Speaking of Samsung, most people would think of a company that makes smartphones. However, if you come to Korea and find out, you will find that a company called Samsung is active in various fields, not just electronic products. As it is world famous and large, it is divided into several divisions within the company. This time, we will look at Samsung C&T, a construction company of the Samsung Group.
Samsung C&T is a general logistics, trade, leisure, and construction company of the Samsung Group and a division of the Samsung Group. This company plays a political role as the actual parent company of the Samsung Group rather than an economic role. Also, the company's market capitalization is about 25 trillion won (as of September 2021), but it is characteristic that the stocks of the listed affiliates are more than 2 times the market capitalization.
The Lee family, who leads Samsung Electronics, owns a 21% controlling stake. This could mean that Samsung Electronics is very powerful compared to other conglomerates, considering that it is a super-giant company with a market capitalization of over 600 trillion won.
Source: Samsung Engineering-Invest Chosun (investchosun.com)
In terms of history, in 1938 Lee Byeong-cheol, the owner of the cooperative Miso, established Samsung Sanghoe.
At first, I mainly sold agricultural products in the Yeongnam region, but as I exported to other regions such as China and Japan, I became involved in the trade business. In 1948, he and Cho Hong-je established Samsung C&T Corporation in Seoul with joint funds, but it was closed in 1950 due to the Korean War. Later, Samsung C&T was re-established in Busan in 1951. At that time, sales and profits were greatly increased by exporting shell casings (bullets or shell shells) or discarded weapons in the battle area to Japanese factories as old and old metal, and it became a chaebol company. It's an opportunity to grow.
Samsung C&T entered the apparel (clothes) business by merging with Samyoung Industrial in 1974 and merging Jeilbokjang in 1975, and was designated as a general trading company and listed on the Korea Stock Exchange in the same year. In 1995, while expanding into the cable TV business, we launched 'Catch One', a cable pay movie channel. In 1997, Samsung Plaza and Homeplus were opened to enter the distribution business. ' was opened.
Source: About Samsung C&T | History (samsungcnt.com)
In 2000, Samsung C&T acquired Jusan, a courier company, and sold its distribution division to ARD Holdings, a subsidiary of the Aekyung Group, in 2006. In 2013, we acquired Wesso (UK company name), and in 2015, reverse merged with (former) Cheil Industries to change the name to 'Samsung C&T'.
Samsung C&T is evaluated as a very great company by participating in large and famous projects around the world.
For example, Samsung C&T took the lead in constructing the Incheon Bridge, the Hong Kong Touma Line subway, and the 'Abu Dhabi Salam Underground Motorway' in the United Arab Emirates. In addition, Samsung C&T led the construction of the world's tallest skyscrapers, such as the Burj Khalifa.
