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. “All of us at Samsung will cherish his memory and are grateful for the journey we shared with him.”
Kim-hee’s son Jay Y. Lee has been leading the company since becoming Vice Chairman in 2012 and is expected to inherit his father’s chairmanship.
Lee Kun-hee, built Samsung into a global smart phones, televisions and computer chips was also convicted twice, for white-collar crimes committed.
When Mr. Lee took the helm at Samsung Group in 1987, after the death of his father and the conglomerate’s founder, Lee Byung-chull, many in the only knew the company for its cheap products.
However, Lee Kun-hee pushed the company up the technological giant status. By the early 1990s, Samsung had surpassed many Japanese and American rival companies to become a pacesetter in memory chips.