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Electronics giant Samsung loses leader Lee Kun-hee

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One of the saddest news for the world of technology transcended in the early hours of this Sunday when the departure of Lee Kun-hee, the president of the electronics giant Samsung, who left at the age of 78.

Lee Kun-hee presided over the great company as the third son of the greatest founder of Samsung, Lee Byung-chul, Kun-hee was one of the richest men in South Korea with a net worth estimated at more than 20 billion dollars.

According to various sources, the president of the Samsung group had been admitted to a Seoul hospital since 2014 after going through a heart attack that would have left him incapacitated.

A statement released by the famous electronic brand confirmed the news about the departure of the "richest man in the country," who, according to what they say, was accompanied by his relatives until his last moments.

He left on October 25 accompanied by his family, including the vice president (of the group) Jay Y. Lee ", known as Lee Jae-yong and who, as heir to the empire led by his father, has been in charge of the conglomerate since his parent was bedridden more than six years ago.

The Samsung brand ruled before the departure of Lee Kun Hee. AFP

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Who was Lee Kun-hee?

The tycoon was born in 1942 in Uiryeong county, in the South Gyeongsang province (southeast of the country), after losing his father, he assumed the leadership of the group in 1987.

He was the third son of the founder of the Samsung empire, Lee Byung-chul, the man who turned the conglomerate into one of the most important technology industries, "Samsung Electronics", which led him to be one of the richest men in Korea. of the South with a fortune calculated in 20 thousand million dollars (about 16,860 million euros).

It was in 1993 that President Kun-hee ordered a new restructuring that took Samsung on a new course in which it focused less on sales volume and more on product quality.

Samsung Electronics became one of the largest producers of memory chips in the world, semiconductors, mobile phones and LCD screens among its most demanded products that made it one of the most recognized consumer brands in terms of technology, this from Lee Kun-hee's hand.

In 2014, Lee Kun-hee was hospitalized in an emergency at the prestigious Samsung Medical Center in South Seoul where he remained until his recent departure.

His legacy was remembered in a very special way by Samsung, who spoke out on the performance that the late visionary put on the brand.

President Lee was a true visionary who has transformed Samsung, who made a local company a world leader in innovation and industrial power, "the group said, highlighting the" indelible "legacy left by Lee Kun-hee, considered the richest man in South Korea.

The businessman leaves three children, the boy, Lee Jae-yong (also known in the West as Jay Y Lee) who today represents the jewel of the group. His sisters, Lee Boo-jin and Lee Seo-hyun, are in charge of the hotel business of the large conglomerate, Hotel Shilla Co. as well as the Samsung Assistance foundation, as described by El País.

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What happens from today on after this succession will be of Vital importance both for South Korea and the Samsung brand itself, which has been calculated that today generates 20% of the country's GDP.

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Linda Hopkins

Linda is one of the oldest contributors to Sunriseread. She has a unique perspective with regards to business and technology. She aims to empower the readers with the delivery of well-written news pieces, and most importantly, she always tries to bring the news quicker to the readers.

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