Samsung chairman Lee Kun-hee has been ordered by the Supreme Court of India to appear before a trial court in Ghaziabad. A criminal case has been filed against Kun-hee in a $1.4 million cheating case, which was first filed in 2012. Also Read - Samsung Galaxy M52 5G launching in India on September 28, release on Amazon website
Kun-hee is South Korea’s wealthiest citizen and according to Forbes, his net worth is around $11.2 billion. He currently holds 41.5 million shares or about 21 percent, of Samsung Life, which makes him the largest shareholder of the biggest private company in Korea. His more than 25 years of leadership has been anything but smooth sailing, as there have been accusations of corruption, embezzlements, strained family relationships and a continuing patent battle with Apple. But he has seen Samsung transform from a Korean budget name into a major international force.
Lee Kun-hee became Samsung chairman on December 1, 1987, just two weeks after the death of his father, Lee Byung-chull. One of the first things he did was change Samsung’s earlier logo (三星, which means “three stars” in Chinese) to the blue ellipse we see today with a view to transform the company to an international powerhouse. He also changed the way the company functioned and brought in experts from the west to foster in a more international culture at Samsung.
Kun-hee is currently grooming his son Jae-yong to eventually take over the company, especially Samsung’s electronics arm. Jae-yong has risen through the ranks at Samsung, and last year was promoted to vice-chairman, taking him a step closer to the leadership of the world’s top technology company. His two daughters, on the other hand, are expected to get other parts of the huge conglomerate.