Lee Byung Chull founded Samsung in Daegu, South Korea as a trading company in 1938. Samsung began moving into other industries such as insurance, securities, and retail in the 1960s. In the late 1960s, Samsung entered the electronics industry and formed several electronics divisions. Samsung is now a large multinational conglomerate composed of many international businesses united under the Samsung brand. It is South Korea's largest company and the world's largest electronics company by revenue.