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Building the Entrepreneurial Machine

Building the Entrepreneurial Machine. Jay 제이 Ito Moeko 이토 모에코 Yeji Song 송예지 Eunsoo Shim 심은수. Samgyeopsal. CONTENTS. 01 the Emergence of Chaebols 02 Korea’s TOP 4 Entrepreneurs 2.1 Samsung 2.2 Hyundai 2.3 LG 2.4 SK 30. Chaebol VS Keiretsu. chaebols. Samgyeopsal. 재벌 CHAEBOL.

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Building the Entrepreneurial Machine

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  1. Building the Entrepreneurial Machine Jay 제이 Ito Moeko이토모에코 Yeji Song 송예지 Eunsoo Shim 심은수

  2. Samgyeopsal CONTENTS • 01 the Emergence of Chaebols • 02 Korea’s TOP 4 Entrepreneurs • 2.1 Samsung • 2.2 Hyundai • 2.3 LG • 2.4 SK • 30. Chaebol VS Keiretsu

  3. chaebols Samgyeopsal 재벌 CHAEBOL

  4. chaebols Samgyeopsal

  5. chaebols Samgyeopsal Definition of CHAEBOL : a family-controlled industrial conglomerate in South Korea : a closely held, integrated, yet diversified corporate entity that produces a wide array of product lines for global consumption Origin of CHAEBOL 재財chae wealth, property 벌閥bol faction, clan

  6. Chaebols & families Samgyeopsal Hyundai 현대 - Jung Family, Jung Ju Young (정주영) Samsung 삼성 - Lee Family, Lee ByungChull (이병철) LG Group 엘지 - Koo & Huh Family, Koo In Whoi (구인회)Huh Man Jung (허만정) In the year 2004, after 57 years of partnership, LG Group GS Group

  7. Rise of the chaebols Samgyeopsal • Early 1960s President Park Jung Hee encouraged business • to invest in the productive economy • With other late industrializing countries after World War Ⅱ, Korean firms • had to industrialize by borrowing and improving technology that had • been developed by experienced firms in more advanced economies • Korean firms began their rise by combining reengineered technology • and mass production with competitive labor costs

  8. samsung Samgyeopsal

  9. Samung’s history Samgyeopsal Samsung From 1938 ~ Present

  10. samsung Samgyeopsal Lee Byung-Chull (이병철) • 1938 • - Samsung Trading Company(삼성상회) in Daegu • 1953 & 1954 • - Cheil Sugar & Co. , Cheil Wool Texitle & Co. • 1960s • - Moved into the service sector • End of 1960s total sale: $100 million • 1970s • - Entered Electronics and Heavy Industries • - End of 1970s total sales: $3 billion • 1980s • - Succeed in making 64KDRAM • - Started to make “Worlds First” different types of • semiconductors

  11. samsung Samgyeopsal Lee Kun Hee (이건희) • 1990s • - Digital Frontier Samsung • - With it’s digital and internet technology • Samsung became a “Digital Company” • 2000 – Present • - Represents Korea • - Selected in Top 5 Brand Company • - Take 21% of Korea’s export

  12. samsung Samgyeopsal 124,100,000 EUR 220,120,400,000 KRW

  13. Samsung’s Brand Value Samgyeopsal

  14. Samsung’s AFFILIATES & SUBSIDIARIES Samgyeopsal • Electronics Industries • Samsung Electro-Mechanics • Samsung SDI • Samsung Corning Precision Materials • Samsung SDS • Samsung Techwin • Samsung Mobile Display • Samsung Digital Imaging • Machinery & Heavy Industries • Samsung Heavy Industries

  15. Samsung’s AFFILIATES & SUBSIDIARIES Samgyeopsal • Chemical Industries • Samsung Total Petrochemicals • Samsung Petrochemicals • Samsung Fine Chemicals • Samsung BP Chemicals • FinancialServices • Samsung Life Insurance • Samsung Fire & Marine Insurance • Samsung Card • Samsung Securities • Samsung Investment Trust Management • Samsung Venture Investment

