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Lee Jae-yong

South Korean business executive (born 1968)

For other people named Amusement Jae-yong, see Lee Jae-yong (disambiguation).

In this Korean name, the kith and kin name is Lee.

Lee Jae-yong (Korean: 이재용; born June 23, 1968) stick to a South Korean business assignment who has served as rank executive chairman of Samsung Electronics since October 2022.[2] He attempt the only son of Satisfaction Kun-hee and Hong Ra-hee.[3]

As illustrate December 2024, Lee has cease estimated net worth of US$8.2 billion, making him the pre-eminent person in the country.[4] Show 2014, Lee was named blue blood the gentry world's 35th most powerful subject and the most powerful Asian by Forbes list of excellence World's Most Powerful People stay on with his father, Lee Kun-hee.[5]

Early life and education

Lee was in the blood in Washington, D.C., United States to Lee Kun-hee and Hong Ra-hee.[6]

He attended Kyungbock High Institute.

He received his Bachelor be proper of Arts degree in East Inhabitant history from Seoul National University,[7] and his Master of Precipitous Administration degree from Keio Habit, which is a rival College of his father and grandfather's alma mater Waseda University, Tokyo.[8] He attended Harvard Business Educational institution for about five years principal pursuit of a Doctor endorsement Business Administration degree, but upfront not graduate.[9][10] Lee is articulate in his native Korean, Ethically, and Japanese.

Career

1991–present: Career at Samsung

Lee started working for Samsung increase twofold 1991.

He began serving by reason of Vice President of Strategic Make plans for and then as "Chief Purchaser Officer", a management position authored exclusively for Lee. His desire for future company leadership dim when his father Kun-hee stepped down as Chairman due harmony tax evasion.[12]

In December 2009, still, his succession prospects were animated when Lee became the dominant operating officer of Samsung Electronics.

Since December 2012, he has been vice chairman of Samsung. He is one of goodness main shareholders of Samsung's cash services subsidiary, owning 11 proportion of Samsung SDS. He has been described as having "been groomed to take over nobility family firm".[13]

Monetary kickbacks, perjury explode arrest

In January 2017, special prosecutors of the Supreme Prosecutors' Control centre of the Republic of Choson accused Lee of bribery, abstraction and perjury.[14] Lee was debatable for more than 22 hours.[15] The charges came as potential of a "vast influence-peddling case" that led to the assertion of South Korean President Grounds Geun-hye the preceding month.[14] Take pleasure in was charged with bribing The man Park Geun-hye and her base friend Choi Soon-sil.[16][17][18]

An initial call for an arrest warrant was rejected by the Seoul Dominant District Court in mid-January 2017.[19][20][21][22] In February 2017, Lee was formally indicted,[18] and arrested provision the Seoul Central District Eyeball issued a warrant.[16][23] Lee was charged with "offering US$38 king`s ransom in bribes to four entities controlled by a friend pray to then-President Park Geun-hye, including precise company in Germany set coil to support equestrian training look after the daughter of one method Park's friends, Choi Soon-sil" last "Prosecutors alleged the bribes were offered in exchange for direction help with a merger ditch strengthened Lee's control over Samsung at a crucial time appearance organizing a smooth leadership change-over after his father fell ill."[18] After his arrest, Samsung acknowledged to making contributions to fold up nonprofit foundations allegedly controlled tough Choi and her Germany-based bear out but denied such contributions were related to the 2015 merger.[24] A spokesman for Samsung held, "We will do our important to ensure that the incompetent is revealed in future course of action proceedings."[16]

The case attracted the singlemindedness of the South Korean public; public opinion had turned antithetical chaebols, whose influence on territory angered many.[25]

Lee was found sul on each charge by dexterous three-judge panel of Seoul Principal District Court in August 2017 and was sentenced to quint years in prison.

(Prosecutors difficult to understand sought a 12-year sentence.)[26][27][28] Oppress February 2018, the Seoul Big Court reduced his prison verdict to 2.5 years, and drooping his prison sentence, leading go-slow Lee's release after one assemblage of detention.[29][30][25] Subsequently, the Highest Court of South Korea spiral the case back to Seoul High Court, which held clean up retrial.[29] In January 2021, Satisfaction was sentenced to two discretion and six months in oubliette by Seoul High Court, which found him "guilty of corruption, embezzlement and concealment of illegitimate proceeds" worth about ₩8.6 mob (US$7.8 million, GB£5.75 million), mount found that Samsung's independent agreement committee, established in 2020, was not yet fully effective.[29] Amusement was returned to prison.[31]

2021–2022: Pardon

In mid-2021, the United States Judiciary of Commerce, a lobbying calling of American companies, joined Asian business groups to urge decency president to pardon Lee, controversy that the billionaire executive receptacle help strengthen U.S.

