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Nistem Corp. history
Nistem Corp. company history timeline
Samsung was founded as a grocery trading store on March 1, 1938, by Lee Byung-Chull.
1963 Changed name to Sam Jeong Ind.
1967 Changed name to Sam Kang Ind.
When Nissho Iwai Corporation was founded in 1968, Japan was in the midst of a period of rapid economic growth.
Samsung Electronics was founded in 1969 and quickly became a major manufacturer in the Korean market.During this initial period a burst of growth came from the burgeoning home electronics business and the company began exporting its products for the first time.
In 1971, Nissho Iwai started to trade shoes with Blue Ribbon Sports (BRS), the company which would go on to become Nike, and later established NIKE Japan.
In 1972, Nissho Iwai established a chemical fertilizer manufacturer, Thai Central Chemical Co., Ltd. (TCCC), as well as fertilizer factories in the Philippines and Vietnam.
In 1973, Nissho Iwai concluded a contract for an LNG development project in Indonesia, which was said to be Japan’s largest LNG introduction project.
1, 1977 Lotte Group acquired the right to manage the company
Separate semiconductor and electronics branches were established, and in 1978 an aerospace division was created.
The company also launched a campaign to sell refined uranium ore to the French Atomic Energy Commission and Japanese power companies, as well as acquired the right to distribute Cogéma’s (currently, AREVA) nuclear fuels in Japan in 1980.
In 1980, the company also participated in a joint venture with the Australian company Worsley Alumina, the world’s largest aluminum refinement company.
May 1981 Entered into technical partnership with Fuji, Japan (special oil)
Nissho Iwai also led the industry in the export of rolling stock and in 1982 concluded a contract for the export of 325 New York subway trains.
1985 Entered into technical partnership with Fantasy, United States
Samsung Data Systems (now Samsung SDS) was established in 1985 to serve businesses’ growing need for systems development.
1986 Established the BETERA baking research center
In 1986, Nissho Iwai set up a liaison office in Vietnam— the first for a Japanese company.
May 10, 1987 Introduced the Slim Pack M/C for beverage
May 10, 1987 Consolidated shares (par value rose from KRW 500 to 5000)
1987 Expanded the Oil Vocator facilities
1, 1990 Expanded the bar line
1990 Pain-in capital increase (increased to KRW 3.6B)
1991 Expanded the bar & cream line
1995 Launched take-out food chain (lunch boxes, kimbop)
Despite its success, those years also brought about corporate scandals that afflicted the company, including multiple patent-infringement suits and bribery cases. (In one such case, Lee Kun-Hee was found guilty in 1996 of bribing former president Roh Tae-Woo.
Despite the 1997 financial crisis that affected nearly all Korean businesses, Samsung Electronics was one of the few companies that continued growing, thanks to its leadership in digital and network technologies and its steady concentration on electronics, finances and related services.
1999 Introduced disposable portion cup for food
31, 2003 Achieved KRW 300B in sales
2003 Launched vegetable pre-processing business
2005 Expanded Cheonan factory(for frozen confectionary/fats and oil product lines)
25, 2005 Capital investment in Wellga, China (100%)
Since 2006 the company has been the top-selling global manufacturer of televisions.
In April 2008 Lee was indicted on charges of breach of trust and tax evasion as a part of a scheme, and shortly thereafter he resigned as chairman of Samsung.
In March 2010 Samsung Group executives made Lee Kun-Hee the head of Samsung Electronics, the conglomerate’s largest division.
In 2012, its sales exceeded KRW 7 trillion for the first time in the food industry.
Lee Jae-Yong was sentenced to prison in 2017 for bribing former president Park Geun-Hye.
He served one year and was released in 2018 when his sentence was suspended.
Selected as the official sponsor of the ‘2018 PyeongChang Winter Olympics’.
Samsung introduced a foldable smartphone, the Galaxy Fold, in 2019.
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