The sixties and 70s was seen as the enlargement of Samsung products and Electronics. These businesses were boosted a lot from all the government policies that worked to assist somebody whom would be making a sustainable company inside South Korea. South Korean Government was provided financial help and even prohibited the foreign manufacturers from selling as it reduced competition and enabled Korean industries to develop and grow stronger.
By opting for an extremely smart policy, the government permitted few foreign companies to enter Korean market just if they provide them with technology and innovation which was tremendously useful for Samsung Electronics to be able to manufacture its own product line. Samsung soon became a well known label and occupied a wide and complete range of household appliances, mainly comprising, air conditioners, washing machines, freezers, refrigerators and many others. All these Samsung products made in the foreign market and also sold domestically.
The company started borrowing funds in the early 1970’s and funded into the communications industry. The Samsung products added audio and video equipments as well into the portfolio that made the company broadcast its own television station known as Tongyang Broadcasting Company. During the 70s era, the company shifted into the heavy industry manufacturing ventures such as petrol refineries, home electronics, and shipbuilding. Samsung products portfolio now had several branches such as Samsung Heavy Industries Company, Samsung Precision Company, and Samsung Shipbuilding.
Throughout the eighties, Samsung continued growing in all the industries and by that time it entered the genetic engineering, nanotechnology and aerospace technology, which was further integrated into the Samsung products such as washing machines. During year 1982 till 1987, the production of home appliances and electronics were manufactured in plants located in New York, England and Portugal.
Nowadays, the company still expands and maintains it's position in all the industry markets. Base on its performance, Samsung is classified as one of the five largest and leading industrial giants that operate on the planet.
