Samsung family – ‘Upstream battle’ real life version: Chaebol also cried, not every money can buy happiness!

The largest conglomerate in Korea and the most powerful in Asia

Along with the strong economic development of the country of Kim Chi, the phrase “Chaebol” in Korea is gradually becoming a trend that is used more and more for noble families, large family corporations of Korea. Korea. Chaebol was instrumental in pulling Korea out of post-war poverty, rising to 13th in the world in terms of GDP. In addition to the economic, financial and social influence on Korea, the life behind the curtain of fame and fortune of the chaebol is also of great interest.

The Samsung family group is considered one of the first generation chaebols of Korea, circa 1950. At that time, Samsung was the richest and most influential corporation in the economy, politics and society. this country. Owner Lee Byung Chul comes from a wealthy landowner family, studied abroad in Japan but returned home midway through and decided to set up a business in the country. At the age of 26, Mr. Lee Byung Chul brought Samsung into the electronics industry in the late 1960s. In 1987, Samsung split into 4 groups – Samsung, Shinsegae, CJ, Hansol. Since the 1990s, Samsung has expanded its operations on a global scale. And focus on the field of electronics, mobile phones. Contributing mainly to the group’s revenue. The group currently has 6 design centers in Seoul, London, San Francisco, Shanghai, Tokyo and Delhi.

Up to now, Samsung Electronics Co. 1 in the list of Korea’s top 500 companies in 2021 in terms of revenue, at about 221 billion USD, far ahead of the group ranked 2nd with revenue of 93 billion USD.

The big battle for the fortune of the tycoon family

Wealth and prosperity are like that, but the lives of members of this tycoon family are also entangled in turmoil and disputes. More specifically, property disputes often arise when there is a conflict of interest. Even in ordinary families this happens, but on a smaller scale.

In Korea, where Chaebols are the backbone of the economy, the competition for wealth in the next generations is often fierce. Samsung family group is no exception to this case.

Lee Byung Chul, who founded Samsung in 1938 has 3 sons and 5 daughters. In particular, Lee Kun-Hee is the person with the greatest merit in promoting Samsung to become the largest corporation in Korea. He is considered to be the one who brought Samsung from unknown to the giant it is today.

He sought to attract talent from inside and outside Korea to work for Samsung, increasing investment in research and development activities, increasing marketing of new images, improving production processes, management, etc. This trend of change is now considered a success. Thanks to Kun-Hee, Samsung Electronics became the world’s leading chip maker and the second largest mobile phone maker, after Nokia.

Samsung family - 'Upstream battle' real life version: Chaebol also cried, not every money can buy happiness!  - Photo 1.

Realizing the outstanding management ability of his son Lee Kun-Hee, Mr. Lee Byung Chul went against the tradition of leaving the inheritance of the business to his eldest son, but instead gave the right to steer the boat. for his third son Lee Kun-hee. This is an important knot that causes twists and turns in the relationship of the Lee sisters.

More specifically, the matter began to heat up in February 2012, when Kun-Hee was accused by his brother and sister of concealing part of the shares of Samsung group left by their father in the names of others. Maeng-Hee said that after his father’s death in 1987, Kun-Hee took over this share, and automatically deprived them of the property they were entitled to. Lee Maeng-Hee’s brother asked the court to order Lee Kun-Hee to return his total value of money and shares up to 710 billion won ($624 million). Not only that, but Lee Sook-Hee’s sister also filed a lawsuit against her younger brother, asking for the refund of shares worth about 190 billion won ($167 million).

As for Lee Kun-Hee, although he asserted that he was not interested in this legal battle and that this was just a trivial matter, an informed source knew the truth that he had appointed a consultant to solve the case. , as well as his staunch declaration of “not giving a dime”.

Failed marriages – not every money can buy happiness

In addition to the fierce battle over property and inheritance rights of this cult rich family, the private life of family members is a subject that attracts a lot of public attention. Money can’t buy everything, no matter how rich or powerful you are. Even the chairman of Samsung, Mr. Lee Kun Hee, cannot buy happiness for his children.

