Samsung was founded in 1938 by Lee Byung-Chul, the father of Lee Koon-hee. Initially, it was limited to fish and fruit exports. In time, Lee Koon-hee expanded into other areas, including retail and electronics.
Lee Koon joined the Samsung group in 1966. Before that, he had a degree in economics from a Japanese university and a postgraduate degree from George Washington University in the United States. After the death of his father in 1987, Lee Koon-hee became the head of Samsung. In 2006, Samsung overtook Sony Corporation to produce television sets.
Along with the production of electronic items such as smartphones, television sets, memory chips, screens, etc., the empire of Sangsang Group has spread to the areas of life insurance, construction, hotels etc. Leading companies like Apple, Huawei, etc. are mainly supplied with memory chips and display screens by Samsung.
Lee was ranked 35th on Forbes’ 2014 list of the world’s most influential people. He was convicted in 1996 and in 2008 in a tax evasion case. What is special is that both times he was pardoned by the President and his imprisonment was averted.
Reference: E Paper loksatta