Through the theme selection event, Samsung, the number 1 brand of the Korean economic world, GOT selected. Samsung not only has a long history of Byung-chul Lee, Kun-hee Lee, and Jae-yong Lee, but it has a close relationship between the crucial events of Korea, so I made more episodes than usual. How did Samsung become a renowned brand not only in Korea but the whole world? Alright, here goes episode 1 of Brand Encyclopedia, Samsung. 1. Byung-chul Lee, the Silver Spoon of Uiryeong In 1910, Chan-woo Lee, a landlord of a vast land in Gyeongsangnam-do Province, was living happily with his wife, Jae-rim Kwon, 2 sons and 1 daughter. The house that the family lived in was built by Hong-suk Lee, Chan-woo's grandfather. It was a gigantic mansion with Anchae, Sarangchae, and Daemoonchae in a vast land of 1884㎡. Then on 12th February 1910(Lunar calendar), the family got blessed with another boy. This child is the first CEO of Samsung, who goes down in Korean business history, Ho-Am Byung-chul Lee. For your information, the house where Byung-chul was born is a perfect landscape according to the theory of divination based on topography, where they have mountains at the back and river in the front. They say the place is brimming with the vibe of wealth, so many tourists visit to get some luck of fortune. Anyhow, on 29th August 1910, after Byung-chul was born, Korea loses its national rights through the Japan–Korea Treaty of 1910. It was a difficult time, but Byung-chul's father was thankfully a landlord with a vast land to farm million sacks of rice, so he spent a wealthy life ever since he was young. Ever since he was 6 years old, he attended a village school found by his grandfather, called Munsan-jung. As a typical student who had his hair braided, he learned Thousand Character Classic, Four Books and Three Classics (The Analects, Mencius, Great Learning, Doctrine of the Mean, Classic of Poetry, Book of Documents, Book of Changes). He especially read The Analects a lot, and was greatly influenced by it. But Byung-chul wasn't the keenest in academics, so he needed so much more time to learn something than others. Then, in 1921, Byung-chul of age 12 moved from Uiryeong, his hometown, to live with his older sister Bun-shi Lee's home in Jinju. Then Bun-shi took Byung-chul somewhere. It was a barbershop. That's how Byung-chul lost his long hair that he grew for 12 years in the blink of an eye. He later remembered the day as the day of his enlightenment. 2. The diploma he didn't get The reason why Byung-chul moved to Jinju is to attend a new school. In 1921, Jisu Elementary School was established in Jisu-myeon, Jinju-si, Gyeongsangnam-do. The school was found on the land that Jun Heo donated to raise a person of talent. As additional information, Jun Heo was the father of Man-jung Heo, the founder of GS. And then, in March 1922, Byung-chul, with short hair, transferred to Jisu Elementary School in Jinju as grade 3, since he learned the Thousand Character Classic. In the same class, there was a boy named In-Hoi Gu, who later finds Lak Hui Chemical Industrial Corp, a.k.a LG Corporation. But the two boys didn't attend the same school for long. In September 1922, Byung-chul moved to his grandparent's home in Gyeongseong, which is called Seoul in modern days, and transferred to Susong Elementary School. When he first came to Seoul, he had problems with communication due to his accent. He didn't have great grades either, so he was around 35th-40th out of 50 students. However, he obtained a good grade in mathematics. But Byung-chul couldn't finish and graduate school for various reasons. From Gyeongseong Susong Elementary School, he transferred to Jungdong Middle School, where he can learn grade 5 and 6 courses of elementary schools in a short time. And after a year, he finished the education course and entered Jungdong Middle School. As he was attending middle school, he got quite a decent grade. But on 5th December 1926(Lunar calendar), Byung-chul's parents arranged his marriage with Du-eul Park while he was in his 3rd grade of middle school at the age 17. By the time he finished the first semester of 4th grade in middle school after marriage, Byung-chul suddenly decided to go to Japan to study further without finishing his academic course. He conveyed his decision to his father, but that was the first and the last time he got scolded. Without his parents' help, he asked the friend of his brother, Byung-gak Lee, for a hand. His brother's friend was a son of a wealthy family in Haman, so he willingly gave him 500 won. It was a lot of money since one sack of rice cost 13 won back then. His brother's friend who willingly gave Byung-chul the money is Hong-jae Jo, who later finds Hyosung Corporation. In October 1929, Byung-chul finally entered the department of political economy at Waseda University after 3 years of preparation. For the first time in his life, he passionately devoted himself to his academics. And in his free time, he roamed around many factories to learn as much as possible about the Japanese industry. However, Byung-chul faced another problem, which was a mysterious illness that made him worn out in seconds when he studies even for a short while. He tried to cure it by all means in Japan, but it was no good. In the end, in 1931, Byung-chul had to give up studying abroad in Japan and came back to his hometown. Later, Byung-chul recalled those days in his autobiography as following. "I dropped out of Waseda University. It was the fourth dropout I had since my academic course from Jisu and Susong elementary schools to Jungdong Middle School, and I was left with no diploma in my hand." However, during the short stay in Japan, he learned quite a lot. "They said Tokyo was one of the centers of the world, and I was able to see the world there." 3. Starting his business The illness that Byung-chul suffered in Japan was beriberi, caused by the lack of thiamine(Vitamin B1). Thankfully, he recovered his health as he rested back in his hometown. But when he let go of his academics, he was led astray. He started a gambling called Chinese dominoes, which is a game played with number cards. He had three children: the eldest girl born in 1928 called In-hee Lee, the eldest boy called Maeng-Hee Lee born in 1931, and the last boy called Chang-hee Lee born in 1933. But Byung-chul wasted his time playing Chinese dominoes day and night. Then one day in 1934, he came in late again after spending a whole day on gambling. When he opened the door, he saw his three children sleeping tight under the bright moonlight coming in through the window. That was a wake-up call for Byung-chul. 'I can't live like this. I must have a plan!' He tried to sleep that night, but couldn't because his head was brimming with thoughts. After thinking over and over, he decided to do business. A few days later, Byung-chul conveyed his thoughts on starting a business. Byung-chul's father gave him a fund worth harvesting 300 sacks of rice, saying 'Decide if it persuades you.' Upon getting a fund, Byung-chul moved from Busan to Daegu and Gyeongseong to look for a business item. And he heard that in the port city of Masan, they polish the rice harvested in Gyeongsangnam-do Province and export it to Japan. The quantity was more than several millions of sacks per year, and they even had to wait in line to get their rice polished. In March 1936, Byung-chul realized that rice polishing can make some business, so he invested 30,000 won along with his friends Hyun-yong Jung and Jung-won Park to start a rice mill in Masan. Back in the days, transportation wasn't provided well so the cost of transport was expensive. But Byung-chul used it to his advantage by starting his own transportation business after taking over Il-chul Vehicle Company. The first business of Byung-chul was a big success. Soon after, he planned to start the third business. Soon after, he planned to start the third business. He was good at math and analyzed the prices of rice. At that time, the farmer exploitation policy of the Japanese required that half of all rice produced be paid as rent. But if one combined the revenue from the business with bank loans, bought the land back, and harvested rice, there would be some revenue even after paying the rent and bank interests. As he had planned, Byung-chul received a loan from Choseon Industrial Bank Masan Branch and started buying large amounts of land, as if he was going to buy the entire Gimhae Plains. That way, just a year later, he owned more than 1,600 acres of land and greatly expanded his business with an annual rice production of more than 1,300 tons. But on July 7th, 1937, Japan invaded China, and the Japan-China War broke out. When the war began, Choseon Industrial Bank, where Byung-chul took loans from, stopped all loan services, and to make matters worse, land prices plummeted. In the end, Byung-chul went bankrupt. 4. Samsung Sanghoe Byung-chul Lee, who once had great success, was later bankrupt. But his father was a great supporter for him. His father, Chan-woo Lee, gave him a huge sum of money amounting to 30,000 won. At the time, the average monthly salary was 15 won, so 30,000 won was a tremendous amount of money. Before launching a new business, Byung-chul travelled to Busan, Gyeongseong, Pyeongyang, Sineuiju, Wonsan, Heungnam, and even to Beijing, Qingdao, and Shanghai in China, in order to get inspirations for his next business idea. In China, he saw commercial activities being conducted in a massive scale. After 2 months of travelling, he realized that fruits, vegetables, and dried foods were most appropriate for trade. On March 1st, 1938, with the 30,000 won that he received from his father, he bought a shop of 9,000 sqft in size and started a business that traded fruits, vegetables, and dried foods. He combined Korean people's favorite number, 3 (sam), with the chinese character meaning the brilliant star, Sung, and named his business Samsung Sanghoe. Samsung Sanghoe bought fruits and vegetables from Daegu and dried foods from Pohang and exported them to China. Because he had experienced failure with his rice mill, he decided that it would be too risky to depend solely on trade. So he bought flour mills and noodle-making machines and started a manufacturing business as well. The noodle product that came out at this time was the "Byeolpyo" noodles. Samsung Sanghoe was a stable and thriving business. In 1939, when he had some excess money, Byung-chul took interest in a different type of business, which was brewing. He acquired a company that a Japanese had been running, called "Choseon Brewery". Meanwhile, as the Japan-China War continued for a long time, it inevitably had an influence on the economic recession. However, in the times of hardships, one product maintained its popularity. Alcohol. The business did not have any hardships, but rather the problem was that there was not enough in stock. Then, in December 7th, 1945, the Japanese Empire bombed the Pearl Harbor. Thus began the Pacific War, and it is reported that from this point on, both Samsung Sanghoe and Choseon Brewery were forced to to supply 95% of their products to the Japanese military. In the meantime, on January 9th, 1942, Byung-chul and Du-eul had their 7th child. This child is Kun-hee Lee, who would later become the 2nd chairman of Samsung Group. And in August 15th, 1945, Korea gained its independence. 