Full of scandal, the story of Samsung boss Lee Kun-hee who died

Jakarta, CNBC Indonesia – The sad news came from the soil of South Korea (South Korea). Samsung Electronics big boss Lee Kun-hee passed away.

He died at the age of 78, Sunday (25/10/2020). An official statement issued by the company.

He died after being hospitalized for a long time. It turned Samsung into a global technology giant.

“It is with great sadness that we announce the passing of Kun-hee Lee, chairman of Samsung Electronics,” the company said in a statement quoted by AFP.

“His legacy will be eternal.”

Samsung is the largest family-controlled conglomerate known as the ‘chaebol’ in South Korea. The company’s overall turnover is equivalent to one-fifth of the country’s gross domestic product (GDP), making it important for the health of the South Korean economy.

The story of the Samsung family is not much different from Korean dramas. Including Lee Kun-hee, who was named by Forbes as the richest conglomerate in Korea with assets of US $ 16.8 billion or the equivalent of Rp. 234 trillion in 2019.

Lee Kun-hee’s business life is full of scandal and drama. In 1996, Lee Kun-hee was convicted of paying bribes to former presidents Chun Doo-hwan and Roh Tae-woo. However, according to The Verge, he was pardoned by President Kim Young-sam in 1997.

In 2007, Samsung’s chief lawyer Kim Yong-chul notified the government about Lee Kun-hee’s bribe funds. Kim Yong-chul told officials that the dark funds belonging to Lee Kun-hee were allegedly used by the executive to bribe prosecutors, judges and political figures in South Korea, the Financial Times reported.

At that time Lee Kun-hee was found guilty of evading US $ 45 million in taxes and fined around US $ 90 million. Initially he was sentenced to three years in prison after a waiting period of five years. However, he was again granted presidential pardon, citing Business insider.

As a result of this problem he resigned from the company in 2008. However, he returned to office in 2011.

Lee Kun-hee has three daughters and one son. But one of his daughters, the youngest, died of suicide in 2005.

Meanwhile, his other son Lee Jae-yong is now the Vice Chairman of Samsung Electronics. Meanwhile, Lee Boo-jin became President of Shilla Hotel and Samsung Everland and Lee Seo-Hyun, became President of the Samsung C&T Fashion Unit.

In 2014, Lee Kun-hee had a heart attack. Two years later, in 2016, Korean media accused Lee Kun-hee of being involved in an affair before he became paralyzed in 2014.

Quoting Forbes, since he reportedly had a heart attack in 2014, there has been no recent news about his health condition. After he fell ill, the Samsung kingdom was held by Lee Jae-yong.

(Head / head)

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