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  1. Home

  2. About BFA

  3. Conferences & Meetings

  4. Press Center

  5. Members & Partners

  6. BFA Academy

  7. Areas of Focus

  8. Regional Cooperation

Members
Partners

Samsung
Origin:Boao Forum for Asia      Time:2019-02-05 11:20:55    Views:451072

Samsung

Samsung has a history of 80 years since Samsung Trading Company was founded in Daegu, Korea in 1938. With the management philosophy of economical contribution to the nation, priority to human resources, and pursuit of rationality, Samsung Trading Company started by selling and exporting after processing agricultural and marine products. Now, Samsung has grown to own a group of companies with a total of 62 affiliated companies working in diverse areas. The affiliated companies include electronics business such as electronics, display, SDI, electro-mechanics, finance business such as life insurance, fire & marine insurance, card, securities, heavy industries and engineering, trading and service business such as C&T, hotel, hospital etc. and other independent affiliates.

Samsung Electronics became one of the world’s top-notch

IT global companies. The brand value announced by  

Interbrand stood at US$ 59.9 billion, ranking 6th globally. 

Samsung set the goal of ‘building the second Samsung’ in China. With this goal in mind, it entered the Chinese market starting from 1992 and now has about 100,000 employees working in 160 bases including a total of 18 companies, 28 production bases and 8 research centers. 

Sales topped US$ 63 billion in 2017 and investment in the Chinese market ranks #1 among foreign-funded enterprises with a total of US$ 31.2 billion as of the end of 2017. Samsung is planning to expand its investment focusing on high-tech industries such as semiconductors, display, batteries for electric cars, etc. 

Samsung is executing its business strategy in step with the Chinese government’s deepening and expanding reform and opening-up policy, policy to build the domestic market through grand development of the western area and urbanization. Samsung is trying to become a true local company doing business focusing on the Chinese domestic market. To achieve this goal, detailed strategy will be planned to develop consistent business structure fit for the local market, expand investment in high-tech equipment industry, strengthen R&D, diversify businesses, expand investment and business area to the mid-western/northeastern/small and mid-sized cities.