Samsung Chairman Lee Kun Hee was last seen with his wife Ra-Hee Hong in 2012 Olympic games during the Opening Ceremony
The company said,Lee Kun-hee, the chairman of South Korean electronics giant Samsung, died Sunday at the age of 78. He had been comatose since suffering a heart attack in 2014.”Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local business,” Samsung said in a statement. “All of us at Samsung will cherish his memory and are grateful for the journey we shared with him.”Lee’s son, Jay Y. Lee, has led the company since becoming Vice Chairman in 2012 and is expected to inherit his father’s title.The younger Lee previously spent time in jail after being convicted of bribing disgraced former South Korean President Park Geun-hye, who was herself jailed in 2018.Lee is currently subject to further court proceedings for alleged corporate malfeasance.
Samsung was ensnared in the 2016-17 corruption scandal that led to then-President†Park Geun-hye’s impeachment and imprisonment. Its executives, including the younger Lee, were investigated by prosecutors who believed Samsung executives bribed Park to secure the government’s backing for a smooth leadership transition from father to son.
In a previous scandal, Lee Kun-Hee was convicted in 2008 for illegal share dealings, tax evasion and bribery designed to pass his wealth and corporate control to his three children.
The late Lee was a stern, terse leader who focused on big-picture strategies, leaving details and daily management to executives.
His near-absolute authority allowed the company to make bold decisions in the fast-changing technology industry, such as shelling out billions to build new production lines for memory chips and display panels even as the 2008 global financial crisis unfolded. Those risky moves fueled Samsung’s rise.