Lee Kun-hee, the late chairman of Samsung Group, will be remembered on October 25 for the sixth anniversary of his passing. His bold investments and technological innovations propelled the growth of South Korea's semiconductor industry, while his quality-focused management philosophy transformed Samsung into a global powerhouse. Additionally, his extensive collection of cultural artifacts and artworks is now showcased in major museums worldwide, promoting the value of Korean culture.
According to industry sources, Lee entered the semiconductor business in 1974 by investing his personal wealth into a struggling Korean semiconductor sector. At that time, the domestic electronics industry relied heavily on foreign technology for key components. Despite skepticism within Samsung about the potential for success, Lee pursued investments, believing that nurturing advanced industries was essential for enhancing South Korea's economic competitiveness.
Samsung made a significant move into the memory semiconductor market in 1983, following a declaration by founder Lee Byung-chul in Tokyo. That same year, the company successfully developed the 64K DRAM and, in 1992, became the first in the world to produce 64M DRAM. By 1993, just two decades after entering the semiconductor field, Samsung had claimed the top spot in the global memory semiconductor market.
The company's rise to the number one position was supported by a proactive investment strategy that continued even during economic downturns. In 1984, while competitors expanded their 4-inch wafer production lines, Samsung transitioned to 6-inch wafers. In 1987, when Japanese firms were scaling back semiconductor investments, Samsung built new production lines. According to Samsung Electronics, as of the second quarter of this year, the company holds a global market share of 39.4% in DRAM and 29.3% in NAND, maintaining its leading position.
Lee's management principles also emphasized proactive investment in future technologies and talent development. He foresaw the convergence of semiconductors, computers, software, and robotics, predicting shifts in industrial structure. In 1990, he introduced a regional expert system to help employees learn local languages, cultures, and markets, prioritizing capability over nationality in talent management to lay the groundwork for global expansion.
The 'New Management Declaration' announced in Frankfurt in 1993 marked a turning point for Samsung's management approach. The company shifted its focus from quantitative growth to quality-centered management, driving innovation across its organizational culture and production systems. A notable example of this commitment to quality management occurred in 1995 when Samsung disposed of approximately 50 billion won worth of defective products at its Gumi plant.
Lee's legacy also extends to the cultural and artistic realms. In 2021, his family donated over 23,000 cultural artifacts and artworks he collected throughout his life to institutions such as the National Museum of Korea and the National Museum of Modern and Contemporary Art. This collection includes works by prominent Korean artists like Kim Whanki, Park Soo-keun, and Lee Jung-seob. The cumulative attendance for domestic exhibitions of these donated items has surpassed 3.5 million.
Internationally, exhibitions continue to promote the value of Korean art. The 'KH Collection' traveling exhibition, which began in November last year at the Smithsonian National Museum of Asian Art in Washington, D.C., moved to the Art Institute of Chicago in March and is currently being showcased at the British Museum. The exhibition highlights the history of Korean art through Goryeo celadon, Joseon-era paintings, and modern and contemporary art.
Lee Kun-hee became the second chairman of Samsung Group in 1987, leading the development of advanced industries and management innovation, particularly in semiconductors. He passed away on October 25, 2020, after battling health issues following a heart attack in 2014. As the sixth anniversary of his passing approaches, his contributions to enhancing industrial competitiveness and preserving cultural heritage are being revisited.
* This article has been translated by AI.
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