Samsung Electronics Lee Kun-hee chairman has died, the company has announced in a statement. He was 78.

Controversial figure who turned Samsung into a global tech power
Photo credit should read JUNG YEON-JE/AFP/Getty Images
Samsung Electronics has announced the death of its chairman, Lee Kun-hee. The company says he died on October 25th with family including his son, vice-chairman Lee Jae-yong, at his side. He was 78.
A cause of death was not given, but Lee had been incapacitated for many years after suffering a heart attack in 2014, causing him to withdraw from public life. Jae-yong, also known as Jay Y. Lee, has been widely assumed to take over upon his fathers passing and has been viewed as the de facto leader in recent years.
The motivating driver of the companys vision
Lee Kun-hee was a controversial figure who played a huge part in pushing Samsung from a cheap TV and appliances maker to one of the most powerful technology brands in the world. He became the richest man in South Korea, with the Samsung group contributing around a fifth of the countrys GDP. In its statement, Samsung says that Lees declaration of new management in 1993 was the motivating driver of the companys vision to deliver the best technology to help advance global society.
Lee also found himself in legal trouble. He was found guilty of bribing President Roh Tae-woo through a slush fund in 1995, and of tax evasion and embezzlement in 2008, but was formally pardoned for each conviction. The second pardon came in 2009 and was made so that Lee could take back his place at the International Olympic Committee and form a better situation for the 2018 Olympics to take place in Pyongchang, South Koreas justice minister said at the time.
Lees passing will reignite inevitable speculation over the succession process. While Lee Jae-yong has long been groomed to become chairman, hes had legal issues of his own since his fathers incapacitation, spending almost a year in jail for his role in the corruption scandal that brought down former South Korean president Park Geun-hye. South Korean law also means that anyone assuming Lees assets will face paying several billion dollars in inheritance tax, which may force them to reduce their stake in the company.