The Story of Samsung
A quick history of Samsung, Korea’s technology-focused behemoth.
Despite the hardships brought by the pandemic, Samsung had sales totaling over 210 billion dollars in 2020. Net income after accounting for all expenses? A whopping $23 billion.
It’s no wonder that the closest thing Apple has to a competitor in the smartphone market is Samsung in my part of the world. But even if they aren’t the market leader in smartphones, this massive Korean-based company holds strong in many other electronic markets — air-conditioning, kitchen appliances, and life-wear accessories, to name a few.
Given how it has captivated the world, I think it’s worthwhile revisiting the company’s humble roots. It’s hard to imagine that it was also once a diamond in the rough.
Humble beginnings
Following the end of the Korean War in 1953, South Korea was still a developing country trying to recover from the division of territory and the scars of military conflict. Against all odds, this recovery gave rise to a period known as the “Miracle on the Han River,” similar to the “Miracle of Rhine”, which described West…