5. Samsung Commerce and Trading Corporation After independence, Byung-chul continued running Samsung Sanghoe and Choseon Brewery. And Choseon Brewery launched a new refined rice wine, named "Laurel Wreath", which enjoyed great popularity across the country. However, although he had expanded his business, Byung-chul had one regret yet in his heart. The domestic economy at the time was in complete ruins. Byung-chul decided that what the situation needed most was international trade, which would help supply the products that people needed in everyday life. Indeed, this was a risky idea. But Byung-chul decided that he woud start international trade with the money he had made thus far. He made the bold decision to entrust both Samsung Sanghoe and Choseon Brewery to his friend, Sun-geun Lee. And in May, 1947, he moved to Seoul with his family. And in November, 1948, he leased a 2-story building the size of 3500 sqft. in Jongno 2-ga, established Samsung Commerce and Trading Corporation, and started trades with Macau and Hong Kong. When he established Samsung C&T Corporation, one of the investors was Hong-jae Jo, his brother's friend, whom I've mentioned earlier. According to Byung-chul's autobiography, he made 75% of the investment, and 25% was made by the other investors. But according to "My Recollections", memoirs of Hong-jae Jo, he allegedly invested 10 million won, and Byung-chul invested 7 million won, with which they established Samsung C&T Corporation with the capital of 17 million won. The won written in Chinese character has a thousandth of value compared to the "won" we use today. We cannot be sure who is right, but due to conflicts over shares, Byung-chul Lee and Hong-jae
Jo ended up splitting up in the future. Let's take a look at this story later. Anyway, when the company was established, the two kept a very close relationship like actual brothers. Inside the company, any employee could invest in the company as they wanted and was given their fair share of the profit. Samsung C&T Corporation was not very well-known when it first started but expanded its business in a stable manner. So, in 1949, it ranked 7th in turnover in the trading business after major trading corporations of the time, such as Taek-bo Jeon's Cheonwoosa, In-hyung Kim's DongA trading company, Yong-ju Kim's Daehan Trading, Heung-sik Park's Hwasin Trade, etc. And six months later, it caught up with all of them and became the top trading company. Because of this, he was selected as part of the tour group sent to study Japanese economy, along with Taek-bo Jeon, Gyeong-dong Seol, etc. But in June 25th, 1950, the Korean War broke out as North Korea invaded the South. The war left in ruins everything that Samsung C&T Corporation had accomplished. Byung-chul's family got a truck with the other employees and sought refuge in Daegu. Byung-chul had failed two businesses because of wars. As soon as he arrived at Daegu, he headed over to Choseon Brewery to ask for help. Then, he heard a surprising news from the executive board of Choseon Brewery. "The brewery is doing well, and now we have about 300 million won of extra funds. You can use this money to start a new business as you wish." So Byung-chul once again had another chance. He went to Busan, the temporary capital of Korea during the war, and in January 10th, 1951, he established the new Samsung C&T Corporation. Moreover, he got back the debt of 30,000 dollars from Hong Kong. Because the exchange rate was 2,500 won for a dollar, he now had an additional fund of 75 million won. Although in the middle of a war, Samsung C&T Corporation had a financially stable start. They imported sugar and fertilizer and sold them to wholesalers in the Busan International Market. Within a single year, they recorded 6 billion won of sales and 2 billion won of net profit. However, Byung-chul knew that this was not a big profit. Although it was big in number, currency was overprinted and prices kept going up due to the war, and the country's economy was suffering from severe inflation. In fact, in 1951, there was a 531% increase in the wholesale prices in Seoul. At this time, Byung-chul realized how dangerous inflation can be and felt the need to import raw material, manufacture goods, and export the goods, rather than depend on imported goods. And in July 27th, 1953, the Korean War came to a halt due to the ceasefire. And soon enough, Byung-chul established two massive corporations, which were Cheil Jedang and Cheil Mojik. To be continued in the second episode on Samsung... Let's continue from the last video with part 2 of Samsung episode. 1. Cheil Jedang Right after the ceasefire, a lot of companies entered the trading business, and the competition got fierce. Byung-chul had already had a plan to start a manufacturing business, and just in time, the government started its development program for import substitution industry, so it was a perfect timing to enter the manufacturing industry. Before launching his new business, Byung-chul started with market research. And then he thought of sugar, which Samsung C&T Corporation was importing and was making good profit with. At the time, there were no facilities for manufacturing sugar,so sugar supply had to rely on import, and the price was three times that of the global average. Meanwhile, raw sugar was one of the raw materials that the US granted. Byung-chul took advantage of this situation and launched his business. Later, he secured a piece of land in Jeonpo-dong, Busan, to build a sugar factory and imported sugar manufacturing machines from Tanaka Machinery in Japan. And on November 5th, 1953, he established Cheil Jedang. Cheil Jedang's sugar matched imported sugar in quality and was sold at 1/3 the price of imported sugar. However, it is said that when it first came out,
people did not even look at Cheil Jedang's sugar. At the time, there were no products manufactured within the country, so there was a distrust that domestic products were cheap and low-quality. But 6 months later, Cheil Jedang's sugar started gaining popularity. Thanks to that, while sugar supply was 100% dependent on import, it was only 51% in 1954, and 27% in 1955, and dropped to 7% in 1956, achieving the goal of substituting import. And the sugar brand name that Cheil Jedang made in 1965 is Baekseolpyo. Cheil Jedang was separated from Samsung corporations in 1993, and became the CJ Cheil Jedang of today. 2. Cheil Industries. From Samsung C&T to Cheil Jedang, Byung-chul had a series of business success and took joy from raising a new company. And he came to plan another business. He thought of clothes, food, and housing, the basic necessities in life. Cheil Jedang pertained to food industry, and he decided to start a business related to clothing. At the time, the domestic fiber industry was in a dire situation, and the only product they could make was the military blanket. Besides, most suits back then were American soldier uniforms dyed in different colors. It was possible to smuggle tailored British suits through Macau but the price was more than 3 times the average monthly income. So, people wearing these suits were called "gentlemen of Macau",
and the suit became a symbol of affluence. In this situation, Byung-chul hoped that
common people could wear cheap, good-quality suits and on September 15th, 1954, he established Cheil Industries. However, people said, "Could this match the traditional British clothing?" "He forgot how tough the world is after his success at Cheil Jedang." And his efforts were only met with cynical reaction. There were concerns within the company, as well. They were about to make the first fabric factory in the country,
and the board wanted to start at a small scale. However, Byung-chul thought that in order to make quality products
while lowering the manufacturing price they had to build an up-to-date factory of a large scale. Following the government's advice,
they imported machines from West Germany, instead of Japan, secured about 60 acres of land in Chimsan-dong, Daegu, and started building a state-of-the-art factory of the largest scale. And in December, 1955, Cheil industries worsted factory was completed, and by early 1956 the factories for wool, woven fabric, dying,
and manufacturing were completed, as well. While the factories were under construction, staff members
in charge of raw stock dying, manufacturing, textiles were sent to Britain, France, Germany, Italy, etc. and studied relevant technologies for six months. And so, Cheil Industries started manufacturing fabric. And that was "Goldentex". Of course, it was not as good as the British fabric,
but it was still the best wool fabric in the country. Also, it was very cost-efficient at 1/5 the price of British fabric. Byung-chul also opened a tailor shop on the first floor of Cheil Industries building
in Euljiro and started making suits as well. And he combined his favorite flower "rose"
and the European word for cloth "Rasa" and named his tore "Roserasa". However, due to the distrust of domestic products,
he suffered a big deficit in the first year. But he still did not give up
