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Samsung Chairman Lee Kun-hee dies at 78

News Agencies | Updated on: 25 October 2020, 10:58 IST

Chairman of Samsung Electronics Co. Lee Kun-hee has died at the age of 78, the company announced in a statement.

"Chairman Lee passed away on October 25 with his family, including Vice Chairman Jay Y. Lee, by his side. Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local business," Samsung said in a statement, as quoted by the South Korean Yonhap news agency on Sunday.


According to Yonhap, Lee Kun-hee died at a hospital in Seoul on Sunday after being hospitalized for years following a heart attack in 2014.

Lee is survived by his wife, Hong Ra-hee, two daughters and only son, Jae-yong, who has been at the helm of Samsung Electronics since his father's 2014 heart attack.

The company is crucial to the economic well-being of South Korea, as its overall turnover is equivalent to a fifth of the country's GDP.

(ANI)

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First published: 25 October 2020, 10:58 IST
 
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