Lee Jae-Yong, Chairman of Samsung Electronics, and other key executives gathered to honor the late Lee Kun-Hee, former chairman of Samsung Group, on the sixth anniversary of his passing. Lee returned to South Korea on the 23rd after a business trip to the United Arab Emirates and visited the family gravesite immediately after.
According to industry sources, Samsung held the memorial service at the Suwon gravesite ahead of the anniversary on the 25th. Lee arrived at the gravesite around 8:40 a.m., bowing twice before the grave and offering a moment of silence. He then poured a drink around the grave as a tribute.
At approximately 9:38 a.m., over 50 current executives, including Jeon Young-Hyun, CEO of Samsung Electronics and head of the Device Solutions (DS) division, and Roh Tae-Moon, CEO and head of the Device Experience (DX) division, visited the gravesite. Family members, including Hong Ra-hee, honorary director of the Leeum Samsung Museum of Art, Lee Boo-jin, president of Hotel Shilla, Lee Seo-hyun, president of Samsung C&T, and Kim Jae-yeol, president of Samsung Global Research, were also expected to pay their respects. More than 100 former executives are scheduled to visit the gravesite separately in the afternoon.
This year's memorial service comes just four days before the fourth anniversary of Lee Jae-Yong's appointment as chairman of Samsung Electronics, a position he assumed on October 27, 2022. At the previous memorial service, he emphasized the need for boldness and preparation during challenging times.
This is also the first memorial service since the family completed the payment of approximately 12 trillion won in inheritance taxes, which they have been paying in installments since 2021 over five years.
After the memorial, Lee and the executives are expected to have lunch at the Samsung Human Resources Development Center in Yongin, Gyeonggi Province. With Samsung Electronics recovering its performance amid improving semiconductor market conditions, there is keen interest in whether Lee will convey any specific management messages during the lunch. However, it remains unclear if any formal management announcements will be made.
On October 28, a memorial concert for the sixth anniversary of Lee Kun-Hee's passing will be held at the concert hall of the Samsung Electronics Human Resources Development Center in Yongin. Samsung has hosted this annual concert attended by family members, key executives, and employees to honor the late chairman. This year, it is expected that the chairman's family and major executives will also be in attendance.
Lee Kun-Hee became the second chairman of Samsung Group in 1987 and was credited with driving management innovation through his New Management Declaration in 1993, transforming Samsung into a global enterprise. He passed away on October 25, 2020, at the age of 78 after battling health issues following a heart attack in 2014.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.