Samsung Samsung

Background

Currently helmed by Lee Soo-bin, CEO of Samsung Life Insurance, it has been run by generations of one of the world's wealthiest families, formerly by chairman Lee Kun-Hee, the third son of the founder, Lee Byung-Chull. Samsung Group also owns the Sungkyunkwan University, a major private university in South Korea, with many of its graduates being employed by Samsung Group affiliates.

Many major South Korean corporations such as CJ Corporation, Hansol Group, Shinsegae Group and Joong-Ang Ilbo daily newspaper were previously part of the Samsung Group, split apart by the government in order to prevent Samsung from becoming too powerful. Many leading companies in South Korea, notably MP3 player manufacturer iriver and search engine portal Naver, were established by ex-Samsung employees. A large number of South Korean firms, particularly those in the electronics industry, are dependent on Samsung for the supply of vital components or raw materials such as semiconductor chips or LCD panels. This has led to continued allegations of price fixing and monopolistic practices.

Samsung Group accounts for more than 20% of South Korea's total exports[6], with strong government support, including the ability to access unlimited amount of funds from major banks in South Korea. In many domestic industries, Samsung Group is the sole monopoly dominating a single market, its revenue as large as some countries' total GDP. In 2006, Samsung Group would have been the 34th largest economy in the world if ranked, larger than that of Argentina.[7] The company owns or has taken over so many mid to small sized businesses that it is often called a 'colonial empire' or 'hungry dinosaur'. The company has a powerful influence on the country's economic development, politics, media and culture, being a major driving force behind the Miracle on the Han River; many businesses today use its international success as a role model.


2008 HOT Dance Club Remix ( More than 100 songs)