Samsung Chairman Lee Kun-hee Leaves After Planting Top-Tier DNA

After Over 6 Years of Illness, Passed Away on the 25th, Today’s Encoffining Ceremony... Funeral on the 28th
Despite Declining Condolences, Political and Business Circles Pay Respects

[Asia Economy Reporter Kim Hyewon] Lee Kun-hee, Chairman of Samsung who instilled world-class DNA in South Korea, passed away at the age of 78. The encoffining ceremony was held on the morning of the 26th at Samsung Medical Center in Irwon-dong, Gangnam-gu, Seoul.

The ceremony, conducted in the Won-Buddhism style, began at 9 a.m. with family members including his wife Hong Ra-hee, former director of the Leeum Museum of Art, children Lee Jae-yong, Vice Chairman of Samsung Electronics, Lee Boo-jin, President of Hotel Shilla, and Lee Seo-hyun, Chairwoman of the Samsung Welfare Foundation, in attendance. Before the ceremony started, Won-Buddhism officials arrived one after another at the funeral hall, and around 8:55 a.m., the bell announcing the encoffining ceremony rang out externally.

Chairman Lee joined Won-Buddhism in 1973 through his late mother-in-law, the late Kim Hye-sung, and practiced his faith alongside former director Hong. His Won-Buddhism Dharma name was Jungdeok (重德), and his Dharma title was Jungsan (重山).

After becoming Samsung Chairman on December 1, 1987, Lee declared, "Through future-oriented and challenging management, I will grow Samsung into a world-class top-tier company," and continued relentless innovation, turning Samsung into a company that the world pays attention to. The foundation of world-class Samsung was laid in 1993 in Frankfurt, Germany, through the New Management Declaration. It was the moment he declared a second founding with the famous phrase, "Change everything except your wife and children."

Since then, Samsung Electronics has been recognized for its leap to a global company by leading with "quality management, excellence management, and design management." Samsung currently ranks first globally in 20 fields including semiconductors, smartphones, and TVs.

The bereaved family decided to hold a private family funeral for Chairman Lee and declined external condolences and floral tributes. However, political and business figures continue to visit steadily to pay tribute to this great star of the Korean economy.

Jung Eui-sun, Chairman of Hyundai Motor Group, met with reporters at the funeral hall on the day and said, "I am grateful that he strongly instilled the spirit of being number one in all sectors of our country's economy," and added, "He always treated me warmly," honoring the deceased.

Senior current and former Samsung executives, including Kwon Oh-hyun, Samsung Advisor who closely assisted Chairman Lee, and Jang Choong-ki, former Vice President (President) of Samsung Future Strategy Office, visited the funeral hall early in the morning to pay their respects. The day before, visitors included Lee Jae-hyun, Chairman of CJ Group and nephew of Chairman Lee, Jung Mong-yoon, Chairman of Hyundai Marine & Fire Insurance, Jung Mong-kyu, Chairman of HDC, and Lee Jae-myung, Governor of Gyeonggi Province. President Moon Jae-in sent Chief Secretary Noh Young-min and Senior Secretary for Economic Affairs Lee Ho-seung to mourn Chairman Lee.

The late Chairman suffered an acute myocardial infarction on the night of May 10, 2014, at his home in Itaewon-dong, Yongsan-gu, Seoul, underwent cardiopulmonary resuscitation (CPR) at the hospital, and continued treatment after revival. He subsequently breathed on his own and received rehabilitation treatment but ultimately did not recover from his illness and passed away in bed.

Chairman Lee's funeral hall was set up on the second basement floor of Samsung Medical Center. The funeral will last four days, with the cremation scheduled for the morning of the 28th. The burial site is known to be in Yongin Seonyeong.