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#businesshook #samsung #samsungstory Today Samsung is a powerful influence on South Korea's economic development, politics, media, and culture. Samsung is the world's second-largest technology company by revenue, and its market capitalization stood at US $520.65 billion, the 12th largest in the world. It’s also one of the few companies that have its own military department. Samsung also holds a huge market in the Mobile phone sector today. Samsung is the world’s biggest phone manufacturer today by volume and a big competitor to another tech giant, Apple. Samsung’s semiconductor business is also turning into a big source of profit for them, generating over 70% of revenue in 2010 and the market is rising after the pandemic situation. In South Korea, a lot of people think that Samsung's chairman is more influential and powerful than the president of South Korea. This indicated the incredible power Samsung holds in South Korea today. There are many incidents where Samsung showed its power in South Korea in unethical ways. One of the incidents was when former Samsung Chairman Lee Kun-hee was accused of having sex workers and prostitutes around him in 2016. In 2018, the man who recorded Lee Kun-hee was sentenced to 4 years and 6 months of jail time for blackmail and intimidation, by the Supreme court of South Korea.