and wore Goldentex suits of Cheil Industries wherever he went. And as time passed, the cheap and good-quality Goldentex gained popularity. After the success of Cheil Industries,
a lot of new fabric companies were established. And now that they were producing enough fabric for domestic consumption, In January, 1958, the government completely banned the import of yarn (worsted) After his success with Cheil Jedang and Cheil industries, people started calling Byung-chul "a family of means", or "Chaebol". 3. Illicit accumulation of wealth In 1956, Syngman Rhee administration sought to privatize banks through public auctioning. At first, they sought to liberalize finances by privatizing government-own bank, but in five auctions there were no bids made. In the end, the government made changes to the terms of sale
and requested corporate owners to buy the bank stocks. So, Cheongwangsa of the time,
which is Samho Corporation of today, came to own the Savings Bank, Daehan Flour, which is famous for "Bear Brand", came to own the Commercial Bank, And Gaepung Corporation came to own Seoul Bank. And Samsung also bought 83% of all shares of Heungop Bank
and 55% of shares of Choheung Bank. and reigned over the financial institutions. Not only the bank stake, but Samsung also bought stock of many companies, including 45% of Ho Nam Fertilizer Factory, 50% of Hankook Tire,
and 70% of Sam Chuk Cement Factory. Then in 19th April 1960, April Revolution for anti-dictatorship and democracy occurred
with students and citizens as a hub, to oppose the rigged election of Syngman Rhee administration. In the end, on 26th April 1960, Syngman Rhee resigned from the president's office. After that, Chung-hee Park who was the major general back
then caused the May 16 coup on 16th May 1961. On 29th May 1961, 11 businessmen were arrested for illegally accumulating wealth, and Byung-chul was the first on the list. In the end, 27 CEOs, including Byung-chul,
ended up paying the additional fee of 37.8 billion and 8 million Hwan, and Samsung paid 10.3 billion and 4 million Hwan, which was 27% of the total. The Hwan we are talking about right now
is worth 1/10 of the Korean Won we are using at the moment. However, during the process of solving the issue of illegal wealth, Byung-chul met Chung-hee Park, the vice-chairman of the Supreme Council
for National Reconstruction, and complained of the unfairness. He said, "The tax rate is still the same as the wartime where we pay
1,200 Hwan when we earn 1,000 Hwan." "If we keep this up, we won't be able to run a business." He also added to give companies a chance to help out the country through investments instead of paying the penalty immediately. In the end, Byung-chul's request is granted through a law called Investment Order. On the other hand, in 1946, Japanese private businessmen voluntarily established an organization called Keidanren(Japan Business Federation), to reconstruct the crashed economy after World War II. After some time, Byung-chul benchmarked it and found an organization called The Federation of Korean Industries
on 16th August 1961 and served as the first chairman. The place you're witnessing is The Federation of Korean Industries. 4. Korean fertilizer As the son of a landlord and the landlord himself, Byung-chul knew that we need fertilizer to enhance agricultural production. But back then, all the fertilizer used in Korea was imported. Byung-chul had the plans to build a fertilizer factory in his mind from years ago, but hasn't started it with all the social turmoils like April Revolution and May 16 coup. Then on 15th October 1963, Chung-hee Park was elected as the 5th president of Korea. President Park requested Byung-chul to build a fertilizer factory,
as the government will offer full support. That's how Byung-chul established Korean Fertilizer Corporation in August 1964 and started planning to build a large factory in Ulsan. During that time, Japan had the largest fertilizer factory
in the world where they produce 180 thousand tons a year, and the Soviet Union owned a factory that produces 300 thousand tons a year. Hence, Byung-chul decided to build a larger factory than those two. After considering many situations, they started to build a Korean fertilizer factory where they can produce 330 thousand tons a year. However, when 80% of the factory was constructed, Kyunghyang Shinmun trumpeted one incident called
Saccharin Smuggling on 15th September 1966. The incident happened 4 months ago on 24th May 1966, where they imported toilet bowls, refrigerators, air conditioners, and telephones along with 55 tons of saccharin(raw material of fertilizer)
while they were importing building materials from Mitsui & Co. of Japan. They resold imported goods and got huge profits,
which was shared by the governors of Korea and Japan. But President Park ordered Supreme Prosecutors' Office to invest the incident thoroughly to show it doesn't have anything to do with Samsung. In the end, Chang-hee, the second son of Byung-chul,
who was serving as the director of Korean Fertilizer Corporation, was arrested. On 22nd September 1966, Byung-chul announced that he would donate 51% of his stock on Korean Fertilizer to the country through a press conference and declared retirement. For your information, because of this incident,
Du-han Kim who was a member of the National Assembly,threw sewage to the governors during the inquiries to the government. But as the twist, Byung-chul's eldest son called Maeng-hee confessed in the memoirs that
he directed the Saccharin Smuggle on the scene and the government of President Park and Samsung conspired it together. In 1994, which is after 30 years
of donating Korean Fertilizer Corporation to the country, Samsung took it over again and named it Samsung Fine Chemical. Later, in 2015, Samsung sold the corporation to Lotte Chemical,
and now it is named LOTTE Fine Chemical. 5. JoongAng Ilbo & TBC After the April Revolution and May 16 coup,
Byung-chul got a stigma of an illegal moneymaker, and he felt the limits to the power that the businessman can have. He thought of becoming a governor, but to contribute to society with greater power than the government, he established a press company. That's how the first commercial broadcasting companies were found,
which were KFOX established on 9th May 1964 and Tongyang TV established in December of the same year. On 22nd September 1965, Byung-chul constructed a modern building
for JoongAng Mass Communication Center in Seosomun-dong, Seoul, and established a new press company
by scouting many journalists from other media. That is what we address as JoongAng Ilbo today. Later, he moved KFOX and Tongyang TV to the new building and combined the two,
resulting in Tongyang Broadcasting Company, a.k.a TBC. Although they started with the goal
to contribute to the harmony and stability of the society, JoongAng Ilbo and TBC got the backlash by taking Samsung's side
during the Saccharin Smuggle Incident. Byung-chul had Jin-ki Hong as a president and run the company
when he first founded KFOX and Tongyang Broadcasting Company. And on April 30, 1967, Byung-chul and Jin-ki entered matrimonial relation. Byung-chul's third son, Kun-hee Lee
and Jin-ki's first daughter, Ra-hee Hong got married. Then on December 12, 1979, Coup d'état of December Twelfth took place where new military force
with Doo-hwan Chun as the central figure caused a military revolt. Doo-hwan Chun government seized power and pushed ahead
with the consolidation of press by taking TBC by force and merging it into KBS. Eventually, on November 30th, 1980, TBC disappeared into history after the farewell broadcast. After that, only JoongAng Ilbo survived and was operated then in 1999, it was separated from Samsung and was acquired by Hong Seok-hyun,
the son of Hong Jin-ki and the president of JoongAng Ilbo at the time. But on December 1, 2011, JTBC was established as it became possible for newspaper publishing companies
to run a General Service Program Providing business. In the spring of 1968, Byung-chul came across his best friend of 40 years
at Anyang golf course, now Anyang Benest golf club, that he made. It was In-Hwoi Koo, the CEO of GoldStar,
which was having its prime time with their electronics business. In 1956, Byung-chul's second daughter, Sook-hee Lee
and In-Hwoi's third son, Ja-hak Koo got married and they also became in-laws. But their relationship got totally broken with a single word that Byung-chul said. Samsung episode 3 will begin right away. 1. The Establishment of Samsung Electronics September 22nd, 1966 Byeongchul took the responsibility for smuggling saccharine and
declared to retire from the financial world. He stepped down from the management front. Instead of Byeongchul, Maenghee Lee, the first born child,
was selected to become the CEO of Samsung Electronics. Even though it seemed like Byeongchul had no work to do, He was comping up with new projects to overcome Samsung's crisis. Byeongchul frequently traveled to Japan to check on different industries and projects. Meanwhile, the electronics industry caught his attention. Byeongchul thought more accurate analysis was needed So he conducted the feasibility test
through the development department setup within the Samsung C&T. As a result, Japan already had one of the world's best electronics technology And Taiwan was starting to develop the electronics industry as well. However, Korea was taking baby steps. In fact, in November 1959, Goldstar company (currently LG Electronics)
was leading the electronics industry by making the first radio, and the first black-and-white tv in August 1966. But other companies were only able to import parts from abroad and assemble them. So despite the overlap with his in-law's business,
Byeongchul decided to pursue the electronics industry. The spring of 1968 Byeongchul told Inhwoi that Samsung will jump into the electronics industry
at Anyang Golf Club, the current Anyang Benest Golf Club. However,
Inhwoi: "Are you going to do it because you make profits?" Inhwoi snapped with anger and yelled at Byeongchul. Byeongchul got embarrassed, so he couldn't say anything and left the golf club. At that time, Jahak, the third son, was working for Samsung. But he decided to work for LG because of this incident.
