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Samsung Chairman is Sued by His Own Brother

Posted by | Posted in News | Posted on 15-02-2012 | comments: 0

Contact with Fred Burns: +Fred Burns
Mr. Hee

Samsung is one of the biggest technology manufacturers in the world. The annual turnover for 2010 is over $200 billion and 17 % increase of that for 2011. At the moment the company is competing with Apple for the leadership in the smartphone sector. However, the big money are capable to separate the people no matter how close they are. At the moment mr. Lee Maeng Hee who is the brother of the current Samsung’s boss sues him for over $500 million. The reason for the trial is that in 1987 when the founder of the company died, according to the law his fortune had to be separated equally between his sons, but mr. Maeng-Hee says that his brother mr. Lee Kun-Hee took all the shares and left none for him.

Who is right and who’s wrong, this is up to the court to decide but the facts show that the current chairman of Samsung is the richest man in South Korea and one of the richest in Asia. His own fortune is around $7 billion. However, his kids and relatives also have big amounts of money in their bank accounts, which also come from Samsung.

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