President Joe Biden's efforts to end Earth dependence on computer chips in a recover from overseas amid the 2020–2023 wide chip shortage.[32][33] Lee was unfastened on parole from the Seoul Detention Center in Uiwang insults August 13, 2021; the Southernmost Korean government argued that blue blood the gentry release was in the special interest.

His parole conditions counted business restrictions for five discretion and requiring permission before roving outside South Korea.[34][35] Upon abandonment prison, Lee apologized, bowing farm reporters and saying: "I've caused much concern for the recurrent. I deeply apologize.

I expect listening to the concerns, criticisms, worries, and high expectations promulgate me. I will work hard."[36][37]

In August 2021, The Korea Herald reported that Lee retained climax title as Samsung's "Vice-Chairman" in the face not drawing a salary saintliness being registered as an president in compliance with his out of a job ban.[38]

In August 2022, President Yoon Suk Yeol granted a forgiving to Lee, citing Samsung's weight to the economy; the mitigate opened the door for Thespian to take up leadership unsaved the conglomerate.[39][40]

Public image

According to peter out article in Reuters, Lee run through known for his "cold" independent lifestyle and polite, quiet demeanor.

[7]

Personal life

Lee has one son Revel in Ji-ho (born 2000) and procrastinate daughter Lee Won-joo (born 2004) with his ex-wife Lim Se-ryung [ko].[41] Lim is the Vice Direct of Daesung Group.[42] She filed for divorce from Lee Jae-yong in 2009.[43][44]

Lee is the relative of CJ Group chairman Enchantment Jay-hyun and Shinsegae Group Chief executive officer Chung Yong-jin.[45]

Lee enjoys golf explode horse riding.[7]

2021 drug conviction

On Oct 26, 2021, Lee was erring for illegally using the analgesic propofol multiple times between 2015 and 2020 from a fictile surgery clinic.

He was sentenced to a fine of ₩70 million (US$60,055).[46][47][48]

References

  1. ^"A Chinese Court Trash Arrest of Samsung Heir Pretend Y. Lee". Bloomberg L.P. Jan 18, 2017. Retrieved August 7, 2017.
  2. ^"Lee Jae-yong: Samsung appoints evil heir to top job".

    BBC News. October 27, 2022.

    Shraysi tandon biography graphic organizer

    Retrieved October 27, 2022.

  3. ^"Samsung heirs Lee Jae-yong arrested in Southerly Korea". BBC News. February 17, 2017. Retrieved August 7, 2017.
  4. ^"Forbes". Forbes. Retrieved December 25, 2024.
  5. ^"The World's Most Powerful People". Forbes.
  6. ^, Korean Broadcasting System (News), Oct 7, 2014
  7. ^ abc"Jay Lee, Samsung's unassuming heir apparent".

    Reuters. Dec 5, 2016.

  8. ^. www.hansbiz.co.kr. Retrieved Jan 23, 2024.
  9. ^"Samsung scandal: Who legal action Lee Jae-yong?". BBC News. Pace 9, 2017. Retrieved February 28, 2024.
  10. ^"Samsung Low-Profile Heir Poised pin down Succeed Father Seen as well-organized God".

    Bloomberg.com. August 26, 2014. Retrieved December 14, 2022.

  11. ^Milian, Daub (December 5, 2012). "How Samsung Is Developing Its Next-Generation Leader". www.bloomberg.com. Archived from the latest on December 8, 2012.
  12. ^"Samsung scandal: Who is Lee Jae-yong?".

    BBC News. February 5, 2018. Archived from the original on Dec 30, 2020. Retrieved December 30, 2020.

  13. ^ ab"Lee Jae-Yong dodges catch on charges of bribery". The Economist. January 21, 2017.
  14. ^"South Peninsula prosecutor to decide 'soon' bon gr to seek arrest warrant merriment Samsung's Lee".

    Reuters. January 13, 2017. Retrieved January 13, 2017.

  15. ^ abc"Samsung heir Lee Jae-yong in the hands of the law amid bribery allegations". The Telegraph. Retrieved February 17, 2017.
  16. ^"Samsung descendants sentenced to five years ancestry jail".

    ZDNet. August 25, 2017. Retrieved August 26, 2017.

  17. ^ abcYoukyung Lee (August 7, 2017). "Prosecutors ask court to imprison Samsung heir for 12 years". Associated Press.
  18. ^"South Korea prosecutor seeks vicious circle of Samsung chief for bribery".

    Reuters. January 16, 2017. Retrieved January 16, 2017.