(Currently, Jahak Koo is the chairman of Ourhome). Byeongchul decided to pursue the electronics industry even it cost him the relationship with Inhwoi (a friend of 40 years and in-law). Byeongchul visited Sanyo Electrics in Japan,
who had 326.8 acres worth of land filled with factories. And he got shocked because of the scale of Sanyo Electrics. Once Byeongchul returned to Korea,
he thought that he needed to build the plants bigger than Sanyo Electrics. So he bought 367.6 acres of land
in Suwon and 571.8 acres in Ulju, Gyeongnam province. In total, 939.4 acres worth of land. January 13th, 1969 Byeongchul established Samsung Electronics Industrial Co., Ltd., and returned to the management front. Actually Samsung Electronics didn't plan to be on its own. At first, Byeongchul wanted to cooperate with Sanyo Electrics in Japan. However, Other existing electronics companies in Korea were against that idea. The project Samsung Electronics was planning to do
is to bring Sanyo Electrics' products and reassemble them. Other companies argued that this should be prevented
to protect the domestic industry. Originally, Byeongchul said Samsung Electronics will produce tv and radio,
and export 85% of them overseas and distribute 15% domestically. However, other companies couldn't take the idea of distributing 15% domestically. Since Byeongchul didn't have a solution,
he decided to meet the president Chung-hee Park and persuaded by saying the electronics industry should be transformed
into a national industry. On the condition that Samsung Electronics will export all products,
they were able to cooperate with Sanyo Electrics. On December 4th, 1969 50% of Samsung Electrics, 40% of Sanyo Electrics, 10% of Sumitomo Corporation, Samsung-Sanyo Electric Co., Ltd. has been established
with an investment of $50 million. Since the original products Samsung made had various issues So Samsung had to maintain a deficit due to the high rate of defectives. But as production systems and technology gradually increased Samsung was able to produce with its own technology. On April, 1973 Samsung Electronics launched its first self-produced product ever. It was Maha 506, 9" transistor black-and-white tv. During that year, tvs produced by Samsung were able to be sold domestically Samsung's sales have increased. In April, 1975 A sensational product was introduced. Samsung's black-and-white Econo tv. So far, to turn on a tv, the electronic gun in the cathode ray tube gets heated
for about 20 seconds before turning it on. But Samsung's Econo tv took 5 seconds to turn on. Due to that, by 1978, Samsung sold 746,000 Econo tv a year. Raising the market share to 40.9%,
Samsung's Econo tv became the number one product in the market. From now on, Samsung was able to compete with LG Electronics. 2. The Prince's Rebellion Byeongchul Lee and Dueul Park had three children. Maenghee Lee, the first born, Changhee Lee, the second born,
and Kun-hee Lee, the third. Maenghee and Changhee helped their father
by being in charge of the management of Samsung affiliates. But because of the "Saccharine Smuggling" incident, Byeongchul decided to retire and let Maenghee to manage some of Samsung affiliates. In fact, Byeongchul intended Maenghee to become the successor of Samsung Group So for 10 years, Byeongchul taught Maenghee a successor class. However, Less than six months after Maenghee has been in the charge, Not only the affiliates he was in charge of, the entire Samsung Group was in chaos. Byeongchul, who had a mindset of "a failed businessman is a criminal,"
who also think a lot of employees directly or indirectly related to Samsung, decided that Maenghee was incapable of managing the Samsung Group. At that time, Changhee was a managing director of Korean Fertilizer. But At Korean Fertilizer, the "Saccharine Smuggling" incident happened Changhee took the responsibility and was sentenced for five years. And after six months in prison, he was released on sick bail. After that, he became the vice president of Cheil Industries and Cheil Jedang. It only looks like that on paper,
but his father, Byeongchul, never acknowledged him as a businessman. In 1969, Byeongchul joined the management front again
after the establishment of Samsung Electronics. But at this time, Changhee was unhappy that Byeongchul returned Saccharine smuggling, tax evasion, smuggling of foreign currency, etc., He reports that his father was directly involved in Samsung's organized economic crime. Lieutenant Colonel Doo-hwan Chun conveyed the letter to the Head of Presidential Guard Jong-kyu Park, which was later conveyed to President Chung-hee Park. He did such thing thinking that he would own Samsung if his dad isn't around. This incident is called the Strife of Princes in Samsung. However, President Park ordered to ignore the incident,
saying it is against the moral laws of the family for a child to slander his father. In the end, the anonymous letter incident went to null. The Strife of Princes came to an end after Changhee Lee, whose plan failed,
was banished from Samsung and was sent to the USA. However, Byeongchul Lee had a feeling that
his eldest son Maenghee is connected to the incident as well because Maenghee was a friend with Doo-hwan Chun, who conveyed the letter. In the end, due to the incident,
Maenghee and Changhee were both expelled from the successor. Then in 1971, they say Byeongchul wrote his will as follows:
The eldest son Maenghee has no will in the business world, and second son Changhee doesn't want to do various business. The third son Kun-hee Lee first declined but later accepted the succession. As I decide the next successor as Kun-hee,
please lead Samsung under his command. But after Byeongchul's death,
the will was conveyed through words in front of his children, so the legal war breaks out for succession. I will tell you the details later. Meanwhile, the second son Changhee left Samsung to go to the USA and started his business called Saehan Media,
where they used to sell video and audiotapes. But in 1977, he ended his life in the USA and came back to Korea. He came back to his father, begging for forgiveness from the bottom of his heart. Then, in 1991, Changhee passed away early due to hematologic malignancy,
addressed as an unfortunate crown prince. 3. Kun-hee Lee, the successor On 9th January 1942, when Byeongchul was running Samsung C&T Corporation and Joseon Brewery, his seventh child and the third son, Kun-hee was born. But as soon as he weaned, Kun-hee was left to be raised
by his grandmother Jae-rim Kwon. And by the time he entered kindergarten,
he came back to live with his family but was feeling awkward for a while as he was away for so long. Due to the outbreak of the Korean War,
the family scattered once again. Then, in 1953, Kun-hee went to study abroad on Byeongchul's suggestion to Tokyo, Japan,
at the young age of grade 5, elementary school. Byeongchul wished his sons to see and learn as much as possible
in the developed country. And as I told you earlier, Maenghee Lee was enrolled
in Tokyo University of Agriculture, and Changhee was enrolled in Waseda University. Kun-hee ended up living with his second brother Changhee
and enrolled in one of the elementary schools in Tokyo. But it wasn't easy for Kun-hee to even make a friend
because he couldn't even speak Japanese properly. And during that time, Kun-hee got to think things deeply. He especially loved watching movies and contemplate his thoughts. Kun-hee literally resided in the theater 3 days a week,
learning Japanese and English through movies. He peculiarly watched the movie too, where he puts himself in the shoes of not only the hero of the movie,
but the supporting roles, the director, and the cameramen as well. As he thought in various people's perspectives,
he learned how to think out of the box and be creative. After 3 years of studying abroad in Japan,
Kun-hee entered Seoul National University Middle School as a grade 2 student and entered Seoul National University High School after graduation. Since then, he participated in the wrestling club and took part in passionately. The reason why he participated in the wrestling club
was thanks to the wrestling match he watched in Japan. He was captivated by the Korean Japanese pro wrestler called Rikidōzan. After starting the wrestling, Kun-hee won the National Competition as Welterweight. Kun-hee was more into sports than academics. With his father's suggestion, he started to play golf
when he was in grade 5 at elementary school. Although he entered Waseda University after graduating high school,
he accepted the fact that he isn't interested in academic works. Instead, Kun-hee entered the Waseda University golf club
and learned the etiquettes and manners of golf in detail. Not only golf, but he enjoyed various sports like rugby, table tennis, and tennis. Due to that, Kun-hee later said something like, "We need to learn freedom from golf without a referee,
teamwork in baseball, and fighting spirit in rugby." After graduating from Waseda University, Byeongchul sent him to The George Washington University business graduate school in the USA, so that Kun-hee can experience the bigger world. Kun-hee ended up learning business as a major,
and mass communication as a minor. However, even in the States, Kun-hee couldn't get his head around academic works. Then, one thing caught his interest, which was the car. During the year and half of his studying abroad in the USA,
he changed the car 6 times. He didn't do that to show off his money, but once he changed the car, he left the profit of $600-700. He was also interested in the structure of the car, so he dismantled and assembled the car by himself, getting the knowledge
about it as much as the experts. Until then, Byeongchul didn't consider Kun-hee as the successor of Samsung. He was rather thinking of inheriting the media house, so he asked Kun-hee to enroll in mass communication minor. In 1966, Byeongchul made Kun-hee join the Tongyang Broadcasting Company
as soon as he came back to Korea. Then in 1968, Byeongchul appointed Kun-hee as the director of JoongAng Ilbo. During all that, in 1969, the anonymous letter incident occurred
where second son Changhee sued his father Byeongchul. Out of blue, Kun-hee, the last born,
got the chance to become the successor of Samsung Group. Following our last video, we are going to continue with Samsung, episode 4. 1. Yongin Farmland Byung-chul who was doing a variety of business frequently traveled abroad. There was a scenery he couldn't help notice on flights back to Korea. That was the bare mountains. Sixty percent of the lands are mountains. During the WWII, Japanese cut down all the trees for war supplies and fuels. As a result, the forests were severely damaged. Byung-chul thought that was very regrettable whenever he saw that scenery. After the Saccharin Smuggling Incident,
he was forced to step down from Samsung's management so he decided to start managing forests. In 1968, Byung-chul's forest management business got designated as a pilot project
of the national land development policy and started its operation. He went around the country
and analyzed soil quality, precipitation, temperature, moisture, and etc. and made a plan to create a farmland
on a 4500k-pyeong-hill located in Mokpo-myeon, Yongin-gun, Gyeonggi-do. The problem is that the ownership of that piece
of land was shared by over 2000 people. It took a long time for him to convince everyone to sell him the land. Since 1971, he planted a variety of seedlings and imported 600 pigs to produce manures needed to grow trees. He built a 50k-pyeong-reservoir that
could hold enough water needed to operate the forestland and raised carps in it while allowing fishing. He also brought a variety of animals from around the world to set up a zoo. He made the country's first lion safari. With all the preparations, on April 18, 1976, the country's first family amusement park opened its door at Yongin Farmland. In 1985, it hosted the country's first flower festival called Rose Festival. And then in 1996, Yongin Farmland changed its name to Everland which is still in use today. 2. Samsung Heavy Industries After establishing Samsung Electronics, Byeong-chul started
to turn his attention other business opportunities. So far, he had been in light industry with Cheil Jedang and Cheil Industries. However, he frequented Japan which dominated the world in heavy industry
and got interested in shipbuilding industry. Byeong-chul always wanted the world's largest size
and this time he wanted to make the world's largest shipbuilding yard. So in May 1973, He went to IHI, Japan's flagship shipbuilder to learn most developed technology. He reached an agreement with IHI to invest 50% of shares to make a joint company. To make the world's largest shipbuilding yard,
he purchased 1500k-pyeong-land in Anjeong-ri, Tongyeong-gun, Gyeongsangnam-do. However, around this time, the Yom Kippur War broke out between Israel and the Arab coalition with Egypt and Syria being the main force. As a result, the oil price skyrocketed and the world economy fell into chaos. This was the First Oil Shock. Because the First Oil Shock. the world's new orders for ships came to a sudden halt. The orders that were already contracted also got cancelled with deposits given up. Byeong-chul couldn't help but to delay
the beginning of the construction of the shipbuilding yard at Anjeong-ri. Meanwhile, in Jukdo, Gyeongnam,
there was a mid-sized shipbuilding yard of Woojin Shipbuilding, the construction of which was halted due to the oil shock. To save this shipbuilding yard left hanging in the air, President Park Chung-hee and banks requested Samsung to take it over. However, Byeong-chul didn't want to take it over
because it wasn't the world's largest which was what he wanted. However, in April 1977, Samsumg took it over at the strong request of the government. In September 1979, the first dock with a capacity of 65k ton was finished
and shipbuilding officially began. This was a yard that Byeong-chul did not intend to establish in the beginning,
but it turned out to be one of the world-class shipbuilding yards. This is what is now known as Geoje Shipbuilding Yard. Meanwhile, the plan to establish a joint company with IHI fell through and was changed into a machine business. This is how Samsumg Heavy Industries' Changwon First Factory
and Changwon Second Factory were established. However, during the IMF crisis in 1997, Changwon First and Second Factories were sold
to Volvo and are now owned by Volvo Group. 3. The beginning of the semiconductor business In 1974, Byeong-chul's eldest son, Kun-hee, was serving
on the board of the TBC broadcasting company. In 1973, after the oil shock, he realized that Korea needed a high-tech business. Right at that time, Kun-hee heard that a company was on the verge of bankruptcy due to the Oild Shock. It was a company called Korea Semiconductors. Semiconductor business requires very detailed work. It must be made in an ultra-clean environment without a single stain or dusk. Because Korean people use chopsticks, he though they could be very clever with hands. He also though that Korean people are good at maintaining hygiene
since they have been living without shoes indoors. Therefore, he told his after Byeong-chul, "Semiconductors are going to be one of the three inventions that would change
the world and the humanities along with corporation and nuclear energy" and "if we want to do electronics businesses, we must also do semiconductors." So he recommended Samsung Group to extend its business to semiconductor business. An initial investment of 5-6 trillion won was needed to start semiconductor business. To make one line of production of semiconductors, it required 1 trillion. Because new semiconductor technology was constantly being developed, it could be a big success if they could develop faster than other companies. However, if they were lagged behind, they could have lost a lot of money.
