Lee Kun-hee was the son of the founder of Samsung and succeeded him as CEO in 1987. Under his leadership, the company grew into one of the world‘s largest manufacturers of smartphones and televisions, among other things.
In 2008, Lee stepped down from his board position following a conviction for tax evasion and bribery. When the president of South Korea canceled the sentence a year later, he returned to head Samsung. In recent years, since he had a heart attack, his duties have been taken over by his son Lee Jae-yong.
Lee Kun-hee passed away today in front of his family, the company writes in a statement. “Chairman Lee was a true visionary, transforming Samsung from a local company into a leading innovator and industrial powerhouse. His legacy is immortal.”
Lee was said to be South Korea’s richest man. According to business magazine Forbes, he had assets of more than $ 20 billion.