Corporation, Samsung C and T Deutschland and the
company POSCO.
- POSCO SAMSUNG Suzhou Steel Processing Center Co., Ltd. (China)
- Samsung Air China Life Insurance
Samsung Air
China Life Insurance Co., Ltd. is a 50:50 joint venture between Samsung
Life Insurance and China National Aviation Corporation. It was
established in Beijing in July 2005.
- Samsung Bioepis
Samsung Bioepis is a joint venture between Samsung Biologics (85%) and the United States-based Biogen Idec (15%).
- Samsung Biologics
Samsung Electronics Co. and Samsung Everland Inc. will each own a 40
percent stake in the venture, with Samsung C and T Corp. and Durham,
North Carolina-based Quintiles
each holding 10 percent. It will contract-make medicines made from
living cells, and Samsung Group plans to expand into producing copies of
biologics including Rituxan, the leukemia and lymphoma treatment sold by Roche Holding AG and Biogen Idec Inc.
- Samsung BP Chemicals
Samsung BP
Chemicals Co., Ltd is a 50:50 joint venture between Samsung and the
United Kingdom-based BP, which was established in 1989 to produce and
supply high-value-added chemical products.
- Samsung Corning Precision Glass
Samsung
Corning Precision Glass is a joint venture between Samsung and Corning,
which was established in 1973 to manufacture and market cathode ray
tube glass for black and white televisions. The company’s first LCD
glass substrate manufacturing facility opened in Gumi, Korea in 1996.
- Samsung Sumitomo LED Materials
Samsung
Sumitomo LED Materials is a Korea-based joint venture between
Samsung LED Co., Ltd., an LED maker based in Suwon, Korea-based and the
Japan-based Sumitomo Chemical. The JV will carry out research and
development, manufacturing, and sales of sapphire substrates for LEDs.
- Samsung Thales
Samsung Thales Co., Ltd. (until 2001 known as Samsung Thomson-CSF
Co., Ltd.) is a joint venture between Samsung Techwin and the
France-based aerospace and defence company Thales. It was establsihed in 1978 and is based in Seoul.
- Samsung Total
Samsung
Total is a 50:50 joint venture between Samsung and the France-based oil
group Total S.A. (more specifically Samsung General Chemicals and Total
Petrochemicals).
- SB LiMotive
SB LiMotive
is a 50:50 joint company of Robert Bosch GmbH(commonly known as Bosch)
and Samsung SDI founded in June 2008. The joint venture develops and
manufactures lithium-ion batteries for use in hybrid-, plug-in hybrid
vehicles and electric vehicles.
- SD Flex
SD Flex
Co., Ltd. was founded on October 2004 as a joint venture corporation by
Samsung and DuPont, one of the world's largest chemical company.
- Sermatech Korea (1999 to present)
Sermatech owns 51% of its stock, while Samsung owns the remaining
49%. The U.S. firm Sermatech International, for a business focusing on
highly specialized aircraft construction processes such as special
welding and brazing.
- Siam Samsung Life Insurance
Samsung Life Insurance, holds a 37% stake while Saha Group also has a
37.5% stake in the joint venture, with the remaining 25% owned by
Thanachart Bank.
- Siltronic Samsung Wafer
Siltronic
Samsung Wafer Pte. Ltd, the joint venture by Samsung and wholly owned
Wacker Chemie subsidiary Siltronic, was officially opened in Singapore
in June 2008.
- SMP
SMP Ltd. is
a joint venture between Samsung Fine Chemicals and MEMC. MEMC
Electronic Materials Inc. and an affiliate of Korean conglomerate
Samsung are forming a joint venture to build a polysilicon plant.
- Steco
Steco Co., Ltd. is established as the joint - venture company with Samsung Electronics Co., Ltd and Japan TORAY in 1995.
- Stemco
Stemco is a joint venture between Samsung Electro-Mechanics and the Japan-based Toray Industries which was established in 1995.
- Toshiba Samsung Storage Technology
Toshiba Samsung Storage Technology Corporation (TSST) is joint venture between Samsung Electronics and Toshiba
of Japan which specialises in optical disc drive manufacturing. TSST
was formed in 2004, and Toshiba owns 51% of its stock, with Samsung owns
the remaining 49%.
Defunct
- Alpha Processor
In 1998, Samsung created a U.S. joint venture with Compaq--called
Alpha Processor Inc. (API)--to help it enter the high-end processor
market. The venture was also aimed at expanding Samsung's non-memory
chip business. At the time, Samsung and Compaq invested $500 million in
Alpha Processor.
- GE-Samsung Lighting
GE Samsung
Lighting was a joint venture between Samsung and the GE Lighting
subsidiary of General Electric. The venture was established in 1998 and
was broken up 2009.
- Global Steel Exchange
Global
Steel Exchange was a joint venture formed in 2000 between Samsung, the
United States-based Cargill, the Switzerland-based Duferco Group, and
the Luxembourg-based Tradearbed (now part of the ArcelorMittal), to
handle their online buying and selling of steel.
- S-LCD
S-LCD Corporation was a joint venture between Samsung Electronics (50% plus one share) and the Japan-based Sony Corporation
(50% minus one share) which was established in April 2004. On December
26, 2011, Samsung Electronics announced that it would acquire all of
Sony's shares in the venture.
Partially owned companies
- Atlantico Sul
Samsung Heavy Industries currently owns 10 percent of the Brazilian
shipbuilder Atlantico Sul, which operates the largest shipyard in South
America. Joao Candido, the largest ship built to date in Brazil, was
built by Atlantico Sul with technology supplied by Samsung Heavy
Industries.