It was a very risky business. That's why Byeong-chul thought it was too early to get in semiconductor business
and rejected Kun-hee's request. However, in December 6, 1974, Kun-hee used his own personal assets that worth 400 million won
to purchase the 50% of the shares of Korea Semiconductors, thereby acquiring the company. Kun-hee thought that semiconductors were a seed
that he should not let others to take over. The problem is that South Korea was still lacking in technology
when it came to semiconductors. Korea's semiconductor businesses were maintaining themselves with much difficulty. Finally, in December 1977, the company was acquired by Samsung Group and incorporated as Samsung Semiconductors. In January 1980, it was absorbed into Samsung Electronics' semiconductor group. However, because the semiconductor group was lacking in technology, it kept running deficit. It was stigmatized in Samsung Group as a money loser. In the end, Byeong-chul decided to step up himself to save the semiconductor group. First, he sought help from the president
of a Japanese semiconductor company that he knew very well. Afterwards, that president sent his employees
to visit Samsung Semiconductors' factories in Bucheon. However, they didn't give any feedback after visiting the factory. Perhaps, they knew that it would very soon grow into a strong competitor,
so they didn't want to give away any intelligence. "What on earth is semiconductor? How important is it?" Since that day, Byeong-chul started to learn more about semiconductors. Meanwhile, in 1977, when Korea Semiconductors were still regarded as a headache to Samsung Group, Byeong-chul who was in recovery from a cancer surgery he got one year ago suddenly started to show actions that could be interpreted
as designation of the heir of Samsung Group. Normally, the house was passed down to the eldest son. However, Byeong-chul passed his house in Jangchoong-dong to Kun-hee. In February 1979, Kun-hee became the vice-president of Samsung Group. In February 8, 1983, Byeong-chul who studied and thought about semiconductors for a long time called the president of Joongang Ilbo, Hong Jin-ki who was in Tokyo and announced that he was going to push the semiconductor business
no matter what other people said. This news was announced to everyone through Joongang Ilso. This was called "Tokyo Announcement." Samsung's first goal in semiconductor business was to produce 64K D-ram which was the flagship product in the world's D-ram markets. After Samsung Semiconductors got its design plan through Micron, it started to develop its own proprietary technology for the rest of the process. And then, in December 1, 1983, after developing and researching for six months, it surprised the world by succeeding in inventing the 64k D-ram
as the third company in the world able to do so. 4. The second president, Lee Kun-hee Starting from August, 1984, Samsung Electronics started to officially deliver 64k D-ram. However, the world's leading companies like USA's Micron released their 256k D-ram and lowered 64k D-ram's price to compete with Samsung. Samsung Electronics' semiconductor group
ended up making 120 billion won deficits. Byeong-chul already made up his mind
when he jumped into semiconductor business, so he stayed calm and continued with the next stage of research and development. In October 1984, Samsung succeeded in producing 256k D-ram. In July 1986, it developed its own technology
from design to production for 1m D-ram. Around this time, Byeong-chul realized
that his health condition did not allow him to work anymore. In 1976, he underwent a surgery for his gastric cancer.
In 1979, he got a surgery in his brain. Since 1986, he rested at home, taking care of his grandchildren. Therefore, a lot of work was allocated to Kun-hee. In 1986, Samsung, Hyundai and Kumgsung
started a joint project to develop 4m D-ram. However, in fact, each company pursued their own research and development. Semiconductor is a wafer with numerous elements with transistor diode on top of it. Up until 1m D-Ram, it is enough to build the chips with a single layer. But starting from 4m D-ram, as the capacity of semiconductors grow,
a single layer becomes physically impossible. Therefore, in order to make 4m D-ram,
one must choose from two ways of design. First is the trench method which is to dig down from the wafer's surface,
thereby increasing the degree of integration. The second is the stick method which is to build up a new layer on the top of wafer's surface, thereby increasing the degree of integration. Each method has its upsides and downsides. The trench method is safer but it is harder
to see the circuits as digging deeper into the wafer. The procedure is very complicated and therefore less economic. The stack method is easier and more economic;
however, it is difficult to maintain the quality. Kun-hee, in order to choose a method, asked two PhDs in electric engineering
about differences between these two methods. "There is no way out if something goes wrong with the trench method," "but you can see the inside with the stack method." "In other words, it is possible to check the quality with stack method,
but not with the other method." "That is the key difference." They were Doctor Kwon Oh-hyun and Doctor Jin Tae-jae. Noe that Doctor Kwon was the president of Samsung Electronics
from March 2018 to January 2020. He is now an advisor for Samsung Electronics. Doctor Jin was the ninth Minister of Technology and Communication
during President Roh Moo-Hyun's administration. Now he is the president of the Korean Block Chain Association. Anyway, Kun-hee were split for choice after hearing from the two doctors. However, most American and Japanese companies
chose the trench method over the stack method, and so did South Korea's Hyundai Electronics. However, Kun-hee decided to go for the stack method. He thought that it would be possible to fix problems if they ever arose. So Samsung Electronics started to develop its 4m D-ram using the stack method. However, in November 19, 1987, the first president of Samsung Group, Byeong-chul passed away from lung cancer. In December 1, 1987, the third eldest son of Byeong-chul,
Kun-hee became Samsung Group's second president at the age of 46. Kun-hee said at his inauguration ceremony
that he would make Samsung the world's leading company with strong determination. In February 1988, Samsung Electronics succeeded in developing 4M DRAM using the stack method and was able to lessen the gap with the frontier leaders of semiconductor production Year 1988, March 22nd Samsung started with the Samsung Chamber
of Commerce and the 50th anniversary ceremony was held. That day, Gunhee says these words: "I solemnly declare my second start-up will be promising
in creating a giant creature, creating a better tomorrow" This is called the second start-up declaration. Gunhee starts to reorganize Samsung Groups's business structure
according to his ideas. Home appliances, semiconductors, and mobile phone affiliates all combined was the launch of an integrated Samsung Electronics grouped together. Also, he revealed his willingness to enter a new business
in space industry and genetic engineering. Year 1988 Samsung Electronics, which developed 4M DRAM,
received a report on what was used with the stack method. It had a growth nearly 176% times its previous year.
