Categories: News

Samsung: President Lee Kun-Hee dies

The “giant” Lee Kun-Hee, head of Samsung Electronics, died at 78. In 2014 he had survived a heart attack

With great sadness we announce the death of Lee Kun-hee. The president died with his family and Vice President Jay Y. Lee by his side. President Lee was a true visionary who evolved Samsung from a local company to a world leader in innovation and industry. His legacy will be eternal.

With these words a spokesperson for the group Samsung announces the death of their boss. Under his leadership, the company became the largest smartphone manufacturer in the world, an icon, not only in Korea of the South.

Samsung: President Lee Kun-Hee dies

Lee Kun-Hee died at 78 years old, was president of the Samsung group from 1987 to 2008 and from 2010 to 2020, in 2014, appointed the 35th most powerful person in the world and the most powerful Korean on the Forbes list.

Lee joined the Samsung group in 1966 with the Tongyang Broadcasting Companylater he worked for the construction and trading company, also of Samsung. He assumed the presidency on December 24, 1987, two weeks after the death of his father, Lee Byung-chul. Then in 1993, he made a radical change to the group’s philosophy, with the famous phrase “Change everything except your wife and your children”, Lee declared “war” on the giants of the moment such as Sony Corporation, and took a totally different approach to the market vision. We learn it from statement known today as ‘Frankfurt Declaration’ of 1993, in which he gathered all his leaders and called for a direct change. After initial hesitations in sales, the company became the largest television manufacturer in 2006 by beating Sony Corporation. That milestone was just a beginning.

Nicknamed “the hermit king” for determination, confidentiality and lifestyle, as anticipated at the beginning had already survived a heart attack in 2014. With a personal wealth estimated in 21 billion euros, in addition to being considered the actuator of the transformation of Samsung, a leading global giant in electronics, he was also an expert in finance, shipbuilding ed building.

It can be said that Lee Kun-Hee and his family have played a important role mostly economically for the country, also receiving the credit for having contributed to the return to the international scene of South Korea after a long period of ups and downs following the military dictatorship.

Party with the production of the famous ‘noodles’, typical Asian spaghetti, Samsung has instead taken on an important name that alone, today it is worth a fifth of GDP and exports of South Korea. A leap so important that Lee is considered by many to be the creator of the “economic miracle of South Korea. The many successes, however, are also accompanied by several scandals that have seen Lee Kun as protagonist. Scandals like those of nature financial, and allegations of malapolitics for economic models that did not envisage a safeguard for trade union protections. Charges then paid with two convictions for corruption and tax evasion.

It will take its place Lee Jae-yong, son.

Lee Jae-yong is therefore the current one vice president and leader of Samsung Electronics.

Samsung Group:

Lee was a true visionary and his legacy will be eternal

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Published by
Janice J. Mills

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