Chairman Lee Passes Away at Age 78
[Asia Economy Reporter Dongwoo Lee] The late Lee Kun-hee, chairman of Samsung Electronics who passed away on the 25th, nurtured Samsung Group into a global top-tier company and left numerous sayings reflecting the values he pursued as a business leader.
In his inauguration speech as chairman of Samsung Group in December 1987, the late Chairman Lee Kun-hee stated, "Through future-oriented and challenging management, we will grow Samsung into a world-class top-tier company."
He emphasized, "We will further expand into advanced technology industries and accelerate the group's globalization through the activation of overseas businesses. We will educate talents needed by the nation and society, ensuring the best human relations and highest efficiency for them."
In 1993, at a hotel in Frankfurt, he declared Samsung's New Management. Chairman Lee said, "If we do not change now, we might only reach second or 2.5-tier, at best 1.5-tier. But we will never become first-tier. Change everything except your wife and children," advocating reforms for corporate growth.
In his 1996 New Year's address, he reiterated Samsung's design philosophy: "Design should go beyond decorating and embellishing the product's appearance to embody the company's philosophy and culture."
In the 2000 New Year's address, he repeatedly emphasized brand image. He said, "A number one product must reach the world's highest level not only in quantitative market share but also in qualitative value, profitability, and brand image."
In the 10th anniversary speech of the New Management declaration in 2003, he encouraged, "I get chills thinking that if we had not implemented New Management, Samsung might have fallen to second or third tier or even collapsed. Let us spread the achievements of New Management to help overcome the difficult national economic crisis and improve people's lives."
Returning to the forefront of management in March 2010, the late Chairman Lee said, "This is the real crisis. Global top-tier companies are collapsing. Samsung could fall anytime. Within the next 10 years, most of the businesses and products representing Samsung will disappear. We must start over. There is no time to hesitate. Let's move forward only."
In the 20th anniversary speech of New Management in 2013, he said, "We must fight the crisis of being number one, the crisis of complacency, and difficult battles. New Management must start anew for higher goals and ideals. We must complete creative management where fearless challenges, innovation, autonomy, and creativity breathe. Let us gather our creative capabilities with an open mind."
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