The total sales was KRW 67 billion Net profit limiting cumulative deficit amounted to 160 billion won. And in August of 1990 They also had a successful development of 16M DRAM
almost simultaneously with the world's leading companies The reason Samsung, a latecomer, was successful
in catching up with the frontier and leaders is said to be so because they used what is called the stack method instead of the trench method Samsung seemed to be steadily changing the system
and developing more and more. But, in 1993, June 7th, Gunhee leaves a quote I'm gonna start the 5th episode of Samsung right away. In 1987 after the death of the founder Byung-chul, Samsung group has a huge task of dividing Lee Byung-chul's properties. Especially in 1991, as Chang-hee, Byung-chul's second son dies of blood cancer the offspring of Byung-chul start dividing the prorperties. Byung-chul and Du-eul had 3 sons and 5 daughters. Among them, the 6th offspring Lee Deok-hee
is actually known to be Byung-chul's illegitimate child. Byung-chul also had a Japanese wife. That Japanese gave birth to 1 son and 1 daughter therefore Byung-chul had 10 offspring in total. The first child and first daughter Lee In-hee
took Jeonju Paper Corporation and Goryeo Hospital. In-hee becomes the managing director of Hotel Shilla in 1979 and becomes the advisor of Jeonju Paper in 1983,
taking care of Samsung Group's paper business. So after she inherited Jeonju Paper, she became independent from the Samsung Group in 1991 and changed the name into Hansol, which means Korean pine tree in pure Korean,
and became the Hansol Paper of today. Goryeo Hospital is the Kangbuk Samsung Hospital of today. The second child and first son Lee Maeng-hee
took CheilJedang and Ankuk Fire & Marine Insurance's share. At that time Kun-hee had some share of CheilJedang but to make CheilJedang independent from Samsung Maeng-hee trades his share in Ankuk Fire & Marine Insurance
for Gun-hee's share in CheilJedang. The CJ Group of today is CheilJedang
that became independent from Samsung in 1993. After the death of the third child and second son Lee Chang-hee, the division of property started so Cheil Fiber Co., Ltd. that did a fiber business
went under Saehan Media that Chang-hee founded and the properties were given to his wife and children. The fourth child and second daughter Lee Suk-hee ,
whose husband is from the LG Corporation, didn't get any property based on Byung-chul's request. If he gave properties to Suk-hee,
he thought of it as the same thing as giving money to a competitor. It seems like Lee Soon-hee, the fifth child and third daughter
didn't really get a lot of property either. That's probably why she's one of Byung-chul's offspring who's less famous. But in May, 2005 the Fair Trade Commission made the disguised affiliates self-report. And a company in Asan-si that had a mobile phone parts and accessories business
self-reported and requested to spin-off. This was Youngbo Engineering, founded by Lee Soon-hee's son Kim Sangyong. Youngbo Engineering had a revenue of 400 billion won and grew. However, 90% of Youngbo Engineering's revenue
came from doing business with Samsung Electronics that they were suspected of giving all the work to their own family. Now they changed the company's name into Almus. The sixth child and fourth daughter Lee Deok-hee was an illegitimate child
so she was exempted from getting property. The seventh child and third son Kun-hee took Samsung C&T Corporation, Samsung Electronics,
Samsung Semiconductor & Communications, Cheil Industries, JoongAng Ilbo, Dongbang Life Insurance and becomes the second chairman of Samsung Group. The eighth child and fifth daughter Lee Myung-hee gets Shinsegae. To Lee Tae-whi and Lee Hye-ja who were children
born from his Japanese wife, no property was given. Anyways it seemed like the division of property
in the Samsung family was going well. In May 1988, Kun-hee reported that he inherited about 23.7 billion won
and said that his inheritance tax was about 15 billion won. Everyone was suspicious of the inheritance tax being so little given
that he was the part of the richest family in Korea. Later the National Tax Service found more money that wasn't reported
and in total the inheritance tax became about 17.6 billion won. However this was such a small amount as well. And in October 29th 2007, Lawyer Kim Yongchul who was the law team leader in Samsung Group confesses about slush fund in Samsung. And in 2008 Byung-chul's false-name property was revealed
and the total amount of that was 4.5 trillion won. And for the division of property for this money The first son Maeng-hee requests 710 billion won,
and Suk-hee requests 190 billion won, sues a lawsuit for claiming inheritance in total of requesting 900 billion won. Their siblings acknowledged that they got everything inherited in the past. This lawsuit continues until 2014 and in this process Lee Maeng-hee said
"Kun-hee was always greedy about his own benefits." "His greed that he won't give a single won to us led to this lawsuit" and Kun-hee responded saying
"He's not the person to call me Kun-hee." "He couldn't even look at my face properly.." and criticized each other. And in 2014 Kun-hee wins the lawsuit because the time for the inheritance right ended. Continue with the last part, we'll move on to the video right away 1. Kun-hee loves dogs Back when Kun-hee was still in high school in Japan, there was this one friend that accompanied him
when he was all alone in another country (A picture of Kun-hee with another dog when he was in high school)
It was a Pekingese dog and he raised it at home Years later, he said that the Pekingese dog he had back in Japan
is the first love of his life Reminiscing about the old days, he realized
that humans and animals can have a heart-to-heart talk Kun-hee's love for dogs when he was in Japan
helped promote international recognition of Korea’s native Jindo dogs In fact, on December 3rd, 1962 The Jindo dog is designated as the 53rd 'Natural Treasure'
and is considered to be a pure breed of Korea However, the Fédération Cynologique Internationale (FCI) (not approved)
with the reason of not knowing whether if Jindo really is a pure breed, (Who do you think you are...)
didn't approve that That's why, at that time, the price of a German Shepherd was 100,000-150,000KRW while that of a Jindo was just 5,000-6,000KRW Up until 1969, Kun-hee was determine to help Jindo dog get recognized by FCI He went to Jindo by himself, in 3 days, he visited all the houses which their owners claimed that their dogs were purebred Jindo
He bought 30 Jindo dogs in total Nonetheless, he couldn't find a way to know for sure
if the dogs really were purebred Jindo After doing research and consulting foreign experts as well as animal coaches, he finally had a pair of real purebreds dogs
the number of dogs by then was 150 Finally in 1979, he brought this pair of dogs to FCI and not until then was it possible
to register Jindo as a pure breed of Korea Although, Kun-hee Jindo dogs enthusiast,
it was said that he preferred small dog breeds In 1986, Kun-hee had a YorkShire Terrier Its name was Benji Benji was quite quiet for a Yorkshire Terrier but it was still the dog that Kun-hee loved the most 10 years later, Benji died because of old age At the same time, Kun-hee adopted a male Pomeranian and named it Benji The Pomeranian Benji did live with Kun-hee for a long time In 2009, it died from old age In 2010, he cultivated the somatic
cells of the dead Pomeranian Benji Then Benji 2 and 3 came to life These dogs were raised at Samsung Guide Dog School then were sent to ordinary people to be taken care of In 2017, another Benji was cloned with the same somatic cells
and Benji number 4 was born Just like that, Kun-hee's love for dogs led to Samsung's business In 1992, he established an internationalization planning office in Everland
to promote and get Jindo dogs to be recognized on a global scale As a result, on May 2005, Jindo is certified as the 197th smartest dog in the world by The Kennel Club
(The UK's largest organisation dedicated to the welfare of dogs) On August 1993, he established Guide Dog School
at Samsung Fire & Marine Insurance Each year, they trained 10-12 guide dogs for blind people to adopt for free 2. The beginning of Samsung Mobile There was one thing that that grown simultaneously
with the development of semiconductors, and that is mobile phone In 1983, an American telecommunications company named MOTOROLA
released the world first portable phone named DynaTAC 8000X We will look into MOTOROLA in another video From this point on, Samsung began to jump into the mobile phone business In 1984, Samsung Electronics launched Carphone
this is the first ever mobile communication service in Korea Carphone is literally a communication device
that can be installed and used on a vehicle However, the problem was that its price was too expensive At the time of the launch, the cost of Carphone,
including subscription fee and terminal price was about 4 million KRW It was even more expensive than a Pony 2 car - about 3.47 million KRW Moreover, in that same year, the Korean telecommunications company,
widely known today as KT, established a subsidiary to operate wireless communication services just like Carphone This is Korea Mobile Communication Service Co., Ltd,
or known as SK telecom these days All in all, mobile communication developed immensely in this period In 1988, the year of the 88th Olympic, Samsung Electronics released the first mobile phone in Korea named SH -100 SH -100 weighed about 800g
It was bulky and heavy so it was nicknamed "refrigerator phone" or "brick phone" The price was over the roof
so to be able to sell 2000 units in one year was a challenge In fact, in 1984, The number of people using wireless communication services
was just 2,658 people only Not until 1991 did the number surpass 100,000 of users In 1991, Samsung Logo is printed on mobile phones manufactured by Toshiba then Samsung released SH -500 and SH -600 as OEM products Though being heavily promoted to be half as large as the previous phone, MOTOROLA was such a dominator in the domestic (Korean) mobile phones market, let alone the global market, that Samsung did not even get the recognition
from the citizens inside its own country 3. Change everything except your wife and children In 1993, though Samsung Mobile was still on a decline in terms of sales, other products such as TV were still very well received Then one day, while on a business trip in LA, Kun-hee was so surprised that Samsung's TVs were stuck in the corner of an electronics store They were covered in dust and sold at such a cheap price Moreover on June 4th 1993, Samsung's Design Advisor at the time - Hukuda Damio resigned Hukuda Damio was recruited by Kun-hee himself in 1989 He turned in a report called [Management and Design] In this report, he had taken down, nakedly and realistically,
all of Samsung's problems that he had witnessed in the 4 years time of working there This is also called the Hukuda Report In this report, it was clearly stated that Samsung employees didn’t understand the stand the concept of product design and industrial design Kun-hee, who was in Tokyo at the time, used this report
and held an overnight meeting with all of the executives The next day,when he went to the airport to head to
Frankfurt (Germany) for businesses, a tape, produced by the Samsung's broadcasting team (SBC)
named "accusation program tapes", was sent to him But, Kun-hee was so furious after watching the tape It was a 30-minute long video recording
the assembly lines of Samsung Electronics washing machines There were faults with the plastic lids so they couldn't closed well
so the staffs cut the contact surface with knife In the end, out of anger, Kun-hee called the secretary office in Seoul More than 200 Samsung executives were called to convene at Frankfurt Just like that, on June 7th 1993, at Kempinski hotel, he held an emergency meeting On that very day,Kun-hee declared at the meeting "I'm not joking, I'm putting this in an extreme way!
