Samsung Chairman Lee Kun-hee, Apple nemesis and the richest man in Korea, has suffered a serious heart attack, reports Fortune.
Kun-hee had to be resuscitated and undergo surgery following an acute myocardial infarction. He is said to be in stable condition at Samsung Medical Center.
Lee transformed Samsung from a manufacturer of low quality knock-offs into one of the world's leading manufacturers of everything from smartphones to ships. Apple has accused the company of copying its devices but still relies on it to manufacture various components of its mobile devices.
Fortune notes that Lee is also famous for his criminal record. Here are a few highlights they compiled:
● In 1996, Chairman Lee was one of nine South Korean businessmen charged and convicted of bribing former President Roh Tae Woo. Lee said the money was a gift. Four of the businessmen were sent to prison. Lee received a suspended sentence and, later, a presidential pardon.
● In a second high-profile case in 2008, Lee was cleared of bribery charges but convicted of tax evasion and financial wrongdoing. He was fined 110 billion won (nearly $100 million) and given a 3-year suspended jail term. A few months later he got his second presidential pardon.
● In 2010 Samsung's former chief legal counsel published a book called Think Samsung that claimed Lee stole up to 10 trillion won ($8.9 billion) from Samsung subsidiaries, destroyed evidence, and bribed government officials to ensure the smooth transfer of power to his son.
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Kun-hee had to be resuscitated and undergo surgery following an acute myocardial infarction. He is said to be in stable condition at Samsung Medical Center.
Lee transformed Samsung from a manufacturer of low quality knock-offs into one of the world's leading manufacturers of everything from smartphones to ships. Apple has accused the company of copying its devices but still relies on it to manufacture various components of its mobile devices.
Fortune notes that Lee is also famous for his criminal record. Here are a few highlights they compiled:
● In 1996, Chairman Lee was one of nine South Korean businessmen charged and convicted of bribing former President Roh Tae Woo. Lee said the money was a gift. Four of the businessmen were sent to prison. Lee received a suspended sentence and, later, a presidential pardon.
● In a second high-profile case in 2008, Lee was cleared of bribery charges but convicted of tax evasion and financial wrongdoing. He was fined 110 billion won (nearly $100 million) and given a 3-year suspended jail term. A few months later he got his second presidential pardon.
● In 2010 Samsung's former chief legal counsel published a book called Think Samsung that claimed Lee stole up to 10 trillion won ($8.9 billion) from Samsung subsidiaries, destroyed evidence, and bribed government officials to ensure the smooth transfer of power to his son.
Read More