Lee Kun Hee

While we were interviewing Tim Baxter for our Hall of Fame profile, we asked him to name one of the most important lessons he has learned while working at Samsung: “Stay hungry,” he said.

Samsung Electronics Co. Chairman Lee Kun Hee will retain control of Asia's biggest consumer- electronics maker after a court rejected relatives' bids for a 4.1 trillion-won ($3.7 billion) stake in the family group.

The brother, sister and three other family members of billionaire Lee, 71, failed to prove they should be given the stakes in Samsung Electronics and Samsung Life Insurance Co., the Seoul District Court ruled today.

The family feud comes as Samsung Electronics barrels ahead of Apple Inc. Sony Corp. and Panasonic Corp. as the world's biggest maker

Samsung unveiled its upcoming flagship product yesterday: Lee Jae Yong. He's the son of company chairman Lee Kun Hee, the billionaire who transformed the former fish exporter into Asia's largest consumer-electronics company.

Yesterday's promotion of Lee Jae Yong to vice chairman signals his role as successor to his 70-year-old father, my colleague Jungah Lee reported in Bloomberg News. The elder Lee is chairman.

Even with the Lee family's iron grip over the South Korean tech giant, engineering a next-generation business leader is no small endeavor. The development process was two decades

During his long and controversial career, Samsung Electronics Co. Chairman Lee Kun Hee has transformed his family's dried-fish and produce company into the world's biggest maker of TVs and mobile phones, challenging Apple Inc. and Sony Corp. in the process. Now he must contend with feuding siblings.

Billionaire Lee, 70 years old and South Korea's wealthiest citizen, is facing down lawsuits that his older brother and sister are waging in an attempt to win a slice of the family wealth. Lee Byung Chul founded what is today South Korea's biggest business group

Lee Kun-hee, the chairman of the largest South Korean business conglomerate, Samsung, and the country's richest man, is not known for being talkative. Partly because of his reticence, what few public remarks he makes are studied by his reverential employees with the same zeal that devout Christians might apply when parsing biblical quotations.

These days, however, Mr. Lee, 70 - perhaps the country's most exalted business leader - is displaying a wholly different side, allowing himself to be caught up in a spectacular, all-too-public squabble with his elder brother and a sister

Samsung Electronics said it's in a ''delicate situation'' with Apple in a patent battle that encompasses 30 different cases worldwide.

The world's biggest technology firm has suffered a legal setback in the Netherlands, where a court sided with its California-based rival on a ''FRAND'' (fair, reasonable, and non-discriminatory terms) patent dispute that was regarded to be a precedent-setting ruling.

''I can't talk about the ongoing patent disputes with Apple for strategic reasons,'' Samsung CEO Choi Gee-sung said in response to a question at the firm's annual shareholders' meeting

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