SAMSUNG Group was founded by Lee Byung-chul in 1938. It is South Korea's largest multinational enterprise group. It is a family business, and its various industries are managed by the Lee family. The group has a wide range of businesses, covering electronics, finance, machinery, chemistry and other fields. It owns many subsidiaries such as SAMSUNG Electronics, SAMSUNG Products, and SAMSUNG Life Insurance, three of which are selected as one of the Fortune Global 500 companies in the United States.
As the group's largest subsidiary, SAMSUNG Electronics has a significant position in the global market. In 2016, SAMSUNG Electronics America took the initiative to recall specific models of washing machines; in the second quarter of 2018, SAMSUNG's mobile phone market share in India reached 23%, ranking second. In April 2020, SAMSUNG announced its withdrawal from the LCD panel market and shut down all LCD panel production lines in South Korea and China at the end of the year.