Except your wives and children, you have to change everything" This is called “the Frankfurt declaration” or "New Management Initiative" After that, he disabled all of the assembly lines
until all problems were gotten rid of 4. Anycall On June 7th 1993, at the meeting in Frankfurt, Kun-hee publicly asked
the Managing Director of Samsung Electronics C&C - Oh Jung-hwan according to the reality that MOTOROLA occupied 90% of
the domestic market at the time, then in the next 3 years, whether Samsung
could stand a chance of accounting for more than 50% Back then Jung-hwan couldn’t say "impossible" so he replied "I'll try with whatever I have" From then, under Jung-hwan's lead, a new mobile phone brand
from Samsung was created in order to catch up with MOTOROLA To name the new brand, they held an internal competition As a result, Jung-hwan's idea was selected The chosen name was Anytell not Anycall Actually, while reading newspaper,
Jung-hwan accidentally read an article about the movie "Henequen" so the name "Anytell" and "Anycall" came up
with the message "calling anywhere, anytime" Jung-hwan preferred "Anycall" a bit more, but it was objected
since it reminded people ofnegative associations of the word "call girl" Afterwards, the name "Anytell" was chosen However, another problem popped up A brand with a similar name "Antel" was already on the market so "Anytell" can't no longer be used Jung-hwan strongly pushed for the name "Anycall"
Eventually, the name chosen for the new brand was "Anycall" On October 1994, Anycall released its first product - SH-770, weighed in at 187g, with maximum 32 hours of usage time and sold at 95,000KRW In fact, in the research process on how to make Samsung different from MOTOROLA, Samsung conducted a survey on the elements
that mobile phone users consider most important They found out that it was the call setup success rate that mattered Thus, Samsung emphasized that 70% of Korea was mountains and promoted that even with such geographical characteristics,
you would still be able to get good signals Let's watch the commercial a bit then move on with video, shall we? After the launch of Anycall, Samsung took up 30% of the market, but its customers had lots of complaints Moreover, Kun-hee, the man with the "Frankfurt Declaration",
constantly emphasized the importance of quality control, was reported that the phones defective rate was 11.8% "Receiving money then giving out faulty products is a fraud" On March 9th 1995, at the Gumi Industrial zone, under the order of Kun-hee,
150,000 Samsung devices sold on the market were retrieved and burned such as cellular phones, cordless phones and fax machines This is like the entire "Anycall" brand get burned Samsung staffs carried mixed feelings
when watching all of the products that they had made gone in flame The total worth of those was 50 billion KRW However, 4 months after the the terrible event, Anycall sales skyrocketed
and top the chart for getting more and more new users At that time, Anycall accounted for 50% of the domestic mobile phone market Samsung won MOTOROLA in the Korean market and gradually reached out for the world 5.Samsung Motors When Kun-hee studied abroad in the USA, cars were his biggest interest So from the late 80s Kun-hee is said to have ordered the secretary office
to come up with plans to enter the automobile business As time fleeted, it was 1993 when The 14th President of Korea, Lee Young-sam won the election After hearing the plan on automobile
business of Samsung, Lee Young-sam strongly objected and stated
"Over my dead body" At the time, the Ministry of Trade, Industry and Energy
ordered every multinational company to reorganized into 3-4 industries to avoid excessive overlapping investment Such was the situation back then... On November 1994, Kim Young-sam suddenly approved Samsung Motors establishment and the reason is that
Samsung Motors may help promote national competitiveness However, it is said that there were several internal lobbies Originally, Samsung Motors' factory is planned to be built
at Gyeongnam Jinhae or Chungnam Dangjin but as a strategy to obtain permission to establish Samsung Motors
the location was changed to Shinho Industrial Zone The land price was expensive and the ground itself is
muddy and weak; overall the position was not really benificial Nobody knows what happened between the two men (the President and kun-hee) but the Samsung Motors project was allowed to be conducted anyway Lastly, in 1995 Samsung Motors was established
Samsung formed a technical alliance with Nissan Motors in Japan Kun-hee ordered Samsung Motors' staffs to produce the best cars So from the beginning, Kun-hee invested too much on facilities Samsung Motors imported equipment and parts from Nissan Japan then the cars were assembled in Korea On march 1998, Samsung Motors began to produce its first medium sized cars named SM5 But, Samsung Motors was directly hit by the
financial crisis that started in 1997 and suffer greatly due to over investment plus the nature of the automobile business that the initial profits will be low They encountered financial crisis Finally in 1999, Samsung Motors applied for court receivership Later, in 2000, Samsung Card cooperated with Renault - a French automobile company
to create Renault Samsung and Samsung Motors took over the passenger car division Renault used Samsung's brand name
and paid Samsung 0.8% domestic sales as royalties I was supposed to continue part 7 in the previous video But after organizing the content… There were a lot of things to talk about Samsung Mobile
so I made a separated video Note that I am not an IT reviewer Those who are interested in IT devices
might feel there’s a lack of content here It would be very helpful if other subscribers can leave your comments below Now let’s start with the Brand Encyclopedia
Samsung Part 7, the phone story At the current time,
mobile telecommunications has developed into 5G But not until the middle of 1990s was
the first generation of telecommunications being put to use, which was the 1G For your reference, 1G is short for 1 Generation 1G is the analog telecommunications standard using
frequency radio signals (What are you saying..) (Hello~?)
Moreover, as this was frequency analog standard,
there were a lot of background noise and network congestions At the time, the most typical telecommunication standard of the world was the GSM standard developed by Europe In order that everyone could use it simultaneously GSM invented the TDMA technology, Time Division Multiple Access This technology divided usage time So that everyone could use the frequency range
at the same time On the other hand, in 1989, An American start-up known as Qualcomm for the first time, succeeded in the experimentation of
the digital technology called CDMA for calls CDMA is short for Code Division Multiple Access The technology used code so those who had the same frequency could access at the same time But at that time, GSM was used globally
so not many people paid attention to CDMA However, ETRI (Electronics and Telecommunications Research Institute)
from South Korea , collaborated with Qualcomm to conduct research on the CDMA technology In 1995, CDMA was successfully commercialized
for the first time in the world At that time, Samsung Electronics adopted the basic technique of CDMA And started to developed the CDMA terminals Until 1996, The first CDMA device in the world, SCH-100 was released Mobile telecommunications transitioned from 1G to 2G In 1997, ("Daddy, happy birthday!") The smallest and lightest phone in the world
The flip phone SCH-200F was brought to life Later, Samsung kept emphasizing on the influential feature in the South Korean terrain and also advertised its new features "Please read the name" (Automatic call following the sound) "Just say your name and the call will be initiated" Voice Auto Dial was the newest technology during that time On the other hand, in 1996 Motorola released StarTAC flip phone which attracted a lot of attention Samsung Electronics later also released the SCH-800 flip phone in 1998 Yet, due to the impact of IMF crisis, it was not well-known But, On the circuit board of SCH-800 at the time you could see the sentence “A hope for success” These lines came from a hope that they would overcome the crisis and the new product would be successful carved by the design specialists And in 1999, SPH-A1000 or also known as "kkakdugi phone" was rolled out At that time, the model from Anycall was the one which left a strong impression on the drama 'School 1', Jang Hyuk In conclusion SPH-A1000 was warmly welcomed
thanks to its small dimension and subtle design Generating a considerable amount of profit. From that time onwards, Samsung Electronics started introducing the first cellulars that were labeled as
“The first in the world” In 1999 the MP3 SPH-M2500 phone was the first one in the world The SPH-WP10 watch phone was
the first one in the world And the TV phone SCH-M220, was the first one in the world In 2000, the CDMA phone with a camera was the first one in the world, SCH-V200 It contained a lot of necessary features for women
such as the period notification feature, The first women-only phone was also released
It was the SPH-A4000, also known as the drama phone In 2001, you just need to click the button and the phone would automatically flip The first completely automatic lip phone,
SPH-A5000 was released In addition, the sound technology was developed Instead of 1, it could play 4 kinds of sound at the same time,
starting from 4 poly phone, then gradually developing into
16 poly, 40 poly, 64 poly, 128 poly. In 2002, the phone screen transitioned from back and white to color Samsung Electronics rolled out a color phone
using TFT-LCD for the first time in the world, SGH-T100 It was the first phone by Samsung Electronics
with sales reaching almost 10 million items In the same year, the world had the first video recording and playing phone It was the SCH-V300 In 2003, the first phone with internal antenna was released, called SCH-E700 The biggest Norwegian newspaper Aftenposten
enthusiastically complimented this device It was considered the Mercedes-Benz in the world of phones,
also known as the 'Benz-phone' In 2004, the first screen-rotating phone was released SGH-V500, also known as the landscape phone
offered watching DMB on the phone Along with that, the first globally roaming phone was released, SCH-A790 Or also known as the world phone, was released At the time, there was a trend of transitioning from flip phone to slider phone Samsung Electronics launched the
slider phone with a blue-black design SGH-D500, also known as the blue black phone 10 million of these phones were sold out On the other hand, 2G telecommunications could only allow making calls 3G was gradually developed; pictures, videos and data
could be shared and received at a high speed The development of 3G marked a new era for smartphones Samsung launched the Haptic series with the full-touch screen And for the first time in the world, Samsung Display produced
a massive number of AMOLED screen This screen technology was used for the phone, helping sustain the sales (AMOLED advertisement from Son Dambi + After School) However at that time, the world didn’t get used to 3G In 2008, A brand new device violently dominating the 3G marketplace was the Apple iPhone 3G The story about Apple will be told in another video Anyway, iPhone used OS, and iOS was conducted research by Apple Later, 3G iPhone became popular in the domestic market It made people exclaim
"So this is what smartphones should look like!" Samsung Electronics competed with iPhone, In June, 2008, the OMNIA smartphone
used Windows Mobile OS from Microsoft, In October 2009, OMNIA2 using
Windows Mobile was in turn released Though the ice-skating queen
Kim Yuna was invited to promote the product The phone was slow; applications were few
