Samsung Chairman Lee Kun-hee Dies at 78

 

 

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 –

“Samsung is delivering a solution that is bringing about a new era of garment care. the Samsung AirDresser delivers a range of clothing care solutions to ensure that your garments are kept in tip-top shape. Whether you need to make sure your suits always look pressed for work, ensure your chiffon dress is steamed and sanitized in a delicate manner or refresh your kids’ uniforms in a pinch, the AirDresser has your back.Using powerful air and steam to remove odors, relax wrinkles, refresh and dry your clothes, the AirDresser brings truly comprehensive clothing care to the home environment, all in a sleek, appealing package. What’s more, Samsung’s AirDresser is suitable for a wide range of users, delivers proven benefits in all seasons and boasts a range of smart features to make maintaining your clothes more convenient than ever before.” Source: Samsung News

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