The fall of a Korean legend: Samsung Lee Kang-hee dies, who inherits 26 billion inheritance is a question

  Original title: The fall of a Korean legend: The death of Samsung’s chairman Li Jianxi, who inherits the 26 billion inheritance is a question

   On October 25th, Korea’s Samsung Group chairman Li Jianxi passed away. He was 78 years old.

   Another legend in Korea has fallen.

   There is a widely circulated saying in Korea: There are three things that Koreans cannot escape in their lives: death, taxes and Samsung.

   In 1974, Li Jianxi suggested that Samsung enter the semiconductor industry, but his father refused. Lee Jianxi then used his personal assets to acquire a 50% stake in a South Korean semiconductor company, making it the predecessor of Samsung’s semiconductor division.

   In 1983, Li Bingzhe finally agreed with Li Jianxi’s judgment and began to continue to invest in the semiconductor business, which became Samsung’s subsequent myth in the semiconductor field.

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   In 1987, the board of directors unanimously approved the decision of Li Jianxi as the chairman of Samsung, and Samsung entered the era of Li Jianxi.

   Inside Samsung, it is said that when Li Jianxi spoke, almost no one dared to say “no”. It is undeniable that this kind of centralized management has made Samsung and Li Jianxi.

   In June 1993, Li Jianxi convened four meetings of the company’s management in Frankfurt. Li Jianxi’s speech was organized into the famous “Frankfurt Declaration” in Samsung’s history: establishing the new strategic goal of “Samsung” – to become a world-class super-class enterprise and to be among the top ten in the world in 2000.

   completely abandon the “quantity-centric” business philosophy, firmly establish the business philosophy of survival and development based on quality; reshape the “Samsung” image, establish a Samsung culture in line with the spirit of the times, and re-effects, Burial formalism.

  Li Jianxi gave the famous answer: “Except for wives and children, everything must change!”

  The direct result of the new business movement was that in July 1998, in Asia Samsung Electronics, which had a deficit of more than 170 billion won during the financial crisis, achieved a net income reversal of 3.17 trillion won in 1999.

   Centralized management has made Samsung and Li Jianxi, and it has also made Samsung and Li Jianxi full of controversy.

   Li Jianxi’s decision is not All are absolutely correct. In the late 1990s, his decision to invest hundreds of millions of dollars in the automobile business caused the established Samsung Motor Company to quickly become in debt and was forced to sell it to Renault Motor Company in 2000.

   Samsung Group Chairman Li Jianxi has a son and three daughters. Among them, the suicide incident of his daughter Li Yinxin in 2005 received the most attention. Li Yinxin is the youngest daughter in his family. She owned US$191 million in Samsung Group at the age of 20 and is one of the richest women in South Korea.

  The reason for Li Yinxin’s suicide is the emotional frustration that is common among wealthy families. The wealthy daughter fell in love with a poor boy. The strong opposition from the family made Li Yinxin despair. This loyal South Korean richest woman ended her 26-year-old life with a two-meter-long wire.

   In South Korea, the wealth of the Samsung family is quite strong. Samsung family shareholders occupy the most positions in the top ten. Samsung President Lee Jianxi and the eldest daughter of the Silla Hotel Representative Lee Fujin, second daughter of the Samsung Welfare Foundation Lee Su-hyun ranked 12th with a shareholding of 1.7217 trillion won. LG Chairman Goo Kwang-mo ranked 11th with 1.91 trillion won.

   22,327 listed companies in South Korea Among the shareholders, Samsung Chairman Lee Jianxi holds the highest market value, worth 17.6213 trillion won, leading the South Korean stock market’s rich list by absolute advantage.

   Judging from the changes in the market value of the shares held, Li Jianxi’s shares have increased the most from the beginning of the year, with a total increase of 4.422 trillion won, or about 26.1 billion yuan. Li Jianxi currently holds Samsung Life, Samsung Electronics, and Samsung Shares in many branches such as Wuchan and Samsung SDS.

   With his death, who inherited the estate is also a question.

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