Samsung Electronics chairman Kun-hee Lee is dead.
The business tycoon who transformed the South Korean firm into a global tech titan died at the age of 78 on Sunday.
His death was announced in a statement by the company. The statement read,
“It is with great sadness that we announce the passing of Kun-hee Lee, Chairman of Samsung Electronics.
“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, his legacy will be everlasting.”
Under Lee’s leadership, Samsung rose to become the world’s largest producer of smartphones and memory chips, and the firm’s overall turnover today is equivalent to a fifth of South Korea’s GDP.
The company’s success contributed to what made Lee South Korea’s richest and most powerful industrialist.
The 78 year old industrialist had been in medical care since he had an heart attack in 2014,but few details were ever revealed about his condition, leaving him shrouded in mystery even in his final days.