Samsung's influence on South Korea
1. Introduction
Nowadays in South Korea it is possible to live a „Samsung-only“ life: You can use a Samsung credit card to buy a Samsung TV on which to watch a Samsung-owned pro baseball team in your Samsung-made apartment.
The Samsung Group is a South Korean multinational conglomerate company headquartered in Seoul and operating worldwide. During the last century Samsung became the largest chaebol – the Korean term for corporate groups that were jump-start with government support and established itself as the main driving economic and political factor in South Korea. That is why the Republic of Korea is also referred to as the Samsung Republic.
This paper analyses Samsung’s influence on the South Korean economy and politics (chapter 2) and draws a conclusion whether the term Samsung republic is suitable or not (chapter 3).
2. Samsung’s influence in South Korea
This chapter points out Samsung’s positive and negative impact on the South Koren economy (2.1) and its political system (2.2).
2.1 The influence on South Korean economy
Founded in 1938 Samsung began with trading vegetables and dried Korean fish. Forming an alliance with military dictator Park Chung-hee was the foundation of the quick uprising of the company.
In the shadow of Samung’s rise many Korean companies followed the road of success. The whole Korean economy benefited from Samsung striving for innovations boosting the technological progress and development of the infrastructure in the country. So the conglomerate helped Korea to grew from a predominately rural, agricultural nation into an urban, newly industrialized country.
Today Samsung Electronics – the flagship company of Samsung Group - is South Korea’s greatest economic success. Holding about 33 percent of the global smartphone market, Samsung Electronics produces the world’s best-selling smartphone – the Galaxy. However smartphones are just a part of the company’s portfolio. Samsung is pretty much involved everywhere in
Nowadays in South Korea it is possible to live a „Samsung-only“ life: You can use a Samsung credit card to buy a Samsung TV on which to watch a Samsung-owned pro baseball team in your Samsung-made apartment.
The Samsung Group is a South Korean multinational conglomerate company headquartered in Seoul and operating worldwide. During the last century Samsung became the largest chaebol – the Korean term for corporate groups that were jump-start with government support and established itself as the main driving economic and political factor in South Korea. That is why the Republic of Korea is also referred to as the Samsung Republic.
This paper analyses Samsung’s influence on the South Korean economy and politics (chapter 2) and draws a conclusion whether the term Samsung republic is suitable or not (chapter 3).
2. Samsung’s influence in South Korea
This chapter points out Samsung’s positive and negative impact on the South Koren economy (2.1) and its political system (2.2).
2.1 The influence on South Korean economy
Founded in 1938 Samsung began with trading vegetables and dried Korean fish. Forming an alliance with military dictator Park Chung-hee was the foundation of the quick uprising of the company.
In the shadow of Samung’s rise many Korean companies followed the road of success. The whole Korean economy benefited from Samsung striving for innovations boosting the technological progress and development of the infrastructure in the country. So the conglomerate helped Korea to grew from a predominately rural, agricultural nation into an urban, newly industrialized country.
Today Samsung Electronics – the flagship company of Samsung Group - is South Korea’s greatest economic success. Holding about 33 percent of the global smartphone market, Samsung Electronics produces the world’s best-selling smartphone – the Galaxy. However smartphones are just a part of the company’s portfolio. Samsung is pretty much involved everywhere in
Bibliography: Forbes (2013): Ranking of the most powerful people 2013, published 30.10.2013 http://www.forbes.com/sites/carolinehoward/2013/10/30/the-worlds-most-powerful-people-2013/ http://www.japantimes.co.jp/news/2012/12/12/business/republic-of-samsung-viewed-warily-at-home/#.UnR62vlSjdk Samsung.com (2013): Samsung company profile http://www.samsung.co.kr/upload/profile/SamsungProfile2013.pdf Washington Post (2012): In South Korea, the republic of Samsung, published 2012-12-09