The Samsung Group is a South Korean multinational manufacturing conglomerate headquartered in Samsung Town, Seoul, South Korea. It comprises numerous affiliated businesses, most of them united under the Samsung brand, and is the largest South Korean chaebol. As of 2020, Samsung has the eighth highest global brand value. Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities, and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee's death in 1987, Samsung was separated into five business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group, and JoongAng Group.