Samsung Corporation will change its name to Samsung C&T Corporation. The company is the Samsung Group's global business arm specializing in international trade, export, import, project financing, and construction and development. It will put the name change to a vote at a shareholders' meeting.

The “C&T” in the new name primarily represents "construction and trading." But it also, according to the company, could mean "challenge to the top" and "creativity & tomorrow."

The change comes because the firm concluded that its name was too similar to the mother company and thus confusing to foreign business partners and investors, and also failed to represent its business fields. The firm took over sister company Samsung Engineering and Construction in 1996 and pursues new businesses.

(englishnews@chosun.com )