The chairman of Samsung, Lee Kun-hee has died.
According to reports, Lee Kun-hee died on Sunday, October 25 at age 78.
He had been comatose since suffering a heart attack in 2014 and died in Seoul, South Korean Capital.
“Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local business. All of us at Samsung will cherish his memory and are grateful for the journey we shared with him” Samsung divulged in a statement.
Kim-hee’s son Jay Y. Lee, has been leading the company since becoming Vice Chairman in 2012 and is expected to inherit his father’s chairmanship.
Lee Kun-hee, built Samsung into global smartphones, televisions and computer chips was also convicted twice, for white-collar crimes committed.
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When Mr Lee took the helm at Samsung Group in 1987, after the death of his father and the conglomerate’s founder, Lee Byung-chull, many in the West knew only new the company for its cheap products.
However, Lee Kun-hee pushed the company up the technological giant status. By the early 1990s, Samsung had surpassed many Japanese and American rival companies to become a pacesetter in memory chips.