Academics applaud Late Samsung Chairman Lee Kun-hee’s legacy

[Photo by Yonhap]

The legacy of the late Chairman Lee Kun-hee of South Korea’s Samsung Group and his visionary leadership were recognized by academics from home and abroad during an international conference that took place in Seoul on Wednesday to commemorate three years since Lee’s passing.

During the conference, hosted by the Korean Academic Society of Business Administration (KASBA) and sponsored by Samsung Global Research, participants praised Lee’s leadership, noting that it paved a path to the future not only for his own business but also for the country amid economic and geopolitical uncertainties.

The conference was also held to mark the 30th anniversary of the late chairman’s declaration of “new management” in Frankfurt, Germany, with the goal of pursuing management innovation.

Over 300 domestic and international scholars, as well as Samsung Group employees, including KASBA President Kim Jae-gu and Ho-am Foundation Chairman Kim Hwang-sik, attended.

Taking the stage as a speaker, Professor Scott Stern from the MIT Sloan School of Management defined the legacy of the late Lee as leadership to “create beyond the possible.”

In his analysis of Samsung Group’s success in the fields of semiconductors, mobile technology, and displays, Stern noted that the core of Lee’s leadership lay in his ability to envision possibilities beyond conventional limits. He pointed out that Lee’s leadership played a pivotal role at critical moments in Samsung’s history.

Lee’s philanthropic efforts were also praised. “History evaluates entrepreneurs and leaders of large corporations who exhibit philanthropic characteristics as embodying the spirit of their times,” said Kim Sang-keun, a Professor of Mission Studies at Yonsei University.

“Lee donated over 23,000 personal art pieces to national institutions and contributed over 1 trillion won ($738 million) to support the fight against infectious diseases, pediatric cancer, and rare diseases,” Kim added.

Various opinions were shared by scholars on Samsung Group’s future and challenges.

Professor Rita McGrath from Columbia Business School stated that Samsung Group should adapt its management approach to the present time while building on the existing approach.

Professor Patrick Wright, a Management expert from the University of South Carolina, discussed the new business environment, working methods, and the role of human resources.

Professor Kim Tae-wan from Carnegie Mellon University emphasized the importance of leadership for sustainable management.