South Korea: A feud has erupted amongst the members of owner family of Samsung Electronics over the resources of conglomerate and they are preparing to take an inheritance battle to court, media reports said on Tuesday.
According to the reports, Lee Kun-hee, chairman of Samsung Electronics Co., which is the flagship company of the Samsung conglomerate, is facing off against his older brother, a sister and a nephew’s wife who all want a bigger piece of the Samsung cake.
Lee, who is South Korea’s wealthiest individual, on Tuesday publicly attacked his brother, Lee Meng-hee that he has been already kicked out from our home.” Lee Meng-hee had earlier called his brother “greedy” and “childlike.”
Lee Meng-hee filed a lawsuit in February, demanding more than 700 billion won ($613 million) of shares in Samsung Life Insurance Co. and other companies. Similar claims followed by Lee’s older sister and the wife of a dead nephew.
Lee Kun-hee, the third son of Samsung founder Lee Byung-chull, was tapped in 1979 by his father to lead what would become South Korea’s most valuable company. The decision apparently disappointed Lee Meng-hee who later wrote in his autobiography that he had thought his father would turn over the throne to him, AP news agency said.