Samsung is a household name all over the world. Billions of people daily consume Samsung products, whether it be smartphones and televisions, refrigerators and microchips. But have you ever wondered about who is the owner of Samsung?
Here is everything you need to know about the owner of Samsung, the person who founded it, and who runs it today.
Who is the Owner of Samsung?
The current chairman of Samsung, and the owner, is Lee Jae-yong (also called Jay Y. Lee). He is the grandson of Samsung founder and the Executive Chairman of Samsung since October 2022. He is regarded as the de facto leader of the whole Samsung Group and the most influential figure behind the brand nowadays.
Forbes mentions: “Jay Y. Lee is the executive chairman of Samsung Electronics and leader of the country's biggest conglomerate. He was appointed to the role in 2022, which had been left vacant since the death of his father in 2020.”
However, Samsung is not owned by an individual. It is a publicly traded company, the stock of which belongs to the Lee family, institutional investors, and the general public. But, in spite of all these shareholders, the face and the driver of the company is Lee Jae-yong.
Who Founded Samsung?
Samsung was founded by Lee Byung-chul on March 1, 1938, in Daegu, South Korea. He began with a small trade firm which sold noodles, dried fish and local groceries. The name Samsung is translated to Three Stars in Korean meaning the dream of the founder to develop something big, powerful and durable.
Lee Byung-chul grew Samsung into textiles, insurance and subsequently into electronics in the late 1960s. By the time of his death in 1987 Samsung had already emerged as one of the biggest corporations in South Korea.
The Samsung website mentions: “What we began in 1969 has evolved and expanded through the decades. In Korean, the word ‘Samsung’ means “three stars” and the name carries the founder Lee Byung-chull’s vision for the company – to shine like stars in the sky, large, strong and eternally shining.”
Who is the Current CEO of Samsung?
Samsung is currently headed by its CEO YoungHyun Jun, and he is in charge of the global strategy of the company. He is in charge of the semiconductor, consumer electronics, and mobile communications divisions of Samsung.
The Samsung website mentions: “Dr. Young-Hyun Jun is Vice Chairman & CEO and Head of the Device Solutions (DS) Division at Samsung Electronics. Since assuming the position of the Device Solutions (DS) Division Head in May 2024, he has been leading efforts to strengthen the competitiveness of the semiconductor business, leveraging his business acumen and deep insights in memory development and the electronics industry. He also serves as the Head of the Memory Business, which has considerable influence on Samsung's financial performance.”
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How Did Samsung Become So Big?
The Samsung story is one of the greatest business stories of the new history. A few success factors include:
1. Constant Innovation: Samsung has been putting a lot of resources into research and development. It was one of the first companies that manufactured DRAM chips, big-screen television and foldable smartphones.
2. Diversification: Samsung did not confine itself to a single industry. It started as a trading company and then grew to textile, then electronics, construction and shipbuilding and it continued to move where the growth was.
3. Family Vision: The Lee family has had a clear brand vision over the long term, which has enabled it to remain ahead of the pack even in the tough times.
The story of Samsung, which began with a small noodle-trade store in 1938 up to one of the most valuable technology companies in the world today, is indeed an inspiring story.
