Samsung Electronics chairman Lee Kun-hee passes away at 78
Lee Kun-Hee, the chairman behind Samsung’s international rise in the electronics industry, has passed away at the age of 78.
A statement released from the company confirmed the death of Kun-Hee and said he died with his family members by his side along with company chief Lee Jae-Yong in South Korea. The chairman inherited the company from his father in 1987 and grew the company for thirty years, making it the world’s largest maker of televisions, smartphones, and microchips. Kun-Hee was hospitalized since May 2014 after suffering from a heart attack and Jae-Young took over in his place since then.
The company said, “All of us at Samsung will cherish his memory and are grateful for the journey we shared with him. Our deepest sympathies are with his family, relatives, and those nearest. His legacy will be everlasting.”
According to the press reports, Kun-Hee’s reported net worth was at an estimated $16 billion before his death and Samsung’s revenue has contributed to the country’s economy.
Lee Kun-hee (9th January 1942 – 25th October 2020) was a South Korean businessman who served as chairman of the Samsung Group from 1987 to 2008 and from 2010 to 2020. He was also a member of the International Olympic Committee. With an estimated family net worth of US$40.8 billion and the third son of Samsung founder Lee Byung-chul, he and his family were among the Forbes richest people in the world.
Lee was named the world’s 35th most powerful person and the most powerful Korean by Forbes Magazine’s List of The World’s Most Powerful People along with his son Lee Jae-yong. He remained in the hospital until he died in October of 2020