- DGB Financial Group
Samsung
Life Insurance currently holds a 7.4% stake in the South Korean banking
companyDGB Financial Group, making it the largest shareholder.
- Doosan Engine
Samsung Heavy Industries currently holds a 14.1 percent stake in Doosan Engine, making it the second-biggest shareholder.
- Korea Aerospace Industries
Samsung
Techwin currently holds a 10 percent stake in Korea Aerospace Industries
(KAI). Other major shareholders include the state-owned Korea Finance
Corporation (26.75 percent), Hyundai Motor (10 percent) and Doosan (10
percent).
- MEMC KOREA
MEMC's
joint venture with Samsung Electronics Company, Ltd. In 1990, MEMC
entered into a joint venture agreement to construct a silicon plant in
Korea.
- Rambus Incorporated
Samsung currently owns 4.19 percent of Rambus Incorporated.
- Renault Samsung Motors
Samsung currently owns 19.9 percent of the automobile manufacturer Renault Samsung Motors.
- Seagate Technology
Samsung currently owns 9.6 percent of Seagate Technology,
making it the second-largest shareholder. Under a shareholder
agreement, Samsung has the right to nominate an executive to Seagate’s
Board of Directors.
- SungJin Geotec
Samsung Engineering holds a 10 percent stake in Sungjin Geotec, an offshore oil drilling company that is a subsidiary of POSCO.
- Taylor Energy
Taylor Energy is an independent American oil company that drills in the Gulf of Mexico based in New Orleans, Louisiana. Samsung Oil and Gas USA Corp., subsidiaries of Samsung, currently owns 20% of Taylor Energy.
Major customers
The world's largest oil and gas project, Sakhalin II- Lunskoye platform
under construction. The topside facilities of the LUN-A (Lunskoye) and
PA-B (Piltun Astokhskoye) platforms are being built at the Samsung Heavy
Industry shipyard in South Korea.
Major customers of Samsung include:
- Royal Dutch Shell
- Samsung Heavy Industries will be the sole provider of liquefied natural gas (LNG) storage facilities worth up to US$50 billion to Royal Dutch Shell for the next 15 years.
- Shell has unveiled plans to build the world's first floating liquefied natural gas (FLNG) platform. At Samsung Heavy Industries' shipyard on Geoje Island in South Korea, work is about to start on a "ship" that, when finished and fully loaded, will weigh 600,000 tonnes – the world's biggest "ship". That is six times as much as the biggest US aircraft carrier.
- United Arab Emirates government
- A consortium of South Korean firms - including Samsung, Korea Electric Power Corp and Hyundai - has won a deal worth 40 billion dollars to build nuclear power plants in the United Arab Emirates.
- Ontario government
- The government of the Canadian province of Ontario signed off one of the world's largest renewable energy projects, signing a $6.6bn deal that will result in 2,500 MW of new wind and solar energy capacity being built. Under the agreement a consortium – led by Samsung and the Korea Electric Power Corporation – will manage the development of 2,000 MW-worth of new wind farms and 500 MW of solar capacity, while also building a manufacturing supply chain in the province.
Logo
|
The current Samsung logo design is intended to emphasize flexibility
and simplicity while conveying a dynamic and innovative image through
the ellipse, the symbol of the universe and the world stage. The
openings on both ends of the ellipse where the letters "S" and "G" are
located are intended to illustrate the company's open-mindedness and the
desire to communicate with the world. The English rendering is a visual
expression of its core corporate vision, excellence in customer service
through technology.
The basic color in the logo is blue, the color that the company has
had used in its logos for years. The blue color symbolizes stability and
reliability, which are precisely what the company wishes to accomplish
with its customers. It also stands for social responsibility as a
corporate citizen, a company official explained.
Audio logo
Samsung has
an audio logo, which consists of the notes . The audio
logo was produced by Musikvergnuegen and written by Walter Werzowa.
Samsung Medical Center
Samsung
donates around US$100 million per annum to the Samsung Medical Center
(Korean), a non-profit healthcare provider founded by the group
in 1994.Samsung Medical Center incorporates Samsung Seoul Hospital (Korean), Kangbook Samsung Hospital (Korean), Samsung Changwon
Hospital (Korean), Samsung Cancer Center (Korean) and
Samsung Life Sciences Research Center (Korean). Samsung
Cancer Center, located in Seoul, is the largest cancer center in Asia.Samsung Medical Center and the multinational pharmaceuticals company Pfizer
have agreed to collaborate on research to identify the genomic
mechanisms responsible for clinical outcomes in hepatocellular
carcinoma.
Sponsorships
Olympics
Samsung, which started as a domestic sponsor of the Olympics in Seoul
1988, has been a worldwide Olympic partner since the 1998 Nagano Winter
Olympics.Samsung is hoping their role in the London 2012 Olympic Games will
provide a "golden moment" for the company's UK reputation, according to
Olympic news outlet Around the Rings.
Football
Samsung are
the current sponsors of the English Premier League football club
Chelsea Football Club. They also sponsor English League One clubs
Swindon Town and Leyton Orient.
Price cartels
DRAM price cartel
Samsung was fined EUR 145,728,000 for being part of a price cartel of ten companies for DRAMs
which lasted from 1 July 1998 to 15 June 2002. The company received,
like most of the other members of the cartel, a 10-% reduction for
acknowledging the facts to investigators. Samsung had to pay 90% of
their share of the settlement, but Micron avoided payment as a result of
having initially revealed the case to investigators.
CRT glass price cartel
Samsung Corning Precision Materials participated in a price cartel of four companies for CRT
glass which lasted from 23 February 1999 to 27 December 2004. Samsung
Corning Precision Materials received full immunity and was therefore not
fined as it revealed the existence of the cartel to the European
Commission.
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