[이건희 별세] Samsung Electronics’ management performance … 50 times share price, 500 times market capitalization ↑ (Total)

Share price 27,000 won → 1.34 million won, market cap 400,000 million → 197 trillion won

(Seoul = Yonhap News) Reporter Park Jin-hyung = ‘The stock price is 50 times higher, the market capitalization is 500 times.’

This figure is a summary of the remarkable advances of Samsung Electronics during the 27 years that President Lee Kun-hee led Samsung Electronics.

According to Samsung Electronics and the Korea Stock Exchange on the 25th, when Chairman Lee Kun-hee took over as Chairman of the Samsung Group in November 1987, Samsung Electronics’ share price (hereinafter based on ordinary shares) was about 27,000 won.

The market capitalization also stood at 400 billion won, ranking only 10th in Korea’s market capitalization, behind Korea Telecom and Pohang Steel (now POSCO).

Until then, Samsung Electronics was close to number two in the home appliance market, driven by Goldstar Electronics (now LG Electronics).

Annual sales in 1987 were KRW 2.3813 billion, and operating profit and net profit were only KRW 112.7 billion and KRW 34.5 billion.

The biggest driving force that made Samsung Electronics leap from an appliance company to a global information technology (IT) company was the advancement of the semiconductor business led by President Lee.

President Lee established a foothold in the semiconductor business by taking over Korea Semiconductor in 1974, before assuming leadership of Samsung Electronics.

Beginning with the merger of Samsung Semiconductor Communications with Samsung Electronics in 1988, just after taking office in 1992, he succeeded in developing the world’s first 64M DRAM, emerging as a leader in the global semiconductor market.

In particular, in 1993, the fifth year of his inauguration as president, he started a ‘second startup’ pursuing the best quality management in the world through the well-known statement of ‘Change everything except your wife and children’.

Since then, Samsung has continued to grow without giving up the world’s number one position in the memory semiconductor market, and Samsung Electronics’ stock price also began to skyrocket, surpassing 50,000 won in 1994 and 100,000 won in 1995. .

President Lee was not satisfied with the success of the semiconductor business and began to pioneer the mobile phone market.

Since the launch of the first mobile phone in 1994, when the market was rejected due to quality problems, President Lee led the improvement in quality by collecting 150,000 defective mobile phones in 1995 at Gumi’s commercial site and burning them.

As a result, Samsung Electronics’ mobile phones held the largest market share in Korea that year, and since then they have grown globally and have become two mainstays powering Samsung Electronics alongside semiconductors.

In 1997, due to the crisis in the International Monetary Fund (IMF), Samsung Electronics’ share price fell to the level of 30,000 won at the end of December of that year.

However, due to the rapid economic recovery and earnings growth led by semiconductor and mobile phone’Ssang-Coul ‘, it surpassed Korea Telecom in 1999 and ranked first in domestic market capitalization and surpassed the mark. 500,000 won in 2004.

The momentum of Samsung Electronics’ stock price level update, which had been in the range of 500,000 ~ 600,000 won for several years, occurred around 2010.

With Apple’s first iPhone, released in 2007, dominating the global mobile phone market, Samsung Electronics once faced a crisis.

Samsung Electronics, which once withdrew from management due to a special court investigation, returned to the front line of management in 2010 and launched ‘Galaxy S’, which consolidated the group’s capabilities and began to seriously pursue the market for smart phones.

As a result, Samsung Electronics ‘stock price soared, surpassing 1 million won for the first time in January 2011. After the Galaxy S2, Samsung Electronics’ stock price rose to 1.5 million won in December. of 2012 after surpassing Apple in the third quarter of 2011 and becoming number one in the global smartphone market.

Finally, in May 2014, when President Lee resigned from the front line due to illness, Samsung Electronics’ stock price reached 1,335,000 won and the market capitalization reached 196 trillion 644.6 billion won (according to the closing price of May 9, 2014).

Compared to the inauguration of the presidency in 1987, the share price has skyrocketed about 50 times (about 100 times the revised share price reflecting the increase and split in par value) and about 500 times the capitalization of market.

In 2014, consolidated annual sales of 206.2 billion won, operating profit of 25.25 billion won, and net profit of 23.394 billion won, compared to 1987, sales 86.6 times, operating profit 222.1 times, and net profit 678.1 times. It is swollen.

However, many point out that behind such splendid rapid growth, there were also a number of problems such as various illegal activities in the succession process, political relationships and non-union management.

President Lee was sentenced to two years in prison and three years of probation for the ‘6-ball bribery fund case’ in 1996.

In addition, in preparation for the transfer of management rights to the vice president of Samsung Electronics, Lee Jae-yong, his only son, was imprisoned for three years in 2009 for issuing Everland convertible bonds (CB) and Samsung SDS bonds with rights subscription (BW) at low prices in 1996-99. He was also sentenced.

In particular, there are criticisms that the succession process issue, in which President Lee incorrectly placed the first button, continued afterwards, and that as Vice President Lee Jae-yong is still on trial, leaving great uncertainty in the future of the Samsung Group.

“As a business leader, Lee Jae-yong, vice president of Samsung Electronics, has committed various illegal things like noise in the succession process, which is a chronic problem of chaebol,” said Park Sang-in, Chairman of the Citizens Policy Committee. ‘Alliance for Economic Justice. “It is a pity not to set an example.”

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2020/10/25 20:18 Sent