We have received very sad news. Lee Kun-hee died at the age of 78. This is one of people who had big influence on Samsung's strong position in the market. Lee Kun-hee died at his home on 25th of October, surrounded by his relatives, including his son Lee Jae-yong. The cause of death hasn't been published for journalists.

Lee Kun-hee became president of Samsung in 1987. The company has undergone a drastic transformation since then. Samsung's great success made Lee Kun-hee the richest man in South Korea. Lee Kun-hee finally stepped down from his position as president in 2014 after suffering a heart attack and then he decided to withdraw from public life. At that time, the role of Samsung's president was taken over by his son, the aforementioned Lee Jae-yong, and it is very likely that he will remain the president of Samsung after the death of his father, but so far these reports haven't been confirmed.