Samsung chairman suffers major heart attack

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Lee Kun-hee, the 72-year-old chairman of the Samsung Group, is reportedly in stable condition after suffering a heart attack.

Lee is currently at the Samsung Medical Center after undergoing heart surgery following a resuscitation. He is one of the wealthiest men in Korea, having inherited the company from his father but led the transition in turning it into the Samsung of today: a company involved in everything from smartphones to ships. Despite ongoing lawsuits for patent infringements, Apple uses Samsung to manufacture its semiconductors.

But Lee is also a controversial figure with a criminal past. In 1996 he was among a group of high profile South Korean businessmen convicted of bribing former President Roh Tae Woo. In 2008 he was convicted of financial wrongdoing and tax evasion, following which he was fined close to $100 million. In 2010 a book written by Samsung’s former chief legal counsel claimed that Lee stole up to $8.9 billion from Samsung subsidiaries, along with destroying evidence, and bribing government officials to ensure the smooth transfer of power to his son.

We’ll keep you updated as the story develops.

Source: Fortune

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