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Home News World

Samsung Chairman Lee Kun-hee passes away

by Janam Web Desk
Oct 25, 2020, 10:17 am IST
in World

Seoul: Chairman of Samsung Electronics Co. Lee Kun-hee passed away at the age of 78, the company announced in a statement.

“Chairman Lee passed away on October 25 with his family, including Vice Chairman Jay Y. Lee by his side. 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.

The Samsung Chairman died at a hospital in Seoul on Sunday after being hospitalised for years following a heart attack in 2014.

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.

Samsung is by far the biggest of the family-controlled conglomerates, or chaebols, that dominate business in South Korea.

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