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Life In Legacy - Week ending Saturday, October 31, 2020

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Lee Kun-hee, South Korean chairman of Samsung

Business and Science

Lee Kun-hee (78) ailing Samsung Electronics chairman who transformed the small TV maker into a global giant of consumer electronics but whose leadership was also marred by corruption convictions. Lee inherited control of the company from his father, and, during his nearly 30 years of leadership, Samsung Electronics Co. became a global brand and the world’s largest maker of smartphones, TVs, and memory chips. Samsung sells Galaxy phones while also making the screens and microchips that power its major rivals—Apple’s iPhones and Google Android phones. Its businesses encompass ship building, life insurance, construction, hotels, amusement parks, and more. Samsung Electronics alone accounts for 20 per cent of the market capital on South Korea’s main stock exchange. Lee left behind immense wealth, with Forbes estimating his fortune at $16 billion as of January 2017. He had been hospitalized since May 2014 after suffering a heart attack, and his son, Lee Jae-yong, has been running Samsung. Lee Kun-hee died in Seoul, South Korea on October 25, 2020.

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