Samsung chairman hospitalized after receiving CPRSouce:Xinhua Publish By Loretta S. Mcintyre Updated 11/05/2014 7:43 pm in Business / no comments
Samsung Electronics chairman Lee Kun- hee was hospitalized Saturday night for a health problem after receiving a cardiopulmonary resuscitation (CPR), local media reported Sunday.
Samsung officials said that Lee, 72, was admitted to a hospital near his home in central Seoul Saturday night to receive CPR before being moved to Samsung Medical Center, controlled by Samsung Group, South Korea’s largest conglomerate.
Lee was said to have no respiratory problem now and in a stable condition.
Lee, Samsung Group’s de facto chief, had lung surgery in late 1990s and has had respiratory complications since then. He was hospitalized for some 10 days in August last year at the Samsung Medical Center for the respiratory problem.
The health problem and old age of Lee speeded up the ownership transfer of the conglomerate from the chairman to his children.
Samsung SDS, the information technology unit of Samsung Group, said on Thursday it will go public by the end of this year, helping Lee’s three children secure funds necessary to take control of the group’s affiliates.
Samsung Electronics was the largest shareholder of Samsung SDS with a 22.58 percent stake as of the end of last year, followed by the group’s construction and trading unit Samsung C&T with 17.08 percent.
Lee’s only son Jae-yong, Lee’s heir apparent, had an 11.25 percent stake, with his two daughters holding a 3.9 percent stake respectively.
Samsung SDS was traded at 149,500 won (145 US dollars) per share in the over-the-counter market on Thursday. The total value of the company was estimated at 11.57 trillion won (11 billion US dollars).
The IT firm posted a net profit of 326 billion won last year.