"Great Star Has Fallen" Chairman Lee Kun-hee Passes Away Today (Summary)

Chairman Lee Kun-hee's Final Farewell in Hwaseong, Where He Built the Semiconductor Legend
From Yongsan Residence, Seungjiwon, Leeum Museum, Samsung Electronics Hwaseong Plant to Family Ancestral Grave in Suwon
About 1,000 Employees Line the Streets at Hwaseong Plant to See Off the Deceased's Final Journey

The funeral procession for the late Lee Kun-hee, Chairman of Samsung Group, was held on the morning of the 28th at the Samsung Medical Center Funeral Hall in Gangnam-gu, Seoul. Lee Jae-yong, Vice Chairman of Samsung Electronics (from the right), Hong Ra-hee, Lee Boo-jin, CEO of Hotel Shilla, and Lee Seo-hyun, Chairperson of the Samsung Welfare Foundation, are seen getting out of a vehicle and entering the funeral hall. 2020.10.28 Photo by Joint Press Corps [Image source=Yonhap News]

[Asia Economy Reporters Changhwan Lee, Dongwoo Lee, Gimin Lee] Lee Kun-hee, Chairman of Samsung who instilled world-class DNA into Korean society, passed away on the 28th.

The funeral service was held privately from 7:20 a.m. at the Samsung Medical Center Funeral Hall in Gangnam-gu, Seoul. Family members including Hong Ra-hee, former director of the Leeum Museum of Art, 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, as well as relatives such as Lee Myung-hee, Chairwoman of Shinsegae Group, her nephew Jung Yong-jin, Vice Chairman of Shinsegae Group, Jung Yoo-kyung, President of Shinsegae Department Store, Lee Jae-hyun, Chairman of CJ Group, and Cho Dong-gil, Chairman of Hansol Group attended.

Jung Eui-sun, Chairman of Hyundai Motor Group, and Lee Woong-yeol, Honorary Chairman of Kolon Group, also accompanied the late great star of the Korean economy on his final journey.

The funeral proceeded with a report on the deceased’s biography by Lee Soo-bin, Chairman of Samsung Economic Research Institute, memories shared by Kim Pil-gyu, former Chairman of KPK Trading and a high school classmate of the deceased, a memorial video screening, and floral tributes from attendees.

During the biography report, Chairman Lee Soo-bin recalled the life of the deceased who laid the foundation of the semiconductor industry by acquiring Korea Semiconductor in 1974 and grew Samsung into a global company through the New Management initiative. When mentioning that the deceased had "passed away," he appeared choked up and was momentarily speechless.

Chairman Kim Pil-gyu reminisced about the deceased’s extraordinary nature in childhood, his curiosity and dedication to new technologies, and the story of how he advised his father, the previous chairman, to enter the semiconductor industry.

Kim said, "There is a saying 'Seung-eobu,' meaning to surpass one's father. This is the first step of filial piety. I have traveled around the world, but I have never seen anyone more 'Seung-eobu' than Chairman Lee." He added, "Lee Jae-yong, who learned from Chairman Lee over his shoulder, will write a new history and further strengthen Samsung."

After the funeral, the bereaved family moved in the funeral procession, deeply saddened. Former Director Hong Ra-hee boarded the family bus with a sorrowful expression. The eldest daughter, Lee Boo-jin, wept loudly, supported by her older brother, Vice Chairman Lee Jae-yong.

The chairman’s well-known love for his daughters was evident. Unlike first and second-generation business leaders who did not entrust management to their daughters, Chairman Lee entrusted key affiliates’ management to Lee Boo-jin and Lee Seo-hyun. He often appeared holding his daughters’ hands at major events, showing a tender side.

Current and former Samsung executives also boarded a small bus following the hearse. Former Vice Chairman and Head of Samsung Future Strategy Office Choi Ji-sung, former Vice Chairman of Samsung Electronics Lee Hak-soo, Vice Chairman of Samsung Electronics DS Division Kim Ki-nam, President of Samsung Electronics Lee In-yong, and Chairman Lee Soo-bin, among other senior executives, boarded vehicles waiting in front of the funeral hall with heavy expressions.

The funeral procession for the late Lee Kun-hee, Chairman of Samsung Group, was held on the morning of the 28th at the Samsung Medical Center Funeral Hall in Gangnam-gu, Seoul. The hearse is leaving the funeral hall. 2020.10.28 Photo by Joint Press Corps [Image source=Yonhap News]

The hearse carrying Chairman Lee left Samsung Medical Center around 8:55 a.m. About 250 people, including citizens and reporters, gathered around the hearse to catch a last glimpse of the chairman. The funeral procession visited the late chairman’s residence in Yongsan-gu, Seungjiwon, and the Leeum Museum of Art before heading to Samsung Electronics’ Hwaseong plant and finally arriving at the family burial site in Suwon.

Samsung Electronics’ Hwaseong plant is the core base of Samsung’s semiconductor business, producing memory semiconductors and system semiconductors. The Giheung and Hwaseong semiconductor plants, completed before the Pyeongtaek campus, are the main production sites for Samsung’s memory semiconductors. In 1983, Chairman Lee Kun-hee personally secured the site and oversaw the groundbreaking and completion ceremonies alongside his father, the late Chairman Lee Byung-chul, showing deep attachment to the site.

Chairman Lee attended eight official events from the 1984 completion ceremony of the Giheung Samsung Semiconductor & Telecommunications VLSI plant to the 2011 groundbreaking and completion ceremonies of Hwaseong Semiconductor Line 16. He frequently visited the Hwaseong plant during his lifetime, building Samsung’s semiconductor legacy.

On this day, over 1,000 employees lined the streets to bid farewell to the chairman. The employees displayed a banner that read, "It was an honor to take a vigorous leap toward 100 years of semiconductors with the chairman," and "We will continue to create the semiconductor legend."