Chapter 1
Chapter 1
Chapter 1
INTRODUCTION TO STUDY
HISTORY
1938–1970
1970–1990
After Lee, the founder's death in 1987, Samsung Group was separated
into five business groups – Samsung Group, Shinsegae Group, CJ
Group, Hansol Group and the JoongAng Group.[21] Shinsegae
(discount store, department store) was originally part of Samsung
Group, separated in the 1990s from the Samsung Group along with CJ
Group (Food/Chemicals/Entertainment/logistics), Hansol Group
(Paper/Telecom), and the JoongAng Group (Media). Today these
separated groups are independent and they are not part of or
connected to the Samsung Group.[22] One Hansol Group representative
said, "Only people ignorant of the laws governing the business world
could believe something so absurd", adding, "When Hansol separated
from the Samsung Group in 1991, it severed all payment guarantees
and share-holding ties with Samsung affiliates." One Hansol Group
source asserted, "Hansol, Shinsegae, and CJ have been under
independent management since their respective separations from the
Samsung Group". One Shinsegae department store executive director
said, "Shinsegae has no payment guarantees associated with the
Samsung Group".[22]