Samsung chairman Lee Kun-hee, who recently suffered from a heart attack, was moved to a general ward from an intensive care unit at Samsung Medical Center in Seoul on Monday as he is in very stable condition, according to the hospital and Samsung Group on Tuesday.

“The chairman is recovering at a fast pace and all test results show that he is in stable condition,” the two sides said in a statement.

The latest development came nine days after he had the attack on May 11.

SMC said Monday it was considering transferring him to the general ward, dispelling the recent rumors that the chairman was in serious condition, or had even died.

It has not been confirmed yet, however, whether he has regained consciousness or not.

Lee is reportedly staying at the VIP ward on the 20th floor of the medical center.

No one can enter the VIP ward without permission.

Lee’s VIP room is said to be equipped with a wide range of medical devices, including life support equipment.

Lee’s wife Hong Ra-hee, only son Jay-yong, and two daughters Boo-jin and Seo-hyun are reportedly staying with the Samsung chairman.

After Lee reportedly had difficulty breathing and chest pains late at night on May 10, he was taken to a hospital near his home in Hannam-dong, central Seoul, and received cardiopulmonary resuscitation.

He was then taken to Samsung Medical Center, where he underwent a cardiac procedure early Sunday morning to widen his arteries.

Korean and foreign news media have been increasing reports on Lee’s life and Samsung Group since he was hospitalized.

The conglomerate’s sales increased to 380 trillion won ($372 billion) last year from 14 trillion won in 1987 when he took the helm of the company, according to news reports.

Samsung Group has grown more than 300 times in market value to 312 trillion won last year from 1 trillion won in 1993.

By Kim Young-won (wone0102@heraldcorp.com)