Lee Nak-yeon: "Lee Kun-hee Strengthened Chaebol Structure... Samsung Should Break Wrong Chain and Be Reborn"

Lee Nak-yeon, leader of the Democratic Party of Korea, is attending the Supreme Council meeting held at the National Assembly on the 21st and delivering an opening remark. Photo by Yoon Dong-joo doso7@

[Asia Economy Reporter Wondara] Lee Nak-yeon, leader of the Democratic Party of Korea, expressed "deep condolences" on the news of the passing of Lee Kun-hee, Chairman of Samsung Group, and stated, "I hope Samsung breaks away from its past mistakes and is reborn."

On the 25th, Lee posted on his Facebook, "I express my deep condolences on the passing of Chairman Lee Kun-hee of Samsung Group," adding, "Through New Management, Creative Management, and Talent Management, the late chairman led change with innovative leadership at critical moments. As a result, Samsung has risen as a global company in home appliances, semiconductors, and mobile phones."

He continued, "The late chairman's various sayings, such as 'Think a little and look at the world,' created a vibrant and creative corporate culture. He also gave our society a reflection to ponder."

Lee also said, "However, it cannot be denied that the late chairman had a negative impact by strengthening the conglomerate-centered economic structure and not recognizing labor unions," adding, "He also left shadows such as opaque governance structures, tax evasion, and collusion between politics and business."

He then stated, "The late chairman's innovative leadership and indomitable spirit of challenge should be emulated in any era and field. I hope Samsung breaks away from its past mistakes and is reborn," and concluded, "I calmly reflect on the light and shadow of the late chairman and sincerely pray for his repose."

Chairman Lee passed away at the age of 78 on the morning of the same day at Seoul Samsung Hospital in Irwon-dong, Seoul. He had been battling illness for six years and five months after collapsing at his home in Itaewon-dong, Seoul, in May 2014 due to acute myocardial infarction. Samsung announced the news of his death and stated, "According to the wishes of the deceased and the bereaved family, the funeral will be held simply as a family funeral."