BCB2044 Compensation And Benefit Introduction Company Profile Samsung started out as a producer of basic commodities such as wool and sugar in 1928. “Samsung General Stores” opened in North Kyung-sang Province, Korea. Gradually, Samsung engaged in insurance industry through incorporating a local fire& marine insurance company. After developing its business in oversea, Samsung continue to expand horizontally into various business area such as life insurance, retailing, communication, newspaper and broadcasting company as well as heavier industries which is aircraft manufacturing, shipbuilding and construction. At 1970s, it was Samsung’s crucial period of shaping its success today which is its strength in semi-conductor, information and telecommunication industry’s development. The company undergoes another transformation under Chairman Kun Hee Lee’s lead. Through the Chairman Kun Hee Lee’s “New Management”, Samsung acknowledge the need to change their management’s philosophy to keep up with the rapid changing global economy. Today, Samsung has adopted the “Digital Management” in order to secure the leading position in the Information Age. Its portfolio has increased to various companies engaging in different industry. Samsung’s range of industries and performance outmatched others. The Samsung group’s three core business consists of electronic, finance and trade and service In 1938, Mr. Byung-Chull Lee is the founder of Samsung Store which leads the business in his time. Lee is famous with his philanthropic activities and spirit of social duty as well as pioneering in the Korea’s industrialization. Today, Mr. Kun Hee Lee son of the founder; the new chairman appointed in 1987 was the man who lead Samsung to its success today. The “New Management” and “Digital Management” proposed by him have indeed brought the group to its prosperous state today. Lee was one of the Asia’s 50 most influential people by Asiaweek for six continuous years and acknowledge as world’s most influential people in the French weekly Le NouvelObservateur. One of the key companies in the group which is Samsung Electronics Co. Ltd is a global leader in semiconductor, telecommunications and digital convergence Page 1