Lee Kun Hee, chair of Samsung Electronics. Picture: BLOOMBERG FILE PHOTO
“Lee is such a symbolic figure in South Korea’s spectacular rise and how South Korea embraced globalisation, that his death will be remembered by so many Koreans,” said Chung Sun-sup, CEO of corporate researcher firm Chaebul.com. Ruling party leader and former prime minister Lee Nak-yon praised Lee’s leadership, but said: “It can’t be denied that he reinforced chaebol-led economic structure and failed to recognise labour unions.”
His son, Jay Y Lee, has been embroiled in legal troubles linked to a merger of two Samsung affiliates that helped Lee assume greater control of the group’s flagship Samsung Electronics. “For Jay Y Lee, getting the most of that stake Lee Kun-hee holds is more important than ever,” Ahn said. “The key here is with taxes. Coming up with enough taxes related to inheritance and avoiding possible disputes with his sisters are major hurdles.”
Lee died with his family by his side, including Jay Y Lee, the Samsung Electronics vice-chair, the conglomerate said.
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