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Who is Lee Byung-Chul ?
Lee Byung-chul was born on 12 February 1910. He was a South Korean businessman who founded the Samsung group. Lee founded Samsung in 1938, at the age of 28. He is one of the most successful
businessmen in South Korean history.
Early Life and Education:
Lee was born in Uiryeong County, Gyeongsang province, than part of the Korean Empire. He was the youngest four siblings. His father's name was Lee Chan-woo and his mother’s name was Kwon Jee-lim. He belongs to a wealthy family.
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Education :
He attended Joongdong High School in Seoul and graduated in 1929. In 1930, He enrolled in the Department of
Political Economy at Waseda University in Tokyo but didn’t finish his studies and decided to drop out in 1934.
He entered the Department of Political Economy at Waseda University’s affiliated college in April 1930. In 1970,
his alma mater, Waseda University, nevertheless recognized his achievements and conferred on him an honorary
doctorate. He was also an active member of the Waseda Korean Alumni Association.
In 1982, Lee was awarded an honorary doctorate from Boston College.
Career :
Lee established s trucking business and a real estate business in Daegu on 1 March 1938, which he named Samsung
Trading Co, the forerunner to Samsung. By 1945, Samsung was transporting goods throughout Korea and to other
Countries. The company was based in Seoul by 1947.
Korean War :
Samsung was one of the ten largest “trading companies” when the Korean War started in 1950. With the conquest of Seoul by the
North Korean army, Lee was forced to relocate his business to Busan.
Culture and Art: In 1965, he established the Samsung Culture Foundation to promote a broad range of programs to enrich Korean cultural life.
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Death:
Lee died in 1987 in Seoul. His collection of Korean art is considered one of the largest private collections in the country, featuring a number of art objects that have been designated “National Treasures” by the Korean Government.
1. Perhaps the greatest happiness in the world comes from realizing one's purpose in life.
2. The nation is the basis of everything. The nation must prosper in order for business to prosper and for people to be happy.
3. The most important thing for long-term business success is credit. It is hard to get and it takes time to secure it.
4. Credit is the easiest thing in the world to lose.
5. Nature cannot be deceived.
6. Priority on human resources and human-centered principles is Samsung's philosophy.
7. When a corporation fails to train people as valuable human resources, it is equivalent to… a criminal.
8. If you follow after others like firefighters follow fires, you’re bound to fail.
9. I place 60 % of emphasis on inborn talent and 40 % on education.
10. A smaller number of truly sincere people is better.
11. The worst thing is to neglect correcting faults or mistakes once you become aware of them.
12. To cover up a wrongdoing is a wrongdoing in itself.
