The new Samsung C&T, the de facto holding company of Samsung Electronics, made its official launch on September 1. The Lee family owns a combined 30.4 percent stake in the new Samsung C&T. Holding a 4.1 percent stake in Samsung Electronics, the new Samsung C&T has become one of the two pillars bracing Samsung Group, along with Samsung Electronics.
With the aim of attaining 60 trillion won in sales and a pre-tax profit of 4 trillion won by 2020, the new Samsung C&T, formed by the merger between Samsung C&T and Cheil Industries, is set to take on the global food, fashion, construction and biotech sectors.
Samsung C&T, which logged 33.6 trillion in sales as of the end of 2014, aims to raise sales by 10 percent annually to notch up 60 trillion won in sales and a pre-tax profit of 4 trillion by 2010.
Under the new vision ‘Global Business Partner & Lifestyle Innovator,’ the merged entity will focus on developing its B2B business in a sustainable manner and securing global leadership and new growth engines. The new Samsung C&T will encompass various businesses, from construction, trading and fashion to food, leisure and biotech.
The new Samsung C&T’s market capitalization is estimated at approximately 27 trillion won, the fourth largest in the nation after Samsung Electronics, Hyundai Motor and Korea Power Corporation. In addition, it has 12,500 employees on the payroll.
Once the registration of the merger is complete on September 4, it will issue new shares on September 14 and relist the following day.
Four CEOs -- Choi Chi-hoon (President & CEO of Samsung C&T Engineering & Construction Group), Kim Shin (President & CEO of Samsung C&T Trading & Investment Group), Kim Bong -yung (President & CEO of Samsung C&T Resort & Construction Group) and Yoon Juhwa (President & CEO of Samsung C&T Fashion Group) --- will take charge of different business areas. Samsung C&T president Choi Chi-hoon is likely to head up the top governing body, the board of director.
