There's really no such thing as a "proprietary Samsung format."
What model of camera or camcorder is it?
It is a HMX-F90
That camcorder shoots in 1280x720 AVC video, which should be perfectly editable in Premiere Elements.
To get the video from the camcorder to your project, use Add Media/From Camera or Device, as I show in part 2 of my free 8 part Basic Training tutorials.