Mid-sized Companies Say "Chairman Lee Kun-hee Was a Cherished Friend and Senior"

Junggyeonryeon Issues Condolence Statement 'Mourning the Passing of Lee Kun-hee, Chairman of Samsung, a Great Star'

[Asia Economy Reporter Kim Cheol-hyun] The mid-sized enterprise sector mourned the passing of Samsung Chairman Lee Kun-hee. The Korea Federation of SMEs (Korea Federation of SMEs) issued a condolence statement on the 26th, saying, "In the chaos of COVID-19, where it is difficult to even gauge the direction and timing of economic recovery, we are deeply saddened to learn of the passing of Samsung Chairman Lee Kun-hee, a clear guiding figure for Korean entrepreneurs."

The Federation stated, "Even while bedridden, Chairman Lee was, before being an individual, a symbolic embodiment of Samsung, a top-tier global company, and a precious friend and senior who supported and shared the burdens of many mid-sized entrepreneurs," adding, "His challenges and achievements, which proactively set global standards for industrial development at the forefront of South Korea's economic growth, have borne great fruit as a foundation for national and social prosperity."

Furthermore, the Federation recalled, "Since assuming the chairmanship in 1987, Chairman Lee's continuous dedication laid the groundwork for elevating South Korea's global economic status beyond the 1980s, remembered for CRT TVs and electric rice cookers, to innovative mobile and advanced semiconductor industries," and "In particular, the 1993 New Management Declaration, which called for changing everything possible, was a signal for enhancing Samsung's competitiveness through high-quality management and a powerful wake-up call urging innovation from all entrepreneurs as a collaborator in changing the landscape of the Korean economy."

The industry also said, "As a partner who has always accompanied the path of South Korea's economic development driven by Samsung's growth, the mid-sized enterprise sector deeply mourns Chairman Lee's passing and extends condolences to his bereaved family and Samsung employees." The Federation added, "We hope that the passing of this great figure will prompt reasonable social discussions on the essence and value of companies, the core of the economy, and based on this, institutional and cultural innovations will be pursued to lead the re-leap of South Korea's economy in the post-COVID era."

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