How the Richest Family in Korea Built Samsung

Ep 82 of Family Business Stories with Fexingo unpacks how the Lee family turned Samsung from a small trading company in 1938 into the world's largest conglomerate by revenue. We focus on one pivotal moment: the 1987 succession from founder Lee Byung-chul to his son Lee Kun-hee, and the brutal management overhaul that followed. Lee Kun-hee's 'Second Foundation' speech in 1993—where he told executives 'change everything except your wife and children'—restructured the entire chaebol, killing failing businesses like car manufacturing and betting everything on semiconductors. We also trace how the current chairman, Lee Jae-yong, navigated a 2017 corruption scandal and a 2021 pardon to hold onto control. Plus, the strict inheritance taxes (up to 50% in Korea) forced the family to use complex stock swaps and foundations to preserve ownership. A masterclass in how one family kept power across three generations in the most competitive economy on earth. #Samsung #LeeFamily #KoreanChaebol #FamilyBusiness #Succession #LeeByungChul #LeeKunHee #LeeJaeYong #Semiconductors #SecondFoundation #InheritanceTax #CorporateGovernance #Seoul #Business #Finance #FexingoBusiness #BusinessPodcast #FamilyDynasty Keep every episode free: buymeacoffee.com/fexingo