Samsung family pays tribute to late founder

Samsung Group commemorated the 36th anniversary of the death of Lee Byung-chull, the founder of Korea’s largest conglomerate, in a memorial service Friday.

Lee's relatives, including former Leeum Samsung Museum of Art Director Hong ra-hee, Lee's daughter-in-law, and his two granddaughters Lee Boo-jin and Lee Seo-hyun, who are presidents of Hotel Shilla and Samsung C&T, respectively, paid tribute to the late founder, gathering at Hoam Art Museum in Yongin, Gyeonggi Province.

Chiefs of other conglomerates, including CJ and Hansol Group also paid tribute.

Lee Byung-chull kicked off his trucking business, Samsung Trading, in 1938 to develop it into the country's largest conglomerate. Lee passed away on Nov. 19, 1987. Samsung held the memorial ceremony on Friday as the anniversary falls on Sunday.

Samsung Electronics Chairman Lee Jae-yong, the founder's grandson, could not make it to the memorial service as he had to attend the final court hearing on the controversial 2015 merger of two Samsung affiliates, at the Seoul Central District Court.

The prosecution on Friday demanded five years in prison and a fine of 500 million won ($386,000) for Samsung Electronics Chairman Lee Jae-yong, who faces charges of stock price manipulation and accounting fraud.