Lesser-Known Expertise

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Get to know more about the other businesses endorsed by Samsung which are among the best services offered in East Asia.

Samsung has made its name known since its beginnings in the last century in 1938. It is one of the world’s largest producers of electronic devices and is the exporter of the most cutting-edge technology in today’s age. But not many people know that Samsung has also delved into sectors others than electronics and has delivered spectacularly in each case.

It owns several companies and covers a broad range of business interests. Many of these sectors are most probably some names you could have never associated with Samsung on your own. But after reading some more, you will realize how big of a conglomerate Samsung really is.

Best-Known products

Samsung is widely known for its broad range of diverse varieties in array of consumer and industrial electronics such as, appliances, digital media devices, semiconductors, memory chips as well as integrated systems. Of South Korea’s total exports, Samsung contributes about one fifth. The company began its journey into the world of electronics in 1969 when several electronics divisions were set up and black-and-white television became their first products. By the 1970s Samsung had started exporting home electronics overseas turning it to a major manufacturer in Korea. At this time the company acquired a 50 percent stake in Korea Semiconductor that further strengthened it.

The Galaxy smartphone series was launched by Samsung during the decade of 2000 which not only became some of the company’s most formidable products but also ranked amongst the best-selling smartphones globally. In addition to its own products, Apple’s earliest iPhone models were equipped with microprocessors from Samsung thereby making them one of the largest microprocessor manufacturers on earth at the close of the twentieth century-early twenty-first century age. Since 2006, no other company has been able to take over from Samsung as far as being top global producer for televisions is concerned.

Engineering

The Engineering and Shipbuilding subsidiaries of the Samsung Group are extremely strong workforces in the global market. The C&T Corporation works under Samsung and was involved in some of the most famous projects undertaken by human beings. This list includes the Burj Khalifa whose construction was aided by this Corporation. Many other ambitious civil engineering, urban development and plant construction projects have also been undertaken and implemented successfully.

The Shipbuilding industry is also a giant in its field and overlooks the construction of large vessels like oil tankers, offshore drilling platforms, and container ships. Many shipyards have also been built and equipped by the Samsung Industries which, in turn, lead to the production of the most advanced ships. It is the world’s second-largest shipbuilder based on the revenues collected.

Biotech

Samsung Biologics, which was created in the year 2011, is a biopharmaceutical division of Samsung that specializes in contract development and manufacturing (CDMO) services including making drug substance and product plus bioanalytical testing. Located in Incheon, South Korea, Samsung Biologics runs the largest biologic contract manufacturing complex among which three. Additionally, the firm has expanded its service laboratory for contract development to San Francisco California USA. The Korean Exchange stock market lists Samsung Biologics under ticker number 207940.

Samsung Bioepis produces biosimilar drugs as its main objective. Samsung Biologics owns more than 50% of it in partnership with US-based Biogen Idec. By entering into an agreement with Samsung Bioepis in 2014, Bogen Idec would commercialize future anti-TNF biosimilar products throughout Europe.

Financial Services

Samsung Card Company, a credit card company in Korea is traded on the Korean exchange under the symbol 029780. Samsung also extends its reach to financial institutions such as Samsung Life Insurance and Samsung Card.

Samsung Life Insurance is the largest life insurer in South Korea with a wide range of financial product offerings including whole life insurance products, annuities and health benefits. On the other hand, Samsung Card plays an important role in South Korean markets by offering credit card services, consumer finance and payment solutions.

Remarkably successful growth and performance have been driven primarily by Samsung Electronics’ commitment to technological innovation. “This is evident from annual global sales of over 400 million mobile devices powered by our cutting-edge smartphone technology”, as stated by Samsung corp.

Leading multi-national IT service company, Samsung SDS was created in March 1985. It is a major player in the provision of IT systems such as; ERP, IT infrastructure, IT consulting, IT outsourcing and data centre operations. In 2012, it achieved total revenues of KRW6105.9bn (approximately USD5.7bn), making it the largest IT services provider in Korea. Samsung C&T Corporation is a key market player listed on Korea Exchange (000830).

Fire and Marine Insurance

Seoul-based multinational general insurance firm Samsung Fire & Marine Insurance ranked first among them. Korean Anbo was set up as Korea’s fire and marine insurer back on January 1952 following its transformation to Samsung Fire & Marine Insurance on December 1993. Its wide range of products includes accident, auto-casualty-fire-liability-marine insurance and personal pensions-loans etc. As at March 2011 this business had spread into ten countries boasting a customer base reaching around 6.5 million people today.

Fashion

Apart from all of this, Samsung has also successfully made a name for itself in fashion. The Fashion subsidiary of Samsung deals with fashion trends which range from luxurious to more affordable clothing. It isn’t known as much as the electronics branch of the conglomerate but still operates internationally as well as locally well enough.

Hotels and Resorts

Hotel Shilla is a hotel that many people refer to as The Shilla; it was established in March 1979 by the late Lee Byung-chul who was the founder of Samsung Group. On the Korea Exchange, Shilla Hotels and Resorts is listed publicly (stock number 008770).

Advertising

As for Advertising, Samsung has the Cheil Worldwide corp which has become one of South Korea’s biggest advertising firms. This has been achieved by adopting different marketing methods and advertisement solutions. The list of these solutions includes digital marketing, creative solutions, and media planning. The advertising strategies have been found to be extremely fruitful as the firm has paved the path for more innovative ideas and now, it operates on a global scale too.

Medicine

The medicinal industry isn’t left untouched either. Samsung Medison is the subsidiary being operated by the group which specializes in the production of medical devices like digital ultrasound systems. The technology is so advanced and efficient that it is getting used by more and more hospitals all around the globe. But Samsung’s venture into this industry just proves that the tech giant has left a mark in sectors other than tech.

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