Samsung Chairman Lee Kin Hee passed away, Samsung issued a statement: His legacy will be eternal

A Samsung statement said that when Lee Jianxi died on Sunday, his family, including his son and the actual company leader Lee Jae-yong, were with him.

“Chairman Lee is a true visionary. He transformed Samsung from a local company to a world-leading innovator, making Korea an industrial powerhouse,” Samsung said in a statement. “His legacy will be eternal. ”

Samsung is by far the largest family-controlled conglomerate, occupying a dominant position in the business of South Korea, the world’s 12th largest economy. Samsung’s overall turnover is equivalent to one-fifth of South Korea’s gross domestic product, which is vital to South Korea’s economic health.

His son, Samsung Electronics vice chairman Lee Jae-yong, has been in charge of the company since he suffered a heart attack in 2014.