Samsung’s second-generation head Li Jianxi has passed away at the age of 78! Where is the Samsung Empire going?

  Original title: Samsung’s second-generation leader Lee Kin-hee has passed away at the age of 78! Where is the Samsung Empire going? Source: e company official micro

   On October 25, according to Yonhap News, South Korea’s Samsung President Lee Jianxi passed away at the age of 78.

   Lee Kin-hee was hospitalized at Samsung Seoul Hospital due to acute myocardial infarction in May 2014. It is reported that he can still breathe spontaneously until recently, wake up for 15-19 hours a day and continue to receive rehabilitation treatment, but his condition deteriorated later , After the rescue failed, died on the 25th.

   Lee Jianxi has been treated in the hospital since his illness in 2014, and his only son, Lee Jae-yong, became the actual controller of the Samsung Group. It is worth noting that on May 6 this year, Samsung Electronics Vice President Lee Jae-yong admitted that the many disputes surrounding him and the company were ultimately caused by the succession issue, and for the first time announced that he would not hand over the management of the company to his children. inherit. This means that from the founder Li Bingzhe to Chairman Li Jianxi and then to the grandfather and grandson of Li Jae-yong, the three-generation family management blood succession model has ended.

  The end of three generations of family management

   According to public information, Li Jianxi was born in 1942, the third son of Samsung founder Li Bingzhe, and the second chairman of the Samsung Group.

   Graduated from the Department of Economics, Waseda University, the first private university in Japan in 1965. In 1966, he completed the Master of Business Administration in George Washington, USA. In 2000, he became an honorary doctor of business administration at Seoul National University.

   On the list of “Hurun Top 100 Global Entrepreneurs” in 2020, Li Jianxi ranked 97th with a fortune of RMB 92 billion, making him the richest man in South Korea. He is also known as the “Economic President” because he ranks at the top of the South Korean rich list all year round.

  李健熙

   Lee Kin Hee has been the chairman of Samsung Group since 1987. At the 50th anniversary celebration the following year, he announced Samsung’s “second entrepreneurship” strategy. Subsequently, under the leadership of Li Jianxi, Samsung transformed from a low-quality large-scale manufacturer to one of Asia’s most valuable technology companies.

   In 2008, Li Jianxi announced his resignation as chairman, but returned to Samsung’s management in March 2010. The reason is that on July 16, 2008, Lee Jianxi was prosecuted for illegal transfer of business rights and tax evasion, and was sentenced to 3 years in prison by the Central Branch Law of Seoul, South Korea, with a suspension of 5 years.

   December 31, 2009 Li Jianxi received an amnesty from the President of South Korea, under the name “to help South Korea bid for the 2018 Winter Olympics”, and was able to return to Samsung’s management in 2010.

   Li Jianxi and his wife have 4 children: only son Li Zaiyong and 3 daughters Li Fuzhen, Li Xuxian and Li Yinxin. Among them, Lee Jae-yong, the vice chairman of Samsung Electronics, was arrested by the South Korean prosecutor on June 4, 2020, on suspicion of improper transactions.

   Li Zairong

   Li Fuzhen

   as South Korea’s largest conglomerate, Samsung’s successor issue caused concern in 2014 because of Lee Jianxi’s illness.

   On the evening of May 10, 2014, he was sent to the hospital for emergency treatment due to a heart attack. It was not until January 2015 that he regained consciousness. He was still in bed until 2016, and Lee Jae-yong became the actual controller of Samsung Group. .

   On May 6 this year, Samsung Electronics’ vice chairman Lee Jae-yong took the initiative to speak on taboo topics within the group and announced that he would not let his children inherit the right to operate. This means that from the founder Li Bingzhe to Chairman Li Jianxi and then to the grandfather and grandson of Li Jae-yong, the three-generation family management blood succession model has ended.

   Li issued a letter of apology to the whole people on the same day that he would not let his children take over. This is a long-standing idea. He stated at a congressional hearing in December 2016 that he would be willing to let a good man at any time, but it was the first time that he officially stated his position on the succession issue. He emphasized that it is his responsibility and mission to recruit talents regardless of gender, education, nationality, and to let them work hard with a sense of ownership and lead their careers, so that Samsung can continue to be a Samsung.

   It is worth noting that Lee Jae-yong was divorced in 2009 and currently has one child and one daughter. His son Lee Ji-ho is 20 years old and his daughter Lee Yeon-hyun is 16 years old. They are not currently involved in Samsung affairs.

   Yonhap News Agency’s latest report shows that Samsung Electronics’ Vice Chairman Lee Jay-yong inspected Samsung’s factories in Hanoi and Ho Chi Minh, Vietnam from October 19 to 22.

  Leading Korea’s economy

   In Korea, Samsung is a godlike existence. It is even called “half Korea.”

