Chairman of Samsung passed away 3
According to Samsung’s announcement, Samsung Group Chairman Lee Kun-hee passed away on October 25 surrounded by his family, but the company did not mention the cause of death.
Mr Lee was the one who told employees to `change everything except your wife and children` as Samsung pushed for innovation and challenged rivals such as Sony.
`Chairman Lee was a true visionary who transformed Samsung into the world’s leading innovator and industrial powerhouse from a local business. His legacy will endure,`
Mr. Lee Kun-hee answered a press interview in Seoul, Korea in 2008. Photo: AP.
Mr. Lee Kun-hee was honored by Time magazine as one of the 100 most influential people in the world in 2005. He took the helm of Samsung Group in 1987, after the death of his father and founder of the group.
He pushed the company to continuously climb the technology ladder.
In the early 1990s, Samsung overtook its Japanese and American rivals to become the leader in memory chips.
Samsung Electronics today is the foundation of the Korean economy and one of the world’s biggest spenders on research and development.
He and his family members used a web of ownership agreements to exert influence over other companies under the Samsung umbrella.
