Survived the Asian Financial Crisis

The Asian Financial Crisis had a profound impact on economies across Asia, leading to significant financial instability and corporate failures. In South Korea, many major companies faced severe challenges, but Samsung managed to navigate the crisis with relative resilience. While other corporations struggled, Samsung's diversified business model and strong market position allowed it to maintain operations and continue its growth trajectory. However, not all segments of the company fared well; Samsung Motor was sold to Renault at a considerable loss, reflecting the difficulties faced in the automotive sector during this tumultuous period. This sale resulted in Renault acquiring an 80.1 percent stake in Samsung Motor, with Samsung retaining a minority interest of 19.9 percent. The restructuring of Samsung Motor highlighted the challenges within the automotive industry, which was particularly vulnerable during the financial crisis.