Samsung Marks 100th Anniversary of Lee’s Birth
By Kim Tong-hyung
Staff Reporter
Samsung Group, the country's largest conglomerate, held a lavish ceremony to commemorate the 100th anniversary of the birth of late group founder, Lee Byung-chull (1910-1987), at the Hoam Art Hall in Seoul Friday.
The who's who of the Korean business community was invited to celebrate the occasion, which counted former and incumbent Samsung executives, leaders of other business groups, politicians and bureaucrats among its 500-name guest list. Members of Samsung's founding family and also representatives from other business groups, such as Hansol, CJ and Shinsegae, which were once part of Samsung, also attended the ceremony.
``My father was able to leave a memorable landmark for this country thanks to the help of the Korean people and support from every part of the society," said Lee Kun-hee, former Samsung chairman and son of the late group founder who succeeded the management helm after his father's death in 1987, in a speech during the ceremony.
``We ask for continued interest and support so that we can carry on with the legacy of our group founder," he said.
The program of the event included video images of the elder Lee's life and business achievements and speeches from his contemporaries, including both Samsung officials, rival businessmen, and policymakers.
Park Tae-joon, the founder of POSCO, the country's largest steelmaker, and also a former prime minister, said he remembered Lee as a man with tremendous business acumen and industriousness, and also an obsession with securing quality talent.
``I thought about what the late chairman would say if he were still alive. He always stressed the importance of securing quality talent and managing for the future to stay ahead of business curves, so he probably would be most interested in finding the right type of people to carry Samsung further into the 21st century,'' Park said.
``Lee would say that the companies of today must find better ways to find and train employees with good work ethics and creativeness and a thirst for tackling challenges.''
Samsung's history traces back to 1938, when Lee, a native of Uiryeong, South Gyeongsang Province, opened a small office at the edge of a marketplace in Daegu and started a business of exporting dried fish and fruits.
By the time of Lee's death in 1987, Samsung had grown into one of the world's 50 largest corporations, with 37 subsidiaries, 75,000-plus employees and annual sales of 14 trillion won.
Now, the group has 64 subsidiaries that employ nearly 30,000 workers and combine for a revenue of around 200 trillion won (about $172.3 billion), roughly one-fifth of the country's gross domestic production (GDP).
The group's biggest unit, Samsung Electronics, is now the world's leading manufacturer of memory chips, liquid crystal displays (LCDs) and flat-screen televisions, and trails only Nokia as the second biggest mobile phone maker.
Samsung is preparing a lavish celebration for the 100th anniversary of Lee's birth, readying a variety of programs including seminars and cultural events.
``Lee's focus on hiring and training top industrial talent and taking the nation's economy to the next level through the success of his business has permanent value as a business philosophy in our society,'' said Lee Hyun-jae, former prime minister and current chairman of the Hoam Foundation.