The president of Samsung Electronics Lee Kun-hee, 78, died on Sunday, according to the South Korean company.
Lee, who turned the group into a global communications giant, has been bedridden since he had a heart attack in 2014.
"It is with great sadness that we announce the death of Lee Kun-hee, president of Samsung Electronics," the company said in a statement.
"President Lee passed away on October 25," she added, noting that he was surrounded by his family, including company vice president Jay Y Lee.
"President Lee was a true visionary," the company added. "He has transformed Samsung from a local company into a global leader in innovation and industrial strength," stressing that "his legacy will be eternal."