and there were a lot of problems Which made it also known as the OMGarbage Actually I used to be an OMNIA2 user... Hah... (sighing) In conclusion, OMNIA series was a complete failure On the other hand, since there was an OS developed by Google, which was Android On October 21, 2008, Google announced the open source of Android Samsung Electronics was based on the Android OS
And they started to develop new smartphones In 2010, Samsung gave up on the Anycall brand And created a brand new smartphone brand,
called Galaxy Series The name Galaxy, is quite similar to its meaning They named it with the hope that it would become a product with limitless features Just like that, Samsung brought to life the first Android phone Galaxy A, followed by Galaxy S 25 million Galaxy S devices were sold,
catching up with iPhone On the other hand, Apple released iPad 1 with the 9.7 inch screen Laying the first step in the PC tablet market Samsung had a completely different strategy,
introducing Galaxy Tab with a 7 inch screen In 2011, the 1.2GHz dual core processor version with a thin and light design, called Galaxy S2 was brought to life Galaxy S2 started to be sold at a crazy speed The sales caught up with iPhone,
which monopolized the smartphone industry at the time On the other hand, while iPhone persisted with the 3.5 inch screen Samsung increased its screen size to 5 inches The pen was used and smartphone features were extended Galaxy Note Series started to be rolled out In 2011, To meet the increasing data transmission volume Which was more developed than 3G, Long Time Evolution,
LTE service was started Starting a new era for the shared use of 3G and 4G In 2012, Galaxy S3, using Exynos 2 Quad
Core Processor was launched 10 million devices were sold after only 50 days 40 million devices were sold after 7 months, marking a huge record Galaxy S4 was launched in 2013 with 10 million devices sold within 1 month The most remarkable feature of Galaxy S4 was the 'S view cover' S view cover left a transparent part on the top half of the screen When you close the phone, you can still see the time and the battery There’s no need to open the cover to see the main information And even receive calls Galaxy S5 was launched in 2014, starting to be provided with
the water-proofed and dust-proofed feature The fingerprint recognition feature was also offered This model also had a sensor to measure heart rate It could also measure heart rate, stress level, etc. In 2015, Galaxy S6 was released From that time onward, Samsung smartphone changed
from non-removable to removable battery which allowed wireless charging Along with that, edge display was used on Galaxy Note Edge for the first time Galaxy S6 Edge was also released Samsung Pay, payment via smartphone touch instead of card was offered for the first time on Galaxy S6 Edge
and started to be commercialized ever since In 2016, Galaxy S7 used the same flat display as S6
And the version with edge display was Galaxy S7 Edge 2 versions were launched On the other hand, on August 19, 2016 The first device in the Galaxy Series
allowed iris recognition And attracted a lot of attention, Galaxy Note7 However, 5 days after it came to sight, there was news saying that
the phone exploded while it was being charged A few days later, a user in the U.S uploaded a YouTube video of a GalaxyNote7 being set on fire On September 2, 2016, Samsung Electronics officially acknowledged its flaws Announcing that there were 24 defective in every 1 million devices
and deciding to stop selling them They announced that they would replace everyone’s phones
at any time and made apologies However, a sequence of explosion still occurred everywhere around the world On September 10, 2016, Samsung Electronics officially recommended
users of Galazy Note7 to stop using the device Later, it was revealed that the battery was the cause of explosion The battery provider for Galaxy Note7 was replaced Even though the battery was replaced, Galaxy Note7 continued to explode Finally on October 10, 2016, U.S telecommunications companies announced that
they would stop selling Galaxy Note7 A day later, Samsung Electronics announced that they stopped producing Galaxy Note7 Galaxy Note7 officially came to an end. This misfortune cost Samsung Electronics almost 7,000 billion won It was known as the ‘Second Self-burning Case’ Since the Galaxy S8 was rolled out in 2017 The flat display version disappeared, the 5.8 inch Galaxy S8 version and the 6.2 inch Galaxy S8+ were released Since the model was launched, AI assistant Bixby started to be offered "Bixby, send today’s pictures to Yoonseon" "14 pictures have been selected" Iris recognition technology was also included In 2018 Galaxy S9 and Galaxy S9+ were also launched
with differences in size Galaxy S9+ offered dual camera on the back However, it was considered not having many new changes compared to Galaxy S8 In 2019, display, camera, battery, etc. are all better compared to Galaxy S9 Galaxy S10 was released with a lot of improvement in its primary features. Camera parameter was increased; triple lens were integrated on the back In addition to the camera, the display screen makes up of most of the front side The Infinity-O display technology was put to use On the other hand, there was one product that was expected
by the entire world even before it was released Smartphone with a foldable screen, Galaxy Fold There were concerns that the screen would be broken when folded Yet Samsung announced that the phone could be folded 200,000 times
without suffering any damage In September 2019, Galaxy Fold was officially released, starting in South Korea As soon as it was released, the phone was sold very fast Everywhere around the world, Users started to test the
durability of Galaxy Fold The U.S newspaper IT Cnet used folding robot And livestreamed to test the opening and closing of the Galaxy Fold However, After opening and closing it for 120,000 times, the screen started to get broken After this experiment, Galaxy Fold received many compliments on its durability The device started to turn unusual at the 119,357th flip With a more brutal experimental condition in comparison with normal folding Whereas the smartphone technology is on the rise Mobile telecommunications kept developing constantly The technology is 20 times faster than LTE,
allowing 2GB video to be downloaded within 1 second 5G has already been developed Of course, it would take a lot of time until it is commercialized But with 5G, AR, auto driving,
Internet of Things, etc. Services that are related to The Fourth Industrial Revolution
have become the reality In 2020, Samsung introduced the next version of Galaxy S10, which was Galaxy S20 Galaxy Z Fold2 is set to come into sight soon. "Samsung" - the theme that is chosen through a theme selection
event and is still going strong up until this day Now it's time for the finale of this series In this part, instead of going into stories about Samsung We will get to know more about the Vice President Lee Jaeyong
and stories surrounding the management rights of Samsung Group. 1. IMF currency crisis
(IMF-the International Monetary Fund) On January 1997, (The biggest bankruptcy in the history)
it all began with the indidence of the national 14th
biggest company-Hanbo Steel went bankrupt (List of companies that went bankrupt in 1997)
Several companies from large to small collapsed On November 21st 1997, Former President Kim Young Sam asked for bail-out from the IMF, That is why this period is called the IMF currency crisis To survive, most companies had to cut down on the number of employees as well as their salaries and implemented restructuring Facing IMF crisis, Samsung sufferred from damages also In 1996, Samsung was the 76th biggest manufacturing company in the world In just one year time, it dropped down to #138 Samsung Group took the lead by establishing a restructuring
committee along with a board of executives to handle the situation Then, 5 days after being established, the committee announced a management
innovation and restructuring plan, in which it was stated that 30% of employees had to be
reduced as well as 50% of the total manufacturing cost along with that was 10% reduction in employees salaries
and 30% in investment In fact, the number of employees was reduced from 170,000 to 110,000 65 affiliates began to be sold till there were only 45 left Samsung Heavy Industries' plant 1 and 2
in Changwon were forced to be sold to Volvo The supermarket chains - Homeplus,
which was established by Samsung C&T, was taken over by Tesco, the largest
distribution company from England As mentioned in the previous video,
Samsung Motors was filing for receivership It was sold to Renault From this time on, the manufacturing of Samsung Electronics & the financial business of Samsung Life became the main focuses Kunhee said "It takes courage to give up the businesses that we
shouldn't do and don't need to do" Mean while, While Samsung was restructuring the whole group something began to happen. 2. Lee Jaeyong's childhood On April 30th 1967, Lee Kunhee (26y/o) and Hong Rahee (23y/o) got married About 14 months later, on June 23rd 1968, their son was born This child was named Lee Jaeyong,
currently the Vice Chairman of Samsung Electronics There is not much information published about his childhood There are barely any photos of him as a child However, in a photo taken at Tongyang when Kun-hee was still the CEO, we can see him when he was a child Later on, Jaeyong went to a top 3 private school
in Seoul, Gyeonggi primary school Then he attended Cheong-un secondary school, where all children
from the upper class families went to, and finally graduated from Gyeongbuk highschool According to his classmates, Jaeyong didn't brag about himself being the only
son of the Samsung family, he was rather modest and studied really hard Jaeyong's performance was pretty excellent, he was the class monitor in secondary and high school His highschool teacher even remark in his record
'clever, quick-witted and active' In 1987, Jaeyong attended Seoul National University,
Department of Asian History. (Because of poor grades?) (Recommendation from grandfather?) (for competitiveness?)
There were many speculations surrounding this choice of him but nothing was publicly confirmed He was still very studious in university Back when he was in 12th grade Jaeyong
started to learn horse riding, In 1989 he won a siver medal in the second
Asia Equestian Championship With such a high spirit for sports, he pass the conscription health examination in June 1990,
Jaeyong received level 1 and served as active duty soldier However, in November 1991, when he was examined again, (Level 5)
he received level 5 due to herniated disc and get an exemption It was explained that when Jaeyong was a national horseback riding athlete, he injured his back since he fell off the horse frequently At the time, in 1991 , at Anse Hospital specialised in obstetrics
and gynecology, but didn't have CT equipment Jaeyong received a certificate verifying herniated disc
and submiited For your reference, Anse Hospital was converted into
a spinal specialized hospital in 1999 (Graduate!)
Anyway, in 1992, Jaeyong finally graduate from university Before that, in December 1991, right before graduation Jaeyong was admitted to Samsung Electronics
in the 32nd recruitment However, (Went to Japan)
he went to Japan to study before he could start to work in the company For this, people thought that Jaeyong wasn't recruited (Keio Univ. Grad. School/Master's Course)
Anywaty, he took master course in business in Keio In 1995, He received a Master's degree with his thesis titled 'A Study on
the Deindustrialization of the Japanese Manufacturing Industry' Then he continued to go to the USA (Havard Business School/Doctor's Course)
He took the Doctor's course at Harvard Business School In 1998, while studying abroad in the States, he met and got married with
Im Seryung, the eldest daughter of Daesang Group President, Im Changwook. However, they negotiated a devorce in 2009 3. eSamsung
