<p>Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said.</p>.<p>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.</p>.<p>Known for a reclusive lifestyle, Lee was left bedridden by a heart attack in 2014. Little was revealed about his condition, leaving him shrouded in mystery even in his final days.</p>.<p>"It is with great sadness that we announce the passing of Kun-hee Lee, Chairman of Samsung Electronics," the company said in a statement.</p>.<p>"Chairman Lee passed away on October 25 with his family, including Vice Chairman Jay Y. Lee, by his side."</p>.<p>"Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local business," the firm said, adding: "His legacy will be everlasting."</p>.<p>Samsung is by far the biggest of the family-controlled conglomerates, or chaebols, that dominate business in South Korea.</p>.<p>They drove the nation's transformation from a war-ravaged ruin to the world's 12th-largest economy, but nowadays are accused of murky political ties and stifling competition -- with Lee himself twice convicted of criminal offences, in one case bribing a president.</p>.<p>When Lee inherited the chairmanship of the Samsung group in 1987 -- founded by his father as a fish and fruit exporter -- it was already the country's largest conglomerate, with operations ranging from consumer electronics to construction.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/samsungs-lee-kun-hee-tainted-titan-who-built-a-global-tech-giant-906671.html" target="_blank">Samsung's Lee Kun-hee: Tainted titan who built a global tech giant</a></strong></p>.<p>But Lee focused it and took it global: by the time he suffered a heart attack in 2014, it was the world's biggest maker of smartphones and memory chips. It is also a major global player in semiconductors and LCD displays today.</p>.<p>Even so, he seldom ventured out from the high walls of his private compound in central Seoul to visit the company headquarters, earning him the nickname the "hermit king".</p>.<p>His son, Samsung Electronics vice-chairman Lee Jae-yong, has been at the helm of the company since the 2014 heart attack.</p>.<p>Lee was jailed for five years in 2017 after being found guilty of bribery and other offences linked to former president Park Geun-hye, before being cleared of the most serious charges on appeal and released a year later.</p>.<p>That case is currently being retried.</p>
<p>Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said.</p>.<p>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.</p>.<p>Known for a reclusive lifestyle, Lee was left bedridden by a heart attack in 2014. Little was revealed about his condition, leaving him shrouded in mystery even in his final days.</p>.<p>"It is with great sadness that we announce the passing of Kun-hee Lee, Chairman of Samsung Electronics," the company said in a statement.</p>.<p>"Chairman Lee passed away on October 25 with his family, including Vice Chairman Jay Y. Lee, by his side."</p>.<p>"Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local business," the firm said, adding: "His legacy will be everlasting."</p>.<p>Samsung is by far the biggest of the family-controlled conglomerates, or chaebols, that dominate business in South Korea.</p>.<p>They drove the nation's transformation from a war-ravaged ruin to the world's 12th-largest economy, but nowadays are accused of murky political ties and stifling competition -- with Lee himself twice convicted of criminal offences, in one case bribing a president.</p>.<p>When Lee inherited the chairmanship of the Samsung group in 1987 -- founded by his father as a fish and fruit exporter -- it was already the country's largest conglomerate, with operations ranging from consumer electronics to construction.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/samsungs-lee-kun-hee-tainted-titan-who-built-a-global-tech-giant-906671.html" target="_blank">Samsung's Lee Kun-hee: Tainted titan who built a global tech giant</a></strong></p>.<p>But Lee focused it and took it global: by the time he suffered a heart attack in 2014, it was the world's biggest maker of smartphones and memory chips. It is also a major global player in semiconductors and LCD displays today.</p>.<p>Even so, he seldom ventured out from the high walls of his private compound in central Seoul to visit the company headquarters, earning him the nickname the "hermit king".</p>.<p>His son, Samsung Electronics vice-chairman Lee Jae-yong, has been at the helm of the company since the 2014 heart attack.</p>.<p>Lee was jailed for five years in 2017 after being found guilty of bribery and other offences linked to former president Park Geun-hye, before being cleared of the most serious charges on appeal and released a year later.</p>.<p>That case is currently being retried.</p>