Lee Byung-chul was a South Korean businessman and founder of the Samsung group in 1938. He started the company with a family loan of 30,000 won to import and export products. During the Korean War he fled Seoul and opened a sugar refinery in Busan. After the war ended in 1953, he returned to Seoul and consolidated as one of the main entrepreneurs under South Korea's president Syngman Rhee. At the time of his death in 1987 at age 77, Samsung was the third largest business conglomerate in South Korea.

1. LEE BYUNG – CHUL
He was a South Korean businessman, founder of
Samsung group.
BIOGRAPHY
He was born in 1910. In 1929 heentered Waseda University but two years
later he left his studies to return to Korea and focused on family business.
He was married to Park Du – eul and had ten children.
Lee was an enthusiast of calligraphy and Korean art.
He died in 1987 in Seoul, at age 77, a victim of lung cancer.
CAREER PATH
In 1938, Lee inaugurated in Daegu the company Samsung, dedicated to the
import and export of products thanks to a family loan of 30.000 won.
In 1948 heformed an alliance with businessman Cho Hong- jai to create
Samsung Mulsan ( now Samsung C& T) subsidiary, dedicated to trade and
construction.
During the Korean war, Lee fled Seoul to settle in Busan, wherehe opened
the sugar refinery Cheil Jedang ( now CJ group).

2. The presence of the American troops in the south of the peninsula allowed
him to restarthis commercial activity. At the end of the conflict, in 1953, he
was able to re-establish himself in the capital and consolidated as one of the
main entrepreneurs under the governmentof Syngman Rhee. He was the
firstpresident of the Federation of Korean Companies.
Years later, under a new economic model, Samsung had to diversify in
exchange for state aid. The divisions were: Samsung Electronics ( 1969) and
Samsung Heavy Industries ( 1974).
Between 1966 and 1968 had to temporarily leave the presidence when being
accused of smuggling saccharine.
At the time of his death, Samsung was the third largest chaebol in business
volume behind Hyundaiand Daewoo.
His third son was the successor to Samsung