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World Samsung Group titan Lee Kun-hee dies aged 78

06:50  25 october  2020
06:50  25 october  2020 Source:   bbc.com

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Lee Kun - hee , the chairman of South Korea's largest conglomerate, Samsung Group , has died aged 78 . Mr Lee helped to grow his father's small trading business into an economic powerhouse, diversifying into areas like insurance and shipping. During his lifetime, Samsung Electronics also became one of

Lee Kun - hee , the ailing chief of the sprawling Samsung empire, has died at the age of 78 . He has long been South Korea’s richest man since at least 2007. The second-generation heir of South Korea’s largest conglomerate has been in a coma following a heart attack in 2014. Lee grew Samsung since

Lee Kun-hee, the chairman of South Korea's largest conglomerate, Samsung Group, has died aged 78.

a close up of Lee Kun-hee wearing glasses and looking at the camera: Lee Kun-hee helped to grow Samsung Group into an economic powerhouse in South Korea © Reuters Lee Kun-hee helped to grow Samsung Group into an economic powerhouse in South Korea

Mr Lee helped to grow his father's small trading business into an economic powerhouse, diversifying into areas like insurance and shipping.

During his lifetime, Samsung Electronics also became one of the world's biggest tech firms.

He was the richest person in South Korea, according to Forbes, with a net worth of nearly $21bn (£16bn).

Samsung said Mr Lee died on Sunday with family by his side, but did not state the exact cause of death. A heart attack in 2014 had left him living in care.

Samsung Electronics chairman Lee Kun-hee dies at 78

  Samsung Electronics chairman Lee Kun-hee dies at 78 Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said. Under Lee's leadership, Samsung rose to become the world's largest producer of smartphones and memory chips, and the firm's overall turnover today is equivalent to a fifth of South Korea's GDP. Known for a reclusive lifestyle, Lee was left bedridden by a heart attack in 2014. Little was revealed about his condition, leaving him shrouded in mystery even in his final days."It is with great sadness that we announce the passing of Kun-hee Lee, Chairman of Samsung Electronics," the company said in a statement.

Lee Kun - hee was a controversial figure who played a huge part in pushing Samsung from a cheap TV and appliances maker to one of the most powerful technology brands in the world. He became the richest man in South Korea, with the Samsung group contributing around a fifth of the country’s GDP.

Content Highlights: Lee Kun - hee of Samsung Dies at 78 .

"All of us at Samsung will cherish his memory and are grateful for the journey we shared with him," the firm said in a statement.

Mr Lee was the third son of Lee Byung-chul, who founded Samsung Group in 1938. He joined the family firm in 1968 and took over as chairman in 1987 after his father's death.

At the time, Samsung was seen as a producer of cheap, low-quality products. But under his leadership radical reforms were introduced at the company.

Mr Lee became famous for telling employees in 1993: "Let's change everything except our wives and kids." The firm then burned its entire mobile phone stock, consisting of 150,000 handsets.

Samsung Electronics is the world's largest maker of smartphones and memory chips © EPA Samsung Electronics is the world's largest maker of smartphones and memory chips

Mr Lee rarely spoke to the media and had a reputation for being a recluse, earning him the nickname "the hermit king".

Lee Kun-hee, man behind Samsung’s rise to tech titan, dies at 78

  Lee Kun-hee, man behind Samsung’s rise to tech titan, dies at 78 Twice pardoned for crimes including bribing a president, Lee transformed Samsung into a global electronics giant.In a statement, Samsung said Lee, who was 78, died on Sunday with his family members, including his son and de facto company chief Lee Jae-yong, by his side.

Lee Kun - Hee , South Korean businessman who was chairman (1987–2008; 2010– ) of the conglomerate Samsung Group and chairman of its flagship company, Samsung Electronics (2010– ). Under his direction the Samsung Group developed a significant global presence.

한국 50대 부자 중 40%가 자수성가형…최고 부자는 이건희 Samsung Group Chairman Lee Kun - hee is still the richest person in Korea. According to the 2016 Forbes Korea Rich List, Lee

Samsung is by far the largest of South's Korea's chaebols - the family-owned conglomerates that dominate the country's economy.

Chaebols helped to drive South Korea's economic transformation after World War Two, but have long been accused of murky political and business dealings.

Mr Lee was twice convicted of criminal offences, including the bribing of former President Roh Tae-woo.

He stepped down as Samsung chairman in 2008 after he was charged with tax evasion and embezzlement. He was handed a three-year suspended jail sentence for tax evasion but was given a presidential pardon in 2009 and went on to lead South Korea's successful bid to host the 2018 Winter Olympics.

He returned as chairman of Samsung Group in 2010, but was left bedridden by the 2014 heart attack.

Mr Lee's son, Lee Jae-yong, has served jail time for his role in a bribery scandal which triggered the ousting of then-President Park Geun-hye from office in 2017. Last month, prosecutors laid fresh charges against him over his role in a 2015 merger deal.

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