Samsung C&T Corporation

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Samsung C&T Corporation
Samsung Mulsan
삼성물산
Public
Traded as KRX: 028260
Industry Construction
Trading company
Fashion
Resort
Founded 1938; 78 years ago (1938)
Founder Lee Byung-chul
Headquarters Samsung C&T Corporation 123, Olympic-ro 35-gil, Songpa-gu, Seoul, 05510, Republic of Korea
Key people
Chi Hun Choi, President & CEO
Shin Kim, President & CEO (Trading & Investment Group)
Ju Hwa Yoon, President & CEO (Fashion Group)
Bong Yung Kim , President & CEO (Resort & Construction Group)
Services Construction and Civil Engineering
Revenue Increase KRW 5.1 Trillion (2014)[1]
Total assets Increase KRW 9.5 trillion (2014)[1]
Number of employees
12,967 (2014)
Parent Samsung
Website www.samsungcnt.com

Samsung C&T Corporation (Construction & Trading Corporation) (formerly Samsung Corporation) (Korean: 삼성물산), was founded in 1938 as a parent company of Samsung Group to engage in overseas sales operations. Since 1995, it has been largely focused on global engineering and construction projects, trade and investment, fashion and resorts. The corporation is governed by an 11-member Board of Directors, made up of the President and CEOs of its four working groups (Engineering & Construction, Trading & Investment, Fashion and Resort & Construction the corporation’s CFO, and six independent members. Samsung C&T employs just under 13,000 people.

History[edit]

In 1975, Samsung C&T was designated by the Korean government as the first general trading company to lead overseas sales operations.[2] After the company merged with Samsung Construction in December 1995, Samsung C&T began engaging in global business with offices in more than 50 countries.

In September 2015, Samsung C&T merged with Cheil Industries, a Korean textile firm prominent in the fashion industry that was originally acquired by Samsung Everland in December 2013.[3] The resulting Samsung C&T focuses on fashion, food, housing, leisure, and bio businesses with its Engineering & Construction, Trading & Investment, Fashion and Resort & Construction Groups. The merger has established a third pillar for the Samsung Group, adding to its electronics and financial services.

Engineering & Construction Group[edit]

Samsung C&T Engineering & Construction Group specializes in engineering, procurement, and construction.

Building Projects[edit]

Engineering & Construction Group of Samsung C&T is best known for its role in notable skyscraper projects, including the 828-meter Burj Khalifa in Dubai,[4] and the Petronas Towers in Malaysia.[5] The group is also known for building the Cleveland Clinic in Abu Dhabi,[6] as well as Korea’s Incheon International Airport,.[7] Giheung Semiconductor Complex, and Raemian Apartment Complexes.[8]

Civil Projects[edit]

Civil projects by Samsung C&T’s Civil Infrastructure Business Unit include construction of roads, bridges, tunnels, ports, subways, and dams. Some of its most notable projects include the Mersey Gateway in the United Kingdom,[9] the Riyadh Metro in Saudi Arabia,[10] and the Busan Newport in South Korea.

Power Plants[edit]

Samsung C&T’s Plant Business Unit has been involved in the construction of modern power plants—both conventional and nuclear. Its past projects include the UAE Nuclear Power Complex and Emal Power Plant,[11] as well as the LNG Terminal in Singapore.[12]

Trading & Investment Group[edit]

Samsung C&T’s Trading & Investment Group focuses on trading industrial commodities such as chemicals, steel, and natural resources, and organizes projects such as Samsung Renewable Energy (a wind/solar power cluster), the Balkhash Thermal Power Plant,[13] Terminal KMS (LNG), and the KST Electric Power Company.

Fashion Group[edit]

In the early years, Fashion Group, formerly Cheil Industries, mainly focused on menswear and casual wear with its key clothing brands such as Galaxy and Beanpole. Now, Fashion Group has diversified Beanpole into different lines of children’s clothing, outdoor clothing, and accessories. It has also launched new brands in womenswear (KUHO/LeBeige) and in fast fashion (8 Seconds). The Group has been accelerating its entry into the global market, starting with the promotion of a world-renowned brand, Juun.J, which has presented menswear collections at Paris Fashion Week since 2007.

Fashion Group also participates in the development of Korean fashion industry through R&D investment, sponsorship, and fund-raising events. It operates Samsung Fashion Institute and Samsung Design Net, Which is a channel to the latest industry news, trend insights, market reports, and research database. Moreover, in order to support aspiring designers, Fashion Group runs Samsung Fashion Design Fund (SFDF) which selects award-winning designers annually.

Resort & Construction Group[edit]

Founded in 1963, the Resort & Construction Group has expanded its business scope from land development to resort, golf, food and beverage, energy and landscaping, and construction.

The Group’s Everland Resort and high-end golf courses, such as Anyang Country Club and Gapyeong Benest, have been awarded the Innovative Operation for Customer Satisfaction and also received the top enterprise award in the theme park sector by the Korea Standard Association.[14] After fifty years, the Resort Group’s value chain extends from construction and energy to landscaping projects. Samsung Welstory, which has grown to become the largest catering service company in Korea since the service began in 1982, has operated as a separate entity since 2013

References[edit]

  1. ^ a b c "SAMSUNG C&T Company Overview". samsungcnt.com. Samsung. Retrieved 2015-10-24. 
  2. ^ "Samsung C&T Clinches Large Commercial and Residential Project in Malaysia". News World. News World. Retrieved 29 November 2014. 
  3. ^ Choi Kyong-ae. "New Samsung C&T to be launched today". Korea Times. Korea Times. Retrieved 31 August 2015. 
  4. ^ Jung Yeon-jin. "Advancement of Tall Buildings Samsung C&T Vice bbbbb President Ahmad Abdelrazaq Receives Engineering Award". Business Korea. Business Korea. Retrieved 2 April 2015. 
  5. ^ "Petronas Towers". Archi Team. Archi Travel. Retrieved 1 January 2015. 
  6. ^ "New Abu Dhabi hospital to receive first patients in 2015". Arabian Business. Arabian Business. Retrieved 19 July 2014. 
  7. ^ "Samsung C&T Corporation's vice president, head of strategic development, Kwan Young Chung, talks to Airport World about Incheon International Airport and his company's aviation investment strategy". Airport World. Airport World. Retrieved 8 August 2013. 
  8. ^ Choi Kyong-ae. "Gileum Raemian to go on sale this month". Korea Times. Korea Times. Retrieved 26 October 2015. 
  9. ^ "Mersey Gateway Link". 
  10. ^ "South Korea's Samsung C&T wins $2bn Riyadh Metro order in KSA". Reuters. Al Arabiya. Retrieved 30 July 2013. 
  11. ^ "Samsung C&T completes Emal power plant". Construction Week. Construction Week. Retrieved 1 March 2015. 
  12. ^ "SAMSUNG C&T CORPORATION AWARDED EPC CONTRACT FOR PHASE 3 EXPANSION OF SINGAPORE LNG TERMINAL". Singapore LNG Corporation. Retrieved 27 August 2014. 
  13. ^ "Balkhash Thermal Power Plant, Kazakhstan". 
  14. ^ Kang Seung-woo. "From wild land to fun paradise". Korea Times. Korea Times. Retrieved 21 April 2011. 

External links[edit]