China. In October 2008, Samick announced its purchase of Seiler, another German piano company, that is generally agreed to compete with Bechstein at both price point and overall quality. The announcement raises questions about the continued viability of relationship between Samick and Bechstein . In late 2009, Samick acquired a 16.5% share of Steinway Musical Instruments. By November 2010, Samick's share in Steinway Musical Instruments increased to 32%. In 2013, John Paulson outbid Samick when Steinway and Sons was taken private. Other businesses In 1975, Samick Pianos, as the company was known at that time, created an archery department and began building bows. In 1990, this division was spun off as Samick Sports Co., Ltd. In 2016, the company was restructured and its name changed to Samick Archery Co., Ltd. Since 1996, its products have been used to attain several Olympic gold medals, mostly by Korean athletes. Besides Olympic-level archery equipment, Samick also manufactures the very popular budget-oriented Sage and Polaris hunting bows. References External links Official website Piano manufacturing companies Guitar manufacturing companies Musical instrument manufacturing companies of South Korea Manufacturing companies established in 1958 South Korean companies established in 1958