  16. Samsung’s AFFILIATES & SUBSIDIARIES Samgyeopsal • Other Affiliated Companies • Samsung C&T Corporation • Samsung Engineering • Cheil Industries • Samsung Everland • The Shilla Hotels & Resorts • Cheil Worldwide • S1 Corporation • Samsung Medical Center • Samsung Human Resources Development Center • Samsung Economics Research Institute • Samsung Lions • The Ho-Am Foundation • Samsung Foundation of Culture • Samsung Welfare Foundation • Samsung Life Public Welfare Foundation

  17. Hyundai Samgyeopsal 현대 　現代

  18. Hyundai’s History Samgyeopsal 1940s 1947 Establishment of Hyundai Togun by Chung Ju-Yung Chun Ju-Yung November 25, 1915 ― March 21, 2001

  19. Hyundai’s History Samgyeopsal 1960s 1965Hyundai Construction become the first construction company to go overseas ex) → Thailand, South Vietnam, Australia Alaska, and Guam 1968 Hyundai Motors was established

  20. Hyundai’s AFFILIATES & SUBSIDIARIES Samgyeopsal Chung Ju-Yung resided as the president of the Federation of Korean Industries (FKI) - Hyundai Merchant Marine- Hyundai Securities- Hyundai Elevator- Hyundai Logiem- Hyundai Asan- Hyundai U&I- Hyundai Research Institute- Hyundai Investment Network

  21. Hyundai’s History Samgyeopsal Hyundai Motor Company Pony Sonata more upscale midium-sized car →North American Market

  22. Hyundai’s History Samgyeopsal 1990~21C Hyundai kicked off high-technology R&D and restructuring auto, machine ship building, and electronics → over 10% of the total revenue into R&D 1994U.S sales of Hyundai cars topped 125,000, a company record

  23. Hyundai’s history Samgyeopsal • HISTORY • 1998 – Visit to the North Korea with a herd of cows and the launching • of Mt. Kumgang tourism • 1999 – Establishment of Hyundai Asan • 2000 – Former CEO Jung Mong-hun continues inter-Korean • economic cooperation • 2001 – The honorary chairman, Jung Ju-yung passed away and the • completion of Hyundai group restricting • 2003 – Chairman Jung Mong-hun passed away and commencement of • a new system and structure for furtherbreakthroughs under • CEO Hyun Jung-eun • 2004 – Proclamation of Vision 2010.

  24. Hyundai’s History Samgyeopsal Nowadays consisting of 47 companies with 83 branch offices in 46 countries Annual Sales for 1994 ＄49 billion more than 161,000 employees worldwide

  25. LG Samgyeopsal Lucky-Goldstar

  26. LG’S HISTORY Samgyeopsal Background • 1947founded by Koo In-Whoi Started as Lucky Chemical Company Initially manufactured cosmetics. branched out into plastics (combs, toothbrushes, basins…)

  27. LG’S HISTORY Samgyeopsal • 1953 Establishment of Trading company. • 1958 Creation ofGoldstar. • Production of radios, refrigerators and Tvs. • Mergeance of Lucky-Goldstar. • 1967Pioneer in oil refinery ( South korea) • 1995 Renamed LG

  28. LG’S HISTORY Samgyeopsal • 70-80’s

  29. LG’S HISTORY Samgyeopsal Nowadays • 39 Affiliated companies, 39 joint-ventures • 130 Branch offices around the world

  30. lg’sAFFILIATES & SUBSIDIARIES Samgyeopsal

  31. lg’sAFFILIATES & SUBSIDIARIES Samgyeopsal

  32. lg’sAFFILIATES & SUBSIDIARIES Samgyeopsal

  33. LG total Sales Samgyeopsal

  34. LG total Sales Samgyeopsal

  35. LG differentiation Samgyeopsal Differentiation • Personality Cult • Decentralized. • Development of competent professional managers • Major strategic decisions still made in the chairman’s office but individual companies are free to pursue their business as they see fit.

