The company said Samsung’s Chairman of Electronics, Lee Kun-hee who converted the South Korean company into a global technology titan, died on Sunday at age 78. Samsung became the world’s largest maker of smartphones and memory chips under Lee’s leadership. Today’s business total turnover equates to one-fifth of Korea’s GDP.
His condition was little revealed, leaving him veiled in mystery even in his last days. “We are very sad that Kun-hee Lee, President of Samsung Electronics, has passed away,” said the company in a statement. Mr Lee never spoke to the media and was a well-known soldier, calling him “the hermit king.”
Lee Kun-hee, the South Korean leader in Samsung Group is 78 years old. He is the dead chairman of the biggest conglomerate. Mr Lee contributed to turning his dad’s small business into an economic force that diversified into fields such as insurance and maritime transport. Samsung Electronics was also a world-leading technology business during his lifetime.
According to Forbes, he was the richest man in South Korea with a net value of nearly 21 billion dollars. Mr Lee had died with his family on Sunday, Samsung said. But he did not indicate exactly the cause of death. The company said in a statement, “We all will remember Samsung and are grateful for the journey that we have shared with him. Mr Lee, who founded Samsung Group in 1938, was Leen Byung-Chul’s third son. In 1968 he entered the family business and, after the death of his father, he took over as chairman.