The History of Samsung Electronics (1): Paving a New Path (1968~1970)
This is the first post in our exploration of Samsung Electronics’ journey from a humble black and white TV manufacturer to the leader in electronic innovation it is today, producing everything from mobile phones to industrial air conditioners. For over 40 years Samsung has been a pioneer in the electronics industry in Korea, and now the world. Let’s learn more about the roots of Samsung Electronics.
The birth of Samsung Electronics
On December 30th, 1968, 7 promoters, including founding Chairman ByungChull Lee, were gathered. It was decided they wanted to enter an entirely new field and also to elect executives and set their purpose of the business. At this meeting, SangHee Jung was appointed as a first representative director. For the name of the business, there were many candidates on their lists including Cheil Electronics, Samsung Electronics, and Samsung Electric. At that time, their prominent businesses such as Cheil Jedang (Sugar Manufacturing Co.) and Cheil Mojik used ‘Cheil’ and Samsung Moolsan (Known today as Samsung C&T Corporation) used ‘Samsung’.
So it was to be decided by vote and ‘Samsung’ and ‘Electronics’ won the most votes. Therefore, it was decided to name their corporation Samsung Electronics, so January 13th, 1969, Samsung Electronics Corporation was born.
First overseas training
Samsung Electronics recruited 137 trainees in 1969. They were sent to Sanyo Electric Co. and NEC Corporation in 1970. There they learned about producing radio condenser speakers, deflecting coils (DY), transformers (FBT) from Sanyo while they learned about Braun tube, vacuum tube, discharge tube and others from NEC. After their training, they worked as technical professionals at Samsung Electronics.
As Confucius said, “study the past, if you would divine the future.” Maybe learning about the history of Samsung Electronics could offer hints to where the company is headed for the future.
Curious to learn more now? Visit us again next week, when we’ll talk about the Samsung Electronics’ rapid expansion, beginning the production of an assortment of other electronic goods in a few short years.
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