Lee Kun Hee took Samsung from a small television company into a giant global maker of consumer electronics.
Samsung announced the cause of his death but did not specify the cause of his death. In 2014, however, the chairman suffered a heart attack.
Samsung said in a statement:
“It is with great sadness that we announce the passing of Kun-hee Lee, Chairman of Samsung Electronics.
“Chairman Lee passed away on October 25 with his family, including Vice Chairman Jay Y. Lee, by his side.
“Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local business. His legacy will be everlasting.”
Lee inherited chairmanship of Samsung from his father in 1987. Then, he was a fish and fruit exporter.
Under Lee’s leadership, Samsung rose to become the world’s largest producer of smartphones and memory chips, and the firm’s overall turnover today is equivalent to a fifth of South Korea’s GDP.