If Samsung's financial level is between the national technology company and the home appliance company, it is time to actively attack the automobile market. That's what Dong Mingzhu of Gree did. In fact, for most people, Hyundai, Kia and Ssangyong are the Korean brands that many people know best. For Samsung, knowing is not enough. In fact, in 1994, Samsung Motor was established.
1994, Li Jianxi, then president of Samsung Electronics Group, founded Samsung Motor Company. Compared with the powerful Samsung Electronics, Samsung's Samsung car seems to be in jeopardy from the day it was born. Founded in 1994, Samsung Motor suffered the worst financial crisis in the world in the fifth year: the quantum foundation led by Soros shook the Asian financial crisis, and the entire Asian economy felt sad. South Korea, which is at the forefront of Asian economy, has experienced an unprecedented crisis, so Samsung has encountered many difficulties during this period. Samsung Auto, the electronics division of Samsung, "absorbed" the huge income and profits of Samsung Electronics. In order to stop loss in time, Samsung was stripped of its non-performing assets.
Due to the elimination of non-performing assets, Lee Kin-hee also compensated Samsung Electronics for the loss of some automobile business caused by dissatisfaction within the group. So at the end of 1998, Samsung contacted and started negotiations with French Renault company, and the final result was Renault. It was agreed to purchase 70% of the shares of Samsung in September of the following year at a price of US$ 565,438+200,000 to establish Renault Samsung. After the acquisition of Samsung Motor Company and successful equity participation, Renault opened a hole in the Korean market. Because of this, Samsung Electronics has the right to speak in Renault Samsung, and then it is the market and product decision. Samsung Samsung has nothing to do with this, everything is controlled by Renault.