Lee Kun-hee’s cause of death was not known but he suffered a heart attack in 2014. A cause of death was not given, but Lee Kun-hee had been incapacitated for many years after suffering a heart attack in 2014, causing him to withdraw from public life. He was the richest man in South Korea. The Samsung group contributed around a fifth of the country’s GDP.
Lee Kun-hee was famous for the corruption scandal bringing down South Korean president Park Geun-hye in 1995 with bribes. He was later pardoned for each conviction of tax evasion and embezzlement in 2008 .Lee Jae-yong, also known as Jay Y. Lee, had been widely assumed to take over upon his father’s passing.
Because of the laws in South Korea South Korean l anyone who would assume Lee’s assets must pay many billion dollars in inheritance tax, which could make them reduce their stake in the company.
His son Lee Jae-yong is assumed to possibly take over his father’s role. While Lee Jae-yong has long been groomed to become chairman, his legal issues amounted to him spending almost a year in jail for his role in the corruption scandal that brought down former South Korean president Park Geun-hye.
In other news –
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