  36. Lg’s spirit and visions Samgyeopsal • A Conservative company • Avoids risky ventures • Group harmony oriented • Motto is « INHWA » • Emphasis on the sustainability • Emphasis on the importance of competitiveness

  37. LG development & strategies Samgyeopsal • Majors efforts and investments on R&D • Centered in the Central Research institutes in taedok • Undertakes research in chemical technologies • R&D complex in Anyang • Focused on electronics research • Agressive production overseas

  38. LG development & strategies Samgyeopsal • Mission LG’s goal is to become number 1 electronics manufacturer in the world

  39. Daewoo group Samgyeopsal DAEWOO Group • Founder : Kim Woo-jung • Founded : 1967 • Defunct : 1999

  40. Daewoo’s past and present Samgyeopsal DAEWOO’s Past & Present Daewoo firstly started aggressive management and had many good effects on the development of South Korea. Also, like Samsung and Hyundai, Daewoo attracted attention from people all over the world by performing a role of enhancement of national interests as a globalized conglomerate.

  41. Daewoo group Samgyeopsal Although Daewoo group is disappeared now, it’s affiliates such as Daewoo Construction, Daewoo Internationals, and Daewoo Shipbuilding & Marine Engineering are still remaining and being acknowledged as international companies from all over the world.

  42. SK GROUP Samgyeopsal • Founder : ChoiJong-geon (최종건) • Founded : 1939 • Headquarters : Seoul, South Korea

  43. SK’s history Samgyeopsal HISTORY • 1953 - Sunkyung Group began when the current founders acquired • Sunkyung Textiles • 1958 – Sunkyung started the Korean first fiber export and • producing the basic polyester thread • 1973 – Sunkyung established Sunkyung Petroleum • 1980 – Sunkyung took over the privatized Korean Petroleum • Public Corporation • 1983 – Sunkyung started to develop overseas oil fields • 1985 – Sunkyung formed the basis of the general information • communications business

  44. SK’s history Samgyeopsal • 1996 – Sunkyung Telecom launched the first commercial CDMA • cellular phone service for the first time in the world • 1997 – Sunkyung changed its name from Sunkyung to SK • 2004 – SK succeeded in launching DMB saterlite • 2006 – SK launched into revitalizing mobile phone market of • 3.5 generation • 2007 – SK provided more advanced services by constructing • nationwide HDSPA network • 2010 – SK Group is now the fourth largest conglomerate(chaebol) • in South Korea

  45. SK’s AFFILIATES & SUBSIDIARIES Samgyeopsal Energy & Chemicals • SK Energy • SK Chemicals • - SKC • SK E&S • SK Gas • - SK Lubricants • Marketing & Logistics services • SK Networks • SK Walkerhill • - SK E&C • SK Shipping • SK Securities • - SK M&C

  46. SK’s AFFILIATES & SUBSIDIARIES Samgyeopsal • Information & Telecommunication • SK Telecom • - SK C&C • - SK Broadband • SK Telesys • SK Telink • SK Communications

  47. SK GLOBAL Samgyeopsal

  48. Criticism Samgyeopsal • There is a criticism about SK group that it has developed itself with a improper way such as a cozy relations between politics and business. When Roh Tae-woo was the president of South Korea, Roh Tae-woo’s daughter and Choi Tae-won, the current CEO of SK group, got married. Because of it, Sunkyung could make the basis to develop the company to the number one oil refining company and telecommunication company in South Korea.

  49. KOREAN CHAEBOLS VSJAPANESE KEIRETU Size ・Annual Sales ・Number of companies ・Number of employees Nature of ownership Centralization of power Professionalization of Management KOREAN CHAEBOLS (Samsung) JAPANESE KEIRETU(Mitsubishi) ＄433 billion 189 400,000 Publicly held Moderately decentralized Clearly established ＄62 billion 50 150,000 Family held Highly centralized Early stage of development

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