Chairman of South Korea's biggest conglomerate Samsung, Lee Kun-hee died on Sunday at 78, six years after he was hospitalised for a heart attack. Lee inherited the chairmanship in 1987 and made Samsung one of the largest producers of smartphones under his leadership. Since the heart attack, his son Samsung Electronics Vice Chairman Lee Jae-yong had been at the helm.
Samsung Chairman Lee Kun-hee, who died at the age of 78 on Sunday, has left behind assets reportedly worth $20.9 billion. The inheritance will be subject to 50% inheritance tax as per South Korea's tax rules. Lee was South Korea's richest man and had stakes in Samsung companies valued at about $16.1 billion as of Friday’s closing price.