   In March 1938, Li Bingzhe founded Samsung Trading Company in Daegu, South Korea. At that time, Samsung was just a grocery store selling noodles and rice cakes. By the end of the 1960s, Samsung was involved in textiles, fertilizer and retail businesses. Samsung Electronics was established in 1969. At that time, it was able to manufacture electronic products such as TV sets by taking advantage of the transfer of American and Japanese industries.

   After years of development, the Samsung Group currently operates in a wide range of fields such as electronics, finance, insurance, biopharmaceuticals, construction, chemical industry, and medical care. According to the “2020 Global Best Brands” ranking released by the international brand consulting agency Interbrand on October 20, Samsung Electronics ranked fifth with a brand equity value of US$62.3 billion, becoming the first Korean company to rank among the top five. Second to Apple, Amazon, Microsoft, and Google.

   At present, Samsung Group’s subsidiaries include Samsung Electronics, Samsung Display, Samsung Electro-Mechanics, Samsung C&T, Samsung Heavy Industries, and Samsung Life, among which at least three subsidiaries are selected by the US “Fortune” magazine Ranked among the world’s top 500 companies.

   Among them, Samsung Life is South Korea’s largest life insurance company; Samsung C&T is South Korea’s largest construction company, and landmark buildings such as Burj Khalifa, Kuala Lumpur Twin Towers, and Taipei 101 are all its works; Samsung Heavy Industries’ shipyard It is the largest shipyard in South Korea, capable of building more than 40 thousand tons of freighters every year. In addition, South Korea’s largest arms dealer is also Samsung, which can manufacture tanks, armored vehicles, and fighter jets.

   “There are three things that Koreans cannot avoid in their lives: death, taxes, and three stars.” This is the best description of the dominance of the Samsung Empire.

   On December 9, 2012, the Washington Post of the United States published a report titled “South Korea, the Republic of Samsung”, stating that Samsung was “large in scale and pervasive in power, and it was South Korea’s greatest economic achievement. , But it is also the most controversial”, citing the words of Yu Seok-hoon, the host of the Korean Economic Digital Broadcasting Program: “You can even say that the power of the chairman of the Samsung Group is greater than that of the president of the Republic of Korea; the Korean people already think that Samsung is unmatched and superior. Above the law.”

  Extensive layout of China’s industrial chain

  Samsung Group has an extensive industrial layout in China.

   Samsung entered the Chinese market when China and South Korea established diplomatic relations in 1992. In recent years, Samsung has invested in display panels, storage semiconductors, mobile phones, and automotive energy to build high-end factories in China, while also investing There are nine research institutes, and only four are related to mobile phones.

  According to statistics, Samsung has established seven branches in North China, Central China, East China, South China, Northeast China, Northwest, and Southwest China, forming 14 production bases, 10 R&D bases, 11 sales bases, and 4447 services. The comprehensive system including the center has approximately 60,000 employees, accounting for 21% of global employees, and a total of 38 offices have been established.

   Although Samsung closed all mobile phone factories in China before 2020, Samsung immediately announced its decision to entrust 20% of the 300 million smartphones produced annually, or 60 million, to China Enterprise production is no longer handed over to branch factories around the world.

   In this context, Samsung has many supply chain partners in China. In the field of mobile phones alone, dozens of domestic ODM and component manufacturers have entered the Samsung mobile phone supply chain. According to reports, domestic manufacturers currently entering the Samsung mobile phone supply chain include listed companies such as Hixih Technology, Wingtech, Guangxin Materials, Changyang Technology, Double Star New Materials, Smart Power, Tongxingda, and Zhuoshengwei. There are dozens of components including PCB boards, housing structural parts, optical film screens, earphones, materials, and accessories.

   is not only mobile phones, but Samsung’s home appliances, displays, storage and other businesses are also widely deployed in China. According to data, from 2013 to 2018, Samsung Electronics’ new investment in China has reached 22.8 billion US dollars, equivalent to 160 billion yuan. Among them, the proportion of investment in high-end industries soared from 13% to 55%. The investment in technology projects such as semiconductor memory chips, LCD panels, and power batteries exceeds US$20 billion.

   Taking memory chips as an example, Samsung Electronics’ NAND flash memory chip factory put into production in Xi’an, built the first phase of the project with 10.8 billion U.S. dollars in 2012, followed by an additional 7 billion U.S. dollars for the second phase of investment in 2017. In response to the rebound of the global memory chip market in 2020, Samsung announced an additional US$8 billion investment in Xi’an last year, and a total of US$15 billion has already been invested.

  According to Samsung Electronics’ 2018 Economic Report, its 2018 revenue in China was 43.2 trillion won, accounting for 18% of global revenue.

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