Oct 25, 2020
Samsung Group titan Lee Kun-hee dies aged 78
Lee Kun-hee, the chairman of South Korea's largest conglomerate, Samsung Group, has died aged 78. Mr Lee helped to grow his father's small trading business into an economic powerhouse, diversifying into areas like insurance and shipping. Samsung said Mr Lee died on Sunday with family by his side, but did not state the exact cause of death. Mr Lee became famous for telling employees in 1993: "Let's change everything except our wives and kids." The firm then burned its entire mobile phone stock, consisting of 150,000 handsets. Mr Lee's son, Lee Jae-yong, has served jail time for his role in a bribery scandal which triggered the ousting of then-President Park Geun-hye from office in 2017.
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