Samsung Electronics announced the death of Mr Lee Kun-hee. The Chairman died on Sunday with family by his side. The cause of his death is yet to be released.
However, Mr Lee had been laid up for many years after suffering a heart attack in 2014, causing him to withdraw from public life until his death.
His son Lee Jae-Yong had been acting upon his father’s passing and viewed as the leader in recent years.
AdeniyisBlog reports, Mr Lee Kun-hee as the Chairman of Samsung Electronics made the company grew into one of the world’s biggest tech firms during his lifetime.
He helped build his father’s small trading business into an economic powerhouse, spreading into areas like insurance and shipping.
He was the richest person in South Korea, according to Forbes, with a net worth of nearly $21bn (£16bn).
Mr Lee was the third son of his father, Lee Byung-Chul, who established Samsung Group in 1938. Lee joined the family firm in 1968 and took over as chairman in 1987 after his father’s death.
In the past, Samsung was known to produce low-quality and cheap products. When he took over the leadership, he transformed the company and introduced new development.
He also became famous when he told his employees in 1993: “Let’s change everything except our wives and kids.” The firm then burned it’s entire mobile phone stock, comprising 150,000 handsets.
The company in a statement said, “All of us at Samsung will cherish his memory and are grateful for the journey we shared with him,”.
Image Source: Google
Copyright © 2020. All Right Reserved. AdeniyisBlog