According to report reaching OYOGist.com, Samsung executive Chairman, Lee Kun-Hee, has been reported dead. Lee Kun-Hee died at the age of 78 on Sunday.
Samsung announced his demise in a statement released on Sunday, stating that Lee passed away and is survived by family including the 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.
According to facts gathered by OYOGist.com, the firms turnover is equivalent to a fifth (5th) of the Gross Domestic Product of South Korea which is the fifth 5th largest economy in the world.
Lee Kun-Hee would be remembered for turning the telecommunication brand into a global giant.
Lee Kun-Hee’s son, Vice Chairman Lee Jae-Yong was reported to have been running the company since 2014 after his father suffered a heart attack. Lee Jae-Yong was jailed for five years in 2017 after he was found guilty of bribery and other offences and of which he was later cleared of the most serious charges on appeal and released in 2018. A retrial is reportedly ongoing in South Korea.