Samsung Chairman Lee Kun-hee dies at the age of 78

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Sunday 25 October 2020 11:30 PM

A Window to the World – The tech industry has lost one of its most important figures. Samsung revealed that its boss Lee Kun-hee passed away on October 25 at the age of 78 after spending the past six years in hospital after suffering a heart attack. The company did not name his successor in a statement sent to Engadget, but Lee’s son and de facto leader, Vice Chairman Lee Jae-yong (also known as Jay Y. Lee), is one of the more likely candidates. Lee Kun-hee left behind a company that’s much stronger than it was when he started, but also one trying to overcome the ethical issues that often defined his tenure.

Lee took over as chairman in 1987 and is best known for growing Samsung from a relatively modest and often domestically focused company into a heavyweight company in many areas of electronics, be it smartphones or

Televisions, devices, or components such as displays and memory. Samsung often attributes its explosive growth to a “new management” meeting in 1993, in which Lee spent three days identifying a revamp of company culture that would help create a global powerhouse.

The Wall Street Journal noted that Lee often had a pragmatic approach, calling emergency meetings to review problems, influence hiring decisions, and launch new products at short notice. He is known for a symbolic move of 1995 in which he ordered tens of thousands of devices burned for poor quality. If I felt there was a problem, the pressure would increase until it was fixed.

Lee’s presidency was marked by scandals. He was convicted in 1995 of bribing the President of South Korea,

And in 2008 on charges of embezzlement and tax evasion. While resigning, his influence was so great that he was pardoned hoping to win the 2018 Winter Olympics for South Korea – which he did.

There is also the question of succession. Samsung has received increasing criticism for maintaining leadership in the family, especially after Lee Jae-yong was found guilty of bribery and embezzlement. The company has spent recent years trying to distance itself from Lee Kun-hee’s moral concerns, and his son has claimed that he will not pass the leadership on to his children. As far as Lee identified the biggest modern Samsung, it is evolving.

However, there is no doubt that Lee’s influence can be felt today. There’s a good chance you own at least one Samsung product or use a device based on Samsung parts, and Lee has played a major role. In a sense, the nature of modern smartphones owes its shape to Lee – the company embraced smartphones and started the Galaxy streak under his watch. Whatever you think of Lee, the foundations he laid could make Samsung a mainstay of the electronics world for a long time to come.

Source: The delegation



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