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Samsung Electronics president Lee Kun-hee, who transformed the South Korean telecommunications group into a global giant, died this Sunday at the age of 78, the South Korean group announced in a statement.
Under his leadership, Samsung has become the largest smartphone and electronic chip maker on the planet. The multinational’s global turnover is equivalent to one fifth of South Korea’s Gross Domestic Product (GDP), making it a key asset for the Asian country’s economic health.
Lee, Known for his lonely lifestyle, he had been in bed since suffering a cardiovascular accident in 2014.
Little information had leaked about his health, which surrounded his existence with an aura of mystery until his final days.
“It is with great sadness that we announce the death of Lee Kun-hee, president of Samsung Electronics,” the group announced in a statement. “President Lee passed away on October 25 with his family, including Vice President Jay Y. Lee,” the statement read.
“President Lee was a true visionary who transformed Samsung from a local company to a global leader of innovation and industrial strength “, the company recalls, adding that” its heritage will be indelible “.
Samsung is by far the largest family conglomerate in South Korea, the 12th largest economy in the world.
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