SEOUL, South Korea (AP) — Samsung says Lee Kun-Hee, the ailing chairman of Samsung Electronics, has died.

A Samsung statement says Lee died on Sunday with his family members, including his son and de facto company chief Lee Jae-yong, by his side.

Lee Kun-Hee had been hospitalized for years and the younger Lee has been in charge of company affairs.

It says “all of us at Samsung will cherish his memory and are grateful for the journey we shared with him.”

From a local business, Lee Kun-Hee had transformed Samsung into the world-leading innovator and industrial powerhouse.