SEOUL, South Korea (AP) – Samsung says Lee Kun-Hee, the ailing president of Samsung Electronics, has passed away.
A statement from Samsung says Lee passed away on Sunday with his family members, including his son and de facto business leader Lee Jae-yong, by his side.
Lee Kun-Hee had been hospitalized for years, and young Lee was in charge of the company’s affairs.
He says, “At Samsung, we will all cherish his memory and are grateful for the journey we have shared with him.”
From a local company, Lee Kun-Hee had transformed Samsung into a global leader in innovation and industry.