Chinanews, October 25th, title: Li Jianxi's death: 27 years in charge with an iron hand, helping Samsung become the IT leader

　　There is a saying in South Korea that Koreans cannot avoid three things in their lives: death, taxes and Samsung.

　　On the 25th local time, Lee Jianxi, the chairman of South Korea's Samsung Group, died in Seoul at the age of 78.

Under his leadership, Samsung became South Korea's largest company, and Lee Jianxi was hailed as South Korea's most successful entrepreneur.

Nowadays, apart from his huge assets, what does Li Jianxi leave for Samsung?

Will this family business reproduce the glory of his time in the future?

Strong leadership to strengthen Samsung Group

　　Founded in 1938, Samsung Group, Li Bingzhe was the founder. He became stronger and bigger in the hands of Li Jianxi, making Samsung a world-class enterprise group.

In South Korea, Samsung is even called the "country" because the family business is almost as strong as many countries.

　　During the 27 years when Lee Jianxi was in charge of Samsung, the total revenue of Samsung's companies was equivalent to one-sixth of South Korea's GDP.

Some media once described this "empire" as follows: "Korean people may have been born from Samsung Hospital to this world, and they may go through this life from the Samsung Funeral Home. Marine insurance companies' underwrite..."

　　Li Jianxi was born in 1942. After returning from studying in the United States in 1966, he joined Samsung's Toyo Broadcasting Corporation. In 1987, he formally took over as the chairman of Samsung Group.

Data map: South Korea's Samsung Group Chairman Lee Jianxi and his eldest son Lee Jae-yong.

　　In 1993, Lee Kin-hee launched the "New Management" movement that affected the destiny of Samsung, emphasizing quality management and striving for change as the core, completely changing the "quantity-centric" thinking that prevailed at that time.

　　The phones produced by Samsung Electronics were inferior, and Lee Kin-hee initiated strict quality control procedures in the company for this reason.

He ordered the collection of telephone products complained by users and displayed them in the company lobby.

In addition, Li Jianxi ordered a bulldozer to run over 15,000 low-quality wireless phones, and the responsible persons were present to watch.

　　Li Jianxi showed an "iron fist" and once said in order to encourage the company to change: "Except for the wife and children, let's change everything."

Was involved in the "tax evasion gate" and was pardoned for Pyeongchang Winter Olympics bid

　　Li Jianxi acts low-key and secretive, and is known as the "hermit president".

　　In April 2008, Li Jianxi was sentenced for "tax evasion gate" and was amnested by the South Korean government at the end of 2009 to allow him to help South Korea bid for the 2018 Winter Olympics.

Before the verdict, Li Jianxi was a member of the International Olympic Committee.

Data map: Lee Jianxi, President of South Korea's Samsung Group.

　　On May 10, 2014, Li Jianxi developed symptoms of dyspnea and was rushed to the Suncheon Hsiang University Hospital near home. After arriving in the emergency room, Li Jianxi developed cardioplegia and received cardiopulmonary resuscitation (CPR) and trachea Intubation.

In the early hours of the next morning, Lee Jianxi's heart function improved and was transferred to Samsung Seoul Hospital.

　　Li Jianxi has been hospitalized for several years.

Since Lee Jianxi suffered a heart attack, Lee Jae-yong has been in charge of the company.

Li Jae-yong was born in 1968 and is the only son of Li Jianxi.

　　Although he has been ill in bed, according to statistics from CEO SCORE, a corporate management evaluation website, as of December 30, 2019, Li Jianxi’s stock assets were 17.6213 trillion won (approximately RMB 105.2 billion), a year-on-year increase of over 4 trillion won , Leading the South Korean stock market rich list for five consecutive years.

Samsung family management will end?

　　Samsung is the largest family business group in South Korea, but the succession model of the three generations of family management from founder Lee Byung-chul, to Lee Jian-hee, and then to Lee Jae-yong's grandson and grandson will probably end.

　　Since 2020, due to controversy caused by Samsung Group executives' involvement in inheritance issues, Lee Jae-yong apologized to all citizens in May.

Li Zaiyong said that the company failed to strictly abide by the bottom line of laws and ethics, and did not communicate well with the society, "Everything is my fault."

Data map: On February 5, 2018, local time, South Korea’s Samsung Group Vice President Lee Jae-yong left the Seoul Detention Center.

　　Li Zaiyong said that many problems have arisen from the succession of the company. From now on, there will be no more disputes over the successor issue, and there is no plan to hand over the management rights of the company to their children.

When it comes to company management, he said that he will listen to diversified voices and protect the rights and interests of employees.

　　This is not the first time Samsung has been involved in controversy in recent years.

In 2017, Lee Jae-yong was suspended for an incident involving the then-President Park Geun-hye’s “confidential involvement in politics”, but in 2019 the South Korean Supreme Court requested a retrial of the case.

　　On September 1, the Economic Crimes Department of the Central District Prosecutor's Office in Seoul, South Korea, filed a non-detention prosecution against 11 people including Lee Jae-yong on suspicion of illegal transactions, stock price manipulation and malfeasance.

After a lapse of 3 years and 6 months, Li Zayong was again accused in court.