South Korea's Samsung Group Chairman Lee Kun-hee died on Sunday, Samsung said. He died with his family, including Vice Chairman Jay Y. Lee, by his side, the conglomerate said.

Iran Press/Asia: Lee, who was 78, helped grow his father Lee Byung-chull's noodle trading business into South Korea's biggest conglomerate. His death came more than six years after he was hospitalized for a heart attack.

"Chairman Lee was a true visionary who transformed Samsung into the world-leading innovator and industrial powerhouse from a local business. His 1993 declaration of 'New Management' was the motivating driver of the company’s vision to deliver the best technology to help advance global society," Samsung said in a statement.

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