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Monday, March 4, 2013

Feroz family fight for control of Samsung


A serious family dispute has been about what the multinational Samsung and the Korean War, and the constant nuclear threats from neighboring North Korea, and the global economic crisis, or the patent lawsuit that Apple introduced: destabilizing. The economic empire that generates 20% of the wealth of the world economy and the fifteenth is the largest seller of phones in the planet, attends a media legal fight between brothers who want to keep control of the company. The conglomerate is a powerful local family that has presence in different economic sectors. The founder of Samsung,  Lee Byung-chul , in 1987, left a will that  divided his property among his three daughters and five sons , delegating the management of the company's current president and favorite clan, Lee Kun Hee. Although the wishes of the deceased were held for years despite internal squabbles, in 2012 two of the heirs, Lee Maeng-hee, 80, and her sister Hee Sook Lee, 76, opened the court fight : sued his brother and demanded million shares of Samsung Life Insurance, the company through which it exercises control over the entire conglomerate. The domestic disturbance call 'Republic of Samsung' began when the South Korean heir emporium, was sentenced to three years in prison in 2008 for evading $ 45 million in taxes. Thanks to a company lawyer, you knew then that Hee used large amounts of money in bribes to politicians, journalists and prosecutors. However, in a controversial decision, the employer of 71 years was f inally pardoned by the government to consider its work in the country has been "in favor of economic and sporting interests" of South Korea. The act of "understanding", quite common in China with business leaders, gave him control of the company in 2010. Lee Maeng-hee , said he was forced to break family harmony and go to court to halt the boundless greed of his brother, because this hid a part of the heritage in the distribution of goods "to avoid to distribute it. " "Kun-hee has aggravated the differences between siblings to always worry for their own benefit," he said in his complaint that was dismissed by a judge in early February, arguing that within 10 years to claim an inheritance had expired. "I will not give a penny. Everything was arranged in due course," replied Lee Kun Hee, who accused his brother of disloyalty to his late father by not honoring their wishes .Said her sister betrayed the damilia at marriage on one of the strong men of the clan who runs Keumsung LG, the other major multinational electronics and the country's main competitor Samsung. The brothers have appealed and plan to continue the battle for the largest electronics manufacturer in the world that has more than 80 divisions making everything from washing machines to artillery.

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