Lee byung-chul cause of death

South Korean businessman (–)

For the North Korean general, see Ri Pyong-chol.

In this Korean name, the family name is Lee.

Lee Byung-chul (Korean:&#;이병철; 12 February – 19 November ^[2]) was a South Korean businessman who founded the Samsung Group, the country's largest chaebol (conglomerate).

Lee founded Samsung in , at the age of ^[3] He is recognized as the most successful business magnate in South Korea's history.

Early life and education

Lee was born on 12 February in Uiryeong County, South Gyeongsang Province, Korean Empire. He was born the youngest son of four siblings to father Lee Chan-woo and mother Kwon Jae-lim.^[4] He was the son of a wealthy land-owning yangban family, a branch of the Gyeongju Lee clan.^[5]

He attended high school at Joongdong High School in Seoul, and in , he enrolled in the Department of Political Economy at Waseda University in Tokyo but didn't finish his studies and decided to drop out in ^[6][1]

In , Lee was awarded an honorary doctorate from Boston College.^[7]

Career

Samsung

Lee established a trucking business and real estate business in Daegu on 1 March ,^[8] which he named Samsung Trading Co, the forerunner to Samsung.

Samsung means (Korean:&#;삼성; lit.&#;Three Stars) which explains the initial corporate logos.

Lee byung chull biography wikipedia Strategic diversification and substantial investments in research and development were crucial in positioning Samsung as a global leader across multiple high-tech sectors. In , he established Cheil Sugar Manufacturing, Korea's first sugar refinery. The timing was perfect as basic goods like sugar were in high demand, allowing Lee to play a crucial role in the nation's economic recovery. Login to post a comment.

By , Samsung was transporting goods throughout Korea and to other countries. The company was based in Seoul by ^[9]

Korean War

Samsung was one of the ten largest "trading companies" when the Korean War started in ^[10]

With the conquest of Seoul by the North Korean army, Lee was forced to relocate his business to Busan.

The massive influx of U.S. troops and equipment into Busan over the next year and a half of the war proved to be highly beneficial to Lee's trading company.^[10]

Federation of Korean Industries

In , when Park Chung Hee seized power in the May 16 coup, Lee was in Japan and for some time he did not return to South Korea.

Eventually, a deal was struck and Lee returned but Samsung had to give up control over the banks it acquired and follow economic directives from Park's government.^[10]

The first step of the Federation of Korean Industries was established in August The association was founded by Samsung Group chairman Lee Byung-chul.

Later in life, Lee served as chairman of the Federation of Korean Industries and was known as the richest man in Korea.^{[11][not specific enough to verify]}

Cultural and art

In , he established the Samsung Culture Foundation^[12] to promote a broad range of programs to enrich Korean cultural life.^[13]

Samsung Electronics

In , Samsung Electronics Manufacturing (renamed Samsung Electronics) and later merged with Samsung-Sanyo Electric.^[14] Samsung Electronics Manufacturing had 45 employees and about US$, sales in and it made household electronics exclusively.^[14]

Personal life

Death

After his death, Ho-Am Art Museum was opened to the public for tours.

His collection of Korean art is considered one of the largest private collections in the country, featuring a number of art objects that have been designated "National Treasures" by the Korean government.^{[15][promotional source?]} Ho-Am is located a short distance from the Everland park, one of South Korea's popular amusement parks (Everland is also owned by the Samsung Group).^{[citation needed]}

Family tree

Lee's family tree

Source:^[16]

Lee's children with Park Du-eul&#;[ko]

1. 1st daughter: Lee In-hee&#;[ko], The founder of Hansol and spouse of its former chairman, Dr.

   Cho Wan-hae, M.D

2. 1st son: Lee Maeng-hee&#;[ko]^{[citation needed]}, Founder of CJ Group (in which he lost the lawsuit^[which?] alongside Lee Kun-hee), father of current CJ Group chairman Lee Jay-hyun^[17]
3. 2nd son: Lee Chang-hee&#;[ko], Founder of Saehan^[18]
4. 2nd daughter: Lee Suk-hee, spouse of LG board director Koo Cha-hak, younger brother of the emeritus chairman, Koo Cha-kyung and paternal uncle of the former deceased chairman, Koo Bon-moo
5. 3rd daughter: Lee Soon-hee
6. 4th daughter: Lee Deok-hee, widow of Lee Jeong-gi
7. 3rd son: Lee Kun-hee, 2nd chairman of Samsung, father of 3rd and present Samsung chairman Lee Jae-yong and Hotel Shilla president Lee Boo-jin
8. 5th daughter: Lee Myung-hee, spouse of Chung Jae-eun, chairwoman of Shinsegae group and mother of Chung Yong-jin.^[18]

Lee's children with Kuroda

1. 4th son: Lee Tae-whi
2. 6th daughter: Lee Hye-ja

References