Samsung chairman Lee Kun-hee dies after long illness

Lee Kun-hee, the controversial yet legendary business titan who led Samsung’s rise from a modest South Korean company to a multinational conglomerate, died Sunday at the age of 78.

“All of us at Samsung will cherish his memory and are grateful for the journey we shared with him,” the company said.

Chairman Lee had been incapacitated for many years after he suffered a heart attack in 2014, which forced him to withdraw from public life. His son and vice-chairman of the company, Lee Jae-Yong, also known as Jay Y. Lee has been widely expected to take his father’s position.

However, Lee has been involved in controversies time and time again. In 1995, he was found guilty of bribing President Roh Tae-woo through a slush fund, and in 2008 he was accused of tax evasion and embezzlement of funds. He was formally pardoned for each conviction.

It’s not clear who will eventually inherit Lee’s shares in the conglomerate. Lee owns more than 4% of Samsung Electronics, more than 20% of Samsung Life Insurance, and nearly 3% of Samsung C&T, a construction and investment entity. His shares are worth billions of dollars.

Lee’s father, Lee Byung-Chul, created Samsung in the 1930s as a small trading company and steadily expanded into retail, electronics, and other fields.