The eldest son Lee Jae Yong with a failed political marriage

In 1998, Korea stirred up before the wedding of the century of Samsung heiress Lee Jae Yong and the daughter of Daesang food group, Im Se Ryeong. This is a marriage registration for Samsung as a famous corporation, Daesang is also the second largest food corporation in Korea.

Samsung family - 'Upstream battle' real life version: Chaebol also cried, not every money can buy happiness!  - Photo 2.

The marriage of “Samsung crown prince” Lee Jae Yong is a typical political marriage, arranged and matched between parents and parents of two families, without romantic dates because at that time Lee Jae Yong was preparing to earn a doctorate at Harvard and Lim Se Ryeong was 21 years old at the time, also in his sophomore year at Yonsei University. The two got engaged and got married quickly within just 5 months of dating.

Im Se Ryeong suddenly filed for divorce after 11 years of marriage with Lee Jae Yong in 2009 along with a request to raise children. Thought this would be a noisy divorce that consumed a lot of ink in the press, but only a week later, the two announced that they had reached a divorce agreement. The divorce has caused heavy damage to both corporations in general and Mr. Lee Kun Hee in particular. Mr. Lee Kun Hee was also hospitalized later because of shock.

The second daughter Lee Boo Jin gave up everything for love but ended up in a divorce

The second daughter of Lee Kun-Hee is considered a decisive and brave woman with incredible business ability. In 1999, while running the hotel, Shilla met Lim Woo Jae at a volunteer event, then just an ordinary IT worker. Soon after, they fell in love and decided to get married. Of course, the girl’s family strongly objected because in any respect, the two sides still did not sign up for them.

Samsung family - 'Upstream battle' real life version: Chaebol also cried, not every money can buy happiness!  - Photo 3.

At that time, Lee Boo Jin followed the call of his heart, determined to go against the wishes of his family. She even planned a hunger strike to protect her first love. Finally, the Lee family also had to give in, the wedding of Lim Woo Jae and Lee Boo Jin was held in August 1999.

Strong because of such love, but the marriage of the young lady with “Cinderella” could not last until the end of the road. In 2014, Mrs. Lee Boo Jin filed for divorce, many rumors suggested that the couple had actually separated since 2 years earlier. This divorce also cost the press a lot of ink and paper and attracted a lot of media attention. Both sides argued back and forth for more than 5 years before reaching a divorce agreement in 2017.

The youngest daughter Lee Yoon Hyung chose to leave as a way to free herself at the age of 26

Lee Yoon Hyung was the youngest daughter who was pampered by her father, even though she was very young, she soon entered the list of the richest women in Korea at that time. She used to attend Ehwa Women’s University and during her studies she fell in love with a commoner named Shin Soo Bin. However, Kun Hee’s father was vehemently opposed to this unscrupulous relationship.

Yoon Hyung studied abroad in New York in November 2005 and only 11 days after coming to the US, the whole Samsung family was shocked when they received the news that the girl had died in a foreign land. Samsung announced to the press that Yoon Hyung had a traffic accident. However, under the pressure of public opinion and the intense involvement of both Korean and American media, Mr. Lee Kun-Hee had to tell the truth that his youngest daughter died due to extreme self-selection. The reason for this choice is largely due to depression and does not rule out the possibility that she is too sad because of a forbidden love.

Samsung family - 'Upstream battle' real life version: Chaebol also cried, not every money can buy happiness!  - Photo 4.

Having a flashy, luxurious life, and getting whatever you want like a chaebol family must be the dream of many people, but the truth behind that part is extremely complicated and somewhat rotten. The details are thought to only exist in movies, but people also forget that movies are tools that reflect real life. The story of the chaebol’s private life certainly does not end here, it only reveals a very small part of the scandals that they did not promptly cover up. happy-go-lucky-20220517131238159.chn

yen Trang

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