Samsung Chairman Passed Away

Samsung Chairman Passed Away Samsung Chairman of the Board has passed away. President Lee Kun-Hee passed away at the age of 78. Lee Kun-Hee, Chairman of the Board of South Korean electronics company Samsung Electronics, has been in treatment since 2014. Speaking to reporters, Lee Kun-Hee's son and de facto director of Samsung Lee Jae-yong reported that his father passed away today. Lee, who started the South Korean company Samsung in 1968 and took over the chairmanship of the board from his father Lee Byung-chul in 1987, played a major role in making the company today. While under Lee's direction, the company entered Fortune magazine's list of the World's 100 Largest Companies in 2007. In 2008, Lee was alleged to be "paid from the bribe fund" to prosecutors, judges and politicians in order to avoid paying taxes, and as a result of the investigation, Lee confessed to establishing a "bribery fund" and quit his job. Tried by the Seoul District Court in July 2008, Lee also accepted charges of financial irregularity and tax evasion and received a 3-year prison term and a $ 98 million fine. Lee was acquitted in December 2009, after South Korean President Lee Myung-bak issued a special amnesty. Lee Kun-Hee, who returned to Samsung's board of directors in 2010, had a heart attack in 2014 and was treated at the hospital.