March 25th, 2017
Lee Kun Hee is globally known as the CEO of Samsung, the largest group in Asia which generates a fourth of South Korea’s economy. The history of Samsung Group dates back in 1938 when Lee Byung Chul, the father of Lee Kun Hee has founded the company which was focused on producing low quality products in large quantities. After his father’s death in 1987, Lee Kun Hee became the chairman of Samsung, a move which was going to bring the “small” Korean business into the colossal leader of today. Starting a totally new business strategy under the motto “Change everything except your wife and kids”, Lee Kun Hee managed to change the old concept of the brand by improving quality. Starting with 1993 Samsung began rising from east to west and slowly turning into an international giant which was to become the most powerful Asian brand in the world.
Another vital movement and probably the engine of Samsung expansion was the brilliant idea of Lee Kun Hee to employ foreign professionals and train Korean employees outside Korea in America or Europe. In this way the international growth for Samsung flourished and also the popularity became stronger. In many interviews, Lee Kun Hee affirms that only the brilliant minds are accepted at Samsung and there is always a constant search for talents. This policy ensures the leading role of Samsung for many decades from now being also applied in every subsidiary of the Group such as: Electronics, Heavy Industries (shipbuilder), Tech Win ( weapons technology ), Engineering C & T (constructions ) and even Life Insurance.
With a fortune estimated at 12 billion $, Lee Kun Hee was listed in the top 35 most influential people in the world being also the richest man in South Korea. Being a traditional Korean, Lee Kun Hee never wished to run mansions in exclusive locations throughout the world like other billionaires do, in return he is a 74 years old dedicated father of 3 children who lives in Seoul. His only son Jay Lee is supposed to take over the company soon, as in 2014 Lee Kun Hee suffered a heart attack.