Samsung chairman passes away at 78 with a legacy of success and corruption

On October 25, Samsung Workforce introduced that Samsung’s long-time chairman, Lee Kun-hee, died at 78, with family members through his facet.

Whilst the corporate has no longer showed the precise reason behind loss of life, Lee has had an extended historical past of center issues. Particularly, he needed to be hospitalized for years after experiencing a center assault in 2014.

As Samsung chairman since 1987, Lee led the corporate in its meteoric upward push to changing into an international powerhouse. All over his tenure, Samsung closely invested in R&D and altered its complete product line. From the 1980s to the early 2000s, the corporate transitioned from being an inexpensive TV and equipment emblem to being one of the most best producers in semiconductors and show applied sciences.

From then on, Samsung has been known as a number one emblem throughout a couple of trade verticals. Maximum particularly, the corporate has been the arena’s greatest telephone producer, with wildly a hit product strains together with the Galaxy collection.

Samsung’s expansion beneath Lee is simple, despite the fact that it is not with out controversy. In 1995, Lee was once discovered responsible of bribing the rustic’s President, Roh Tae-woo. Over a decade later, in 2008, he was once discovered responsible of tax evasion and accused of big corruption and extra tampering of the South Korean executive. Samsung is considered one of Korea’s greatest corporations, and the biggest of the family-run chaebols, which might be constructed from Samsung, LG, Hyundai, SK and Lotte.

Lee’s son and Samsung vice-chairman, Lee Jae-yong is predicted to be named successor, however he has his personal historical past with law-breaking. Lee Jae-yong spent nearly a yr in jail after being discovered responsible on a couple of fees of bribery and corruption attached to the now-removed President Park Geun-hye.

In 2020, Samsung continues to thrive as the worldwide conglomerate it’s nowadays, and Lee Kun-hee’s involvement can’t be understated, in each just right tactics and dangerous.

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