Samsung Speeding Up Restructure By Selling Defense Business

Wait a minute, Samsung has a defense business?

According to executives of component suppliers to Samsung's defense and chemical affiliates, Samsung's top brass had been mulling how to get rid of these affiliates as they didn't have much synergy with its key businesses and was underperforming.

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Samsung is responsible for about 20% of South Korea's GDP, matching the 20% share of the South Korean government itself:

These are just some of the things that Samsung has their hands in...

Information Technology
Manufacturing
Mobile phones, televisions, LCD panels
Shipbuilding
2nd largest non-energy company by revenue (behind Wal-mart)
5th largest manufacturing company, by employees
Apparel
Bags/luggage
Real estate
Chemicals
Consumer electronics (including phones, tablets, cameras, computer accessories, laptops, desktop computers, televisions/monitors, projectors)
Electronic components
Medical equipment
Precision instruments/machine tools
Power plants
Semiconductors
Telecommunications equipment
Appliances (including washers/dryers, air purifiers, refrigerators, air conditioners, (de)humidifiers, microwaves, ovens/stoves/ranges, scales)
Construction
Entertainment
Financial services (including credit cards, insurance, banking, consulting, asset management )
Hospitality retail
Weapons
Schools
Private security
Biological engineering/pharmaceuticals

Suffice it to say, Samsung is a HUGE company.

Samsung's top brass had been mulling how to get rid of these affiliates as they didn't have much synergy with its key businesses...

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With robots and drones being the future of defense, I thought their defense and electronic divisions were a good match.

Steve said:

Wait a minute, Samsung has a defense business?

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Of course, they manufacture licensed US military equipment and build equipment for their own home grown stuff, look at the Korea tanks for an example, pretty slick stuff.

In the old days they used to do stuff like make components for old Hawk SAM Systems and other RADARS. LG does the same, I visited their plant in the early 80s while they were rewiring an equipment shelter for us. Back then LG was called GoldStar.

lcpiper said:

Back then LG was called GoldStar.

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Yep Lucky Goldstar.

I forgot the "Lucky" part, I just remember the Korean's pronounced it like "Gom-Sung".

U.S. Government says " you're doing it wrong!"

There are also Samsung branded cars, although Renault makes them.

There are only a few big outfits like Samsung in Korea, LG, Daiwoo and Kia, and Hyundai. These companies handle all most all construction, transportation, auto manufacture, electronics and tech, and military manufacturing to include combat aircraft and warships. The Koreans are busy people.
.

https://www.youtube.com/watch?v=v5YftEAbmMQ

SAMSUNG! TECHWIN!!

I want a Samsung rifle