Our top story this afternoon, Samsung Group's Chairman Lee Kun-hee died at the age of 78 on Sunday, after spending 6 years in hospital since he suffered a heart attack in 2014.
A four-day funeral is being held at the Samsung Medical Center in Seoul.
For more on this, we connect live to our Bae Eun-ji who is at the scene.
Eun-ji, tell us about the situation there.
Mark, I'm standing in front of the Samsung Medical Center in Seoul, where Samsung Group's Chairman Lee Kun-hee died on Sunday morning.
The hospital’s funeral hall is currently packed with reporters, as politicians and the former and current presidents of Samsung's affiliates have come to pay their respects.
As well as Samsung executives, Jung Ui-sun, the chairman of Hyundai Motor Group also visited the funeral hall just an hour ago.
Several politicians including Democratic Party leader Lee Nak-yeon have expressed their condolences as well.
President Moon Jae-in sent a floral tribute and a message of condolence to Lee's family saying that the late chairman's innovative leadership has inspired South Korean corporations today as they work hard to overcome the hardship during the COVID-19 pandemic.
Lee's death was also mourned by the International Olympics Committee as he had been an IOC member for more than a decade.
The IOC said Lee had made a great contribution to the Olympic Movement and the success of the Olympic Games.
Eun-ji, Samsung has reportedly said it will be a small funeral.
Can you give us more details about how the funeral is being held?
Sure Mark, Lee's body was placed in a coffin this morning at 9 AM.
Samsung said the funeral is being held privately following the wishes of Lee and his family.
The funeral is expected to be four days long, ending with Lee's burial on Wednesday.
As the number of visitors will be limited to fewer than 50 people as a precaution amid the COVID-19 pandemic, Samsung Group has set up an online memorial hall via the company’s internal system for the employees of Samsung.
That's all I have at this hour. Back to you Mark.