"I Will Build a Global Top-Tier Company," Lee Kun-hee's Pledge... Samsung Realizes It on the World Stage

"Through future-oriented and challenging management, we will grow Samsung into a world-class top-tier company by the 1990s."

On December 1, 1987, Lee Kun-hee, then 46 years old and chairman of Samsung Group, made this resolute pledge at his inauguration ceremony held at Hoam Art Hall in Sunhwa-dong, Seoul.

True to Chairman Lee Kun-hee's commitment and promise, Samsung Group, led by Samsung Electronics engaged in semiconductors, smartphones, and home appliances since 1987, grew into a world-class top-tier company.

As promised, Chairman Lee Kun-hee nurtured Samsung into a top-tier company competing with global giants like Apple. When he inherited the company from founder Lee Byung-chul, Samsung's sales were 17 trillion won; last year, they exceeded 314 trillion won, accounting for 16.4% of South Korea's GDP.

◆Semiconductors, once doubted at the start, now a global No.1 powerhouse

The exterior view of Samsung Electronics Pyeongtaek Line 2 factory, the world's largest semiconductor plant. Photo by Hyunmin Kim kimhyun81@

"Semiconductors will be the seed of Samsung Electronics' future."

When founder Lee Byung-chul declared Samsung's entry into the semiconductor market in 1983, advanced countries and global companies were skeptical about Samsung's entry into the memory semiconductor market. This skepticism stemmed from doubts whether Samsung Electronics, which had just started making color TVs, could compete in the global semiconductor market with its technology.

However, thanks to the strong drive of successor and semiconductor business head Lee Kun-hee, Samsung succeeded in developing the 64K DRAM just six months after entering the market, rapidly closing the technology gap with advanced countries. In 1992, Samsung Electronics succeeded in developing the world's first 64-megabit DRAM, and since then, Samsung Electronics has pursued a 'super-gap' management strategy in semiconductors for over 30 years.

Thanks to Chairman Lee Kun-hee's strong semiconductor drive, investments in talent and facilities have led Samsung to hold an overwhelming global No.1 position in memory semiconductors such as DRAM and NAND flash for 28 consecutive years since the 1990s.

Moreover, Samsung continues to lead the world with firsts such as DRAM using extreme ultraviolet (EUV) lithography and 3D stacked packaging technology for system semiconductors.

According to market research firm TrendForce, Samsung Electronics' market share in DRAM and NAND flash in the second quarter of this year reached 43.5% and 33.1%, respectively, securing an overwhelming No.1 position. In the system semiconductor sector, often called the future of semiconductors, Samsung ranks second after Taiwan's TSMC and is increasing its market share annually toward the top spot.

◆"Burn defective products"…Quality management leads mobile phones to world No.1

Chairman Lee Kun-hee's determination also showed its true colors in the mobile phone sector. In 1993, after declaring the New Management initiative with the phrase "Change everything except your wife and children," Samsung faced criticism in 1995 due to high mobile phone defect rates. In response, Samsung held a bonfire ceremony destroying electronic devices including mobile phones and fax machines worth 15 billion won at the time.

While global mobile phone companies collapsed during the transition from cellular phones to smartphones, Samsung Electronics was able to secure a place among global leaders thanks to Chairman Lee Kun-hee's prioritization of quality management.

Furthermore, Samsung has once again been recognized for both quality and innovation by launching the Galaxy Fold series, the world's first foldable phones, using cutting-edge display technology. According to industry sources, Samsung Electronics' smartphone market share in the second quarter of this year was 22%, ranking first worldwide.

◆Samsung Electronics, the absolute leader in the 21st-century TV market

Among Samsung Electronics' core businesses, not only semiconductors and mobile phones but also the TV sector ranks first globally. In 1975, Samsung Electronics gained attention by launching the 'Econo TV,' the first in Korea to power on within 5 seconds without a long wait.

Samsung Electronics later laid the foundation for becoming the world's No.1 TV market leader with the introduction of LCD TVs in 2006. With the Bordeaux TV launched at that time, Samsung surpassed Sony, which had been the dominant player in the global electronics market.

On its 40th anniversary in 2009, Samsung introduced LED TVs evolved from LCDs, and in 2017 launched QLED TVs, continuously evolving. Focusing on 'QLED 8K TVs' and large-sized TVs, Samsung Electronics plans to establish itself as the absolute leader in the TV market by promoting micro LED TVs in the future. According to IHS Markit and others, Samsung Electronics has held the No.1 position in the global TV market from 2006 through last year.

This content was produced with the assistance of AI translation services.