Topman Lee Kun-hee of the South Korean technology company Samsung has passed away. The 78-year-old South Korean, who had been struggling with health problems for years, died in a hospital in Seoul.
Lee Kun-hee was the son of the founder of Samsung and took over as CEO in 1987. Under his leadership, the company developed into one of the world’s largest manufacturers of smartphones and television sets.
In 2008, Lee resigned from his board of directors after being convicted of tax evasion and bribery. When the South Korean president overturned the sentence a year later, he returned to the helm of Samsung. In the past few years since he had a heart attack, his duties have been taken over by his son Lee Jae-yong.
Lee Kun-hee passed away in front of his family today, the company said in a statement. “Chairman Lee was a true visionary who turned Samsung from a local company into a leading innovator and industrial powerhouse. His legacy is immortal.”
Lee is said to have been South Korea’s richest man. According to Forbes business magazine, he was worth more than $ 20 billion.