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Samsung Chairman Lee Kun-Hee Dies At 78

Lee Kun-hee was left bedridden by a coronary heart assault in 2014. (Representational)


Samsung Electronics chairman Lee Kun-hee died on the age of 78 on Sunday, the corporate mentioned.

Lee, who turned the South Korean agency into a world tech large, was left bedridden by a coronary heart assault in 2014.

“It’s with nice unhappiness that we announce the passing of Kun-hee Lee, Chairman of Samsung Electronics,” the corporate mentioned in a press release.

“Chairman Lee handed away on October 25 together with his household, together with Vice Chairman Jay Y. Lee, by his aspect.”

“Chairman Lee was a real visionary who remodeled Samsung into the world-leading innovator and industrial powerhouse from a neighborhood enterprise,” the agency mentioned, including: “His legacy will likely be eternal.”

Samsung is by far the largest of the family-controlled conglomerates, or chaebols, that dominate enterprise in South Korea, the world’s Twelfth-largest financial system.

The corporate’s total turnover is equal to a fifth of the nation’s gross home product, making it essential to South Korea’s financial well being.

His son, Samsung Electronics vice chairman Lee Jae-yong, has been on the helm of the corporate for the reason that 2014 coronary heart assault.

Lee was jailed for 5 years in 2017 after being discovered responsible of bribery and different offences linked to former president Park Geun-hye, earlier than being cleared of essentially the most critical expenses on enchantment and launched a 12 months later.

That case is presently being retried.

(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)

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