After closing all of his ventures, Ho-Am traveled through China to draw up new business ideas. On March 1, 1938, he established Samsung Company, based in Su-dong, Daegu, to begin trading goods with neighboring China and Manchuria.
‘Large, Powerful and Everlasting’
The ‘Sam’ in Samsung means three, a favorite number among Koreans, and represents something large, plentiful, and strong. The ‘Sung’ means star and signifies something that is bright, lofty and eternally shining. Together, they represent Ho-Am’s ambition to rebuild a business that would be powerful and endure forever.
‘Do not employ those you doubt, and do not doubt those you employ’
“If you have doubts, do not hire someone. If you manage someone while having doubts, you cannot bring out their strengths. And the hired person will never be able to demonstrate their full potential. Exercise caution when hiring. Once hired, entrust them boldly with responsibilities." Despite reservations from those around him, Ho-Am stuck by his own distinct business philosophy and chose a friend from his days at Waseda University, Lee Sun-Geun, to entrust overall management of the company. This shows that the talent management principles that have become Samsung's tradition began with the company's founding.
Beyond trading, Samsung Company expanded into noodle manufacturing, which helped accelerate the company’s growth. Samsung Company’s success eventually led to Ho-Am’s purchase of the Chosun Brewery in 1939. Established with only 30,000 won in capital, Samsung Company grew rapidly in a short period, becoming the cornerstone of today’s Samsung.
