Lee Kun-Hee, the father of Samsung’s success, dies

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Lee Kun-Hee, who has long been considered the founder of the hugely successful Korean conglomerate Samsung, has passed away. Samsung has announced that Lee died today in the presence of his family at a hospital in the Korean capital Seoul, which is also operated by the group, at the age of 78. Lee had been bedridden since May 2014 after suffering a severe heart attack. Since then, he has been treated continuously and, in the last years of his life, he was no longer able to get out of bed. That’s why Lee’s only son took over the leadership of the Samsung Group. Lee became the second president in Samsung history after his father in 1987 and led the company to global success. The company has been the absolute leader of the television market worldwide since 2006 and was able to take the leadership of the smartphone market years ago. Samsung has also long been the market leader for memory products. In addition, the Korean giant is ahead in terms of screens of all kinds and especially in the mobile device market. Along with the great business success, there also came accusations and investigations into corruption and nepotism. Korean authorities have cracked down on Lee, his family, Samsung, and their myriad subsidiaries. Samsung described “Chairman Lee,” as the former CEO was almost traditionally called, as a true visionary who has turned Samsung from a regional company into a global innovation leader and industrial giant. His legacy will last forever, the company said in a statement.

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