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World Lee Kun-hee, builder of global tech giant Samsung, dies at 78

12:25  25 october  2020
12:25  25 october  2020 Source:   washingtonpost.com

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Lee Kun - hee , who built Samsung into a global giant of smartphones, televisions and computer chips but was twice convicted — and, in a pattern that has become typical in South Korea, twice pardoned — for white-collar crimes He was 78 . Samsung announced the death but did not specify the cause.

Lee Kun - Hee , the ailing Samsung Electronics chairman who transformed the small television maker into a global giant of consumer electronics, has died . Lee Kun - Hee had been hospitalized since May 2014 after suffering a heart attack and the younger Lee has run Samsung , the biggest company in

SEOUL —Lee Kun-hee, the man who built Samsung Electronics into a global tech giant, died on Sunday aged 78, with his family members, including his son and successor Lee Jae-yong, at his side, the company said.

Lee Kun-hee wearing a suit and tie: Samsung Electronics chairman Lee Kun-hee answers reporters' questions upon his arrival at the company's headquarters in Seoul Dec. 1, 2010. © Lee Jae Won/Reuters Samsung Electronics chairman Lee Kun-hee answers reporters' questions upon his arrival at the company's headquarters in Seoul Dec. 1, 2010.

The statement from Samsung did not specify the cause of his death, but the ailing leader had been incapacitated for years after his 2014 heart attack after which his son took over running the company. He was also treated for lung cancer in the late 1990s.

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Lee Kun - Hee , the ailing Samsung Electronics chairman who transformed the small television maker into a global giant of consumer electronics, has died . When Lee Kun - Hee inherited control from his father in 1987, Samsung was relying on Japanese technology to produce TVs and was making its

South Korea's Samsung Group Chairman Lee Kun - hee died on Sunday, Samsung said. Lee , who was 78 , helped grow his father Lee Byung-chull's noodle trading business into South Korea's biggest conglomerate, with dozens of affiliates stretching from electronics and insurance to shipbuilding and

“Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local business,” the statement said Sunday.

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Under Lee’s three decades of leadership, Samsung Electronics transformed from a small television maker into the world’s biggest producer of smartphones, electronic displays and memory chips.

Lee was born 1942 in Japanese-occupied Korea. His father, Lee Byung-chul, founded Samsung as a small trading company in the southeastern city of Daegu. After inheriting the company in 1987, Lee Kun-hee embarked on a quality improvement drive to shed Samsung’s reputation for cheap copycat appliances.

“Change everything except for your wife and children,” Lee Kun-hee told an emergency meeting with executives to address what he saw as a “life-or-death situation,” facing the company. Sunday’s statement commemorated his innovation-driven leadership by referring to that moment: “His 1993 declaration of ‘New Management’ was the motivating driver of the company’s vision to deliver the best technology to help advance global society.”

Samsung Chairman Lee, the man who made the company an electronics giant, dies at 78

  Samsung Chairman Lee, the man who made the company an electronics giant, dies at 78 Kun-Hee Lee has been hospitalized for years, but Samsung didn't specify what caused his death."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.

It was Lee Kun - Hee who built the company into the electronics powerhouse of today, becoming synonymous with the rise of South Korea on a In 2009, Lee was found guilty of tax evasion and breach of duty for causing losses at Samsung SDS Co., an information technology services provider

It was Lee Kun - Hee who built the company into the electronics powerhouse of today, becoming synonymous with The mammoth dual listing for Chinese fintech giant Ant Group will be the world's biggest, according to a pricing determined on Friday night, Alibaba founder Jack Ma said on Saturday.

a sign on the side of a building: A Samsung flag and South Korean national flag flutter outside the company's Seocho building in Seoul on Oct. 25, 2020 © Jung Yeon-Je/AFP/Getty Images A Samsung flag and South Korean national flag flutter outside the company's Seocho building in Seoul on Oct. 25, 2020

In 1995, he famously ordered nearly $50 million worth of cellphones and fax machines be set on fire, citing low quality. The bonfire was watched by two thousand Samsung employees wearing headbands saying “quality first,” according to media reports at the time.

Samsung Electronics is the flagship of Samsung Group, a sprawling powerhouse with dozens of affiliates that stretch into shipbuilding and life insurance. Samsung is the largest and most powerful of what are known as “chaebol,” family-controlled conglomerates that dominate the South Korean economy. Many chaebol tycoons, including Lee Kun-hee, were convicted of white-collar crimes but then granted pardons as the Korean government and the public sought to prevent any economic fallout from their absence.

South Korea. Samsung President Lee Kun-hee died

 South Korea. Samsung President Lee Kun-hee died © BAE JONG-HWA / EPA-EFE Lee Kun-hee in Seoul on April 22, 2008. South Korean giant Samsung announced the death of its president on Sunday . Lee Kun-hee passed away alongside his loved ones at the age of 78. Samsung Electronics chairman Lee Kun-hee, who turned the group into a global telecommunications giant, died Sunday at the age of 78, South Korean Group reported.

SEOUL (Reuters) - Lee Kun - hee , the charismatic leader of Samsung Group During his lifetime, Samsung Electronics developed from a second-tier TV maker to the world's biggest technology Lee Kun - Hee dies at 78 : Chairman of Samsung Electronics transformed company into global tech giant .

Lee Kun - Hee helped turn Samsung Electronics into a global tech giant . It is also a major global player in semiconductors and LCD displays today. Even so, he seldom ventured out from the high walls of his private compound in central Seoul to visit the company headquarters, earning him the nickname

Lee Kun-hee himself was convicted twice, but saw his jail sentence suspended by the courts both times, a common practice that helped business tycoons return to their jobs without retribution.

In 2008, he stepped down from the leadership after being accused of managing slush funds and evading tax to pass company shares to his children. He retook the helm two years later following a presidential pardon. His other pardon was in 1995, after he was convicted of bribing a former president.

Lee Kun-hee’s business empire was also involved in a corruption scandal that led to impeachment of former president Park Geun-hye, who was replaced by President Moon Jae-in in 2017. Moon has vowed to end the practice of pardoning convicted corporate tycoons.

De facto Samsung head Lee Jae-yong was sentenced to five years in prison for bribing Park and her confidant to help secure his control over Samsung. He spent a year behind the bars before an appeals court reduced his sentence and released him.

Moon will send condolence flowers to the funeral, his spokesman Kang Min-seok said on Sunday.

Samsung has yet to officially announce succession plans for the opaque three-generation dynasty under which it has operated. During the past six years Lee Kun-hee had been lying in hospital, his only son Lee Jae-yong has been serving as Samsung’s de facto chief.

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