The Samsung Group reportedly decided that there shouldn't be a separate event to mark the 21st anniversary celebration of the New Management Declaration Day this year, on account of Samsung Chairman Lee Kun Hee still lying in a hospital bed.

Lee, who is 72, was hospitalized at the Samsung Medical Center in Seoul on May 10, after suffering a heart attack.

June 7 will mark the 21st year since Lee unveiled his New Management Declaration that changed the future of Samsung, according to the Korean news publication Newsway.

"Change everything but your wife and kids," announced Samsung Chairman Lee Kun Hee in the document, released on June 7, 1993.

Lee's New Management Declaration is credited with launching a companywide strategy that helped make Samsung one of the biggest electronic companies in the world.

Last year, a huge ceremony was organized to celebrate the 20-year-mark of the Declaration.

This year will be quite different; all celebrations will be done quietly within Samsung as the company awaits Lee's recovery.

The chairman reportedly regained consciousness on May 25 for the first time since being hospitalized. According to reports, Lee first awoke after hearing baseball player Lee Seung Yeup hit a homerun while his family was watching the game in his hospital room.

After moving from the intensive care unit to a VIP hospital room on May 19, chairman Lee's condition has improved considerably, according to Samsung officials.

Company executives have remained positive in regards to news of Lee Kun Hee's health, according to the Korean publication Seoul Newspaper.

"The chairman is showing a stronger response to external stimuli. Medical professionals are seeing that as a good sign," Samsung Communications Director, Lee Jun, said last week.