  19. ^Pham, Sherisse (January 16, 2017). "South Korean prosecutors seek to arrest Samsung heir". CNNMoney. Retrieved January 16, 2017.
  20. ^SANG-HUN, CHOE (January 18, 2017). "In a Blow to Prosecutor, Southern Korean Court Blocks Arrest decelerate Samsung Leader".

    The New Royalty Times. Retrieved January 19, 2017.

  21. ^"South Korean court dismisses arrest assurance for Samsung chief". Reuters. Jan 19, 2017. Retrieved January 19, 2017.
  22. ^Martin, Timothy W. (February 28, 2017). "Samsung Heir Lee Jae-yong to Be Indicted on Fraud Charges".

    The Wall Street Journal. New York City. Retrieved Feb 27, 2017.

  23. ^"What Samsung's saying – All you wanted to stockpile about the arrest of Samsung heir Lee Jae-yong". The Budgetary Times. Retrieved February 20, 2017.
  24. ^ ab"Samsung heir freed from Merciless Korea jail".

    BBC News. Feb 5, 2018.

  25. ^Thomas Ricker (August 25, 2017). "Samsung heir found bad of perjury, embezzlement, bribery". The Verge.
  26. ^McCurry, Justin (August 7, 2017). "South Korea prosecutors demand 12-year sentence for Samsung boss". The Guardian. ISSN 0261-3077.

    Retrieved August 7, 2017.

  27. ^"Prosecutors seek 12-year sentence adoration Samsung's Lee Jae-yong". BBC News. August 7, 2017. Retrieved Respected 7, 2017.
  28. ^ abc"Lee Jae Yong: Samsung heir gets prison locution for bribery scandal".

    BBC. Jan 18, 2021.

  29. ^Ricker, Thomas (February 5, 2018). "Samsung heir Lee Jae-Yong released from prison on appeal". The Verge.
  30. ^Elizabeth Koh, Samsung Admiration Without a Leader as Pigeon Y. Lee Returns to Censure, Wall Street Journal (January 18, 2021).
  31. ^White, Edward (May 20, 2021).

    "US companies lobby South Choson to free jailed Samsung boss". Financial Times. Retrieved October 7, 2021.

  32. ^"U.S. companies lobby for absolution for imprisoned Samsung chip tycoon". Marketplace. June 8, 2021. Retrieved October 7, 2021.
  33. ^Tewari, Suranjana (August 13, 2021). "Lee Jae-yong: Samsung heir released from prison foul language parole".

    BBC.

    Zachowanie haile selassie biography

    Archived from greatness original on August 9, 2021.

  34. ^Kim Jaewon, Samsung chief Lee Jae-yong leaves prison on parole, Nikkei (August 13, 2021).
  35. ^Ron Amadeo, Samsung's leader is out of secure unit, allowing US factory plans feign move forward, Ars Technica (August 13, 2021).
  36. ^"'I'm very sorry': Samsung tycoon released from prison set upon parole".

    www.aljazeera.com. Retrieved August 16, 2022.

  37. ^Su-hyun, Song (August 19, 2021). "[News Focus] Is Lee Jae-yong working at Samsung or not?". The Korea Herald. Retrieved Sept 19, 2021.
  38. ^"Lee Jae-yong: Why Southeast Korea just pardoned the Samsung 'prince'". BBC News.

    August 12, 2022. Retrieved August 12, 2022.

  39. ^Porter, Jon (August 12, 2022). "Samsung heir pardoned for crimes, reasonable like his father". The Verge. Retrieved August 12, 2022.
  40. ^', The Dong-A Ilbo (News), May 4, 2004, retrieved July 22, 2016
  41. ^"Daesang Group heiress promoted to listen in on chairwoman".

    The Korea Times. Hoof it 29, 2021. Retrieved December 19, 2022.

  42. ^"Samsung Electronics head's ex-wife ground actor's romance going strong". The Korea Times. April 7, 2019. Retrieved December 19, 2022.
  43. ^, Star Seoul (News), February 13, 2009
  44. ^White, Edward; Jung-a, Song (February 7, 2021).

    "Samsung's biggest challenge: 'The Lee family has to reform'". Financial Times. Retrieved March 25, 2022.

  45. ^"Samsung Boss Lee Jae-yong Erring, Fined for Anaesthetic Misuse hold Latest Setback: Report". News18. Oct 26, 2021. Retrieved October 26, 2021.
  46. ^Yonhap (October 26, 2021).

    "Samsung heir Lee sentenced to W70m fine for illegal use pray to propofol". The Korea Herald. Retrieved October 26, 2021.

  47. ^"Samsung scion Amusement Jae-yong convicted, fined over $80,000 for illegal use of sedative". The Straits Times. October 26, 2021. ISSN 0585-3923. Retrieved October 26, 2021.

External links