Samsung C&T Corporation

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), the corporation's CFO, and six independent members.[2] Samsung C&T employs over 17,000 people.

Samsung C&T Corporation
삼성물산
Native name
삼성물산 (三星物産)
TypePublic
KRX: 028260
IndustryConstruction
Trading company
Fashion
Resort
Founded1938 (1938)
FounderLee Byung-chul
HeadquartersSamsung C&T Corporation 123, Olympic-ro 35-gil, Songpa-gu, Seoul, 05510, Republic of Korea
Key people
Choi Chi-Hun, President & (Executive Chairman of the Board of Samsung C&T Corporation)
Young Ho Lee, President & CEO (Engineering & Construction Group)
Jung Suk Koh, President & CEO (Trading & Investment Group)
Keum Yong Chung, Executive Vice President & CEO (Resort Group)
ServicesConstruction and Civil Engineering
Revenue KRW 31.2 Trillion (2018) [1]
KRW 1,748 billion (2018)[1]
Total assets KRW 42.4 trillón (2018)[1]
Number of employees
17,274 (2018)
ParentSamsung
Websitewww.samsungcnt.com

History

In 1975, Samsung C&T was designated by the Korean government as the first general trading company to lead overseas sales operations.[3] 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.[4] 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

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

Building Projects

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,[5] the Petronas Towers and PNB 118 in Malaysia,[6] and the Saudi Stock Exchange Tadawul Tower in Saudi Arabia. The group is also known for building the Cleveland Clinic in Abu Dhabi,[7] as well as Korea's Incheon International Airport,.[8] Giheung Semiconductor Complex, and Raemian Apartment Complexes.[9] The construction of the third terminal of Shahjalal International Airport of Dhaka will be done by Aviation Dhaka Consortium (ADC) consisting Mitsubishi Corporation, Fujita Corporation and the Samsung C&T.[10]

Civil Projects

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,[11] the Riyadh Metro in Saudi Arabia,[12] and the Busan Newport in South Korea.

Power Plants

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,[13] as well as the LNG Terminal in Singapore.[14][15]

Trading & Investment Group

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,[16] Terminal KMS (LNG), and the KST Electric Power Company.

Fashion Group

In the early years, Fashion Group, formerly Cheil Industries, mainly focused on suit and casual wear with its key clothing brands such as Galaxy and Beanpole. Besides, There was sportswear brand such as Rapido. 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 Group

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.[17] 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
  1. "SAMSUNG C&T Company Overview". samsungcnt.com. Samsung. Archived from the original on 2015-10-31. Retrieved 2015-10-24.
  2. "Samsung C&T Corporation, Naver Institutional Group Dictionary: Corporate". goodmorningmedia. Archived from the original on 2019-03-27.
  3. "Samsung C&T Clinches Large Commercial and Residential Project in Malaysia". News World. News World. Retrieved 29 November 2014.
  4. Choi Kyong-ae. "New Samsung C&T to be launched today". Korea Times. Korea Times. Retrieved 31 August 2015.
  5. Jung Yeon-jin. "Advancement of Tall Buildings Samsung C&T Vice bbbbb President Ahmad Abdelrazaq Receives Engineering Award". Business Korea. Business Korea. Archived from the original on 8 December 2015. Retrieved 2 April 2015.
  6. "Petronas Towers". Archi Team. Archi Travel. Retrieved 1 January 2015.
  7. "New Abu Dhabi hospital to receive first patients in 2015". Arabian Business. Arabian Business. Retrieved 19 July 2014.
  8. "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.
  9. Choi Kyong-ae. "Gileum Raemian to go on sale this month". Korea Times. Korea Times. Retrieved 26 October 2015.
  10. Karim, Rejaul; Hasan, Rashidul (7 November 2019). "Shahjalal Int'l Airport: Third terminal now to cost 40pc more". The Daily Star. Retrieved 28 December 2019.
  11. "Merseylink | The Mersey Gateway Project".
  12. "South Korea's Samsung C&T wins $2bn Riyadh Metro order in KSA". Reuters. Al Arabiya. Retrieved 30 July 2013.
  13. "Samsung C&T completes Emal power plant". Construction Week. Construction Week. Retrieved 1 March 2015.
  14. "SAMSUNG C&T CORPORATION AWARDED EPC CONTRACT FOR PHASE 3 EXPANSION OF SINGAPORE LNG TERMINAL". Singapore LNG Corporation. Archived from the original on 26 October 2015. Retrieved 27 August 2014.
  15. "Samsung C&T Corporation | Asia Outlook Magazine". Asia Outlook Magazine. Retrieved 2017-05-29.
  16. "Balkhash Thermal Power Plant".
  17. Kang Seung-woo. "From wild land to fun paradise". Korea Times. Korea Times. Retrieved 21 April 2011.
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