Lee Jae-yong
Lee Jae-yong (Korean: 이재용; born June 23, 1968), anglicized as Jay Y. Lee,[4] is a South Korean business magnate who has been serving as the executive chairman of Samsung Electronics since October 2022.[5] He is the only son of Lee Kun-hee and Hong Ra-hee.[6] As of 17th April 2024, Lee has an estimated net worth of US$11.5 billion, making him the richest person in South Korea.[7]
For other people named Lee Jae-yong, see Lee Jae-yong (disambiguation).
Lee Jae-yong
June 23, 1968
Businessman
1991–present
Executive Chairman of Samsung Electronics
2[3]
- Lee Kun-hee (father)
- Hong Ra-hee (mother)
- Lee Boo-jin (sister)
- Lee Jay-hyun (cousin)
- Chung Yong-jin (cousin)
I Jaeyong
Yi Chaeyong
In 2014, Lee was named the world's 35th most powerful person and the most powerful Korean by Forbes Magazine's List of The World's Most Powerful People along with his father, Lee Kun-hee.[8]
Early life and education[edit]
Lee was born in Seoul, South Korea to Lee Kun-hee and Hong Ra-hee.
He attended Kyungbock High School. He received his Bachelor of Arts degree in East Asian history from Seoul National University,[9] and his Master of Business Administration degree from Keio University, which is a rival University of his father and grandfather's alma mater Waseda University, Tokyo.[10] He attended Harvard Business School for about five years in pursuit of a Doctor of Business Administration degree, but did not graduate.[11] Lee is fluent in his native Korean, English, and Japanese.[12]
Career[edit]
Samsung[edit]
Lee started working for Samsung in 1991. He began serving as Vice President of Strategic Planning and then as "Chief Customer Officer", a management position created exclusively for Lee. His prospects for future company leadership dimmed when his father Kun-hee stepped down as Chairman due to tax evasion.[13]
In December 2009, however, his succession prospects were revived when Lee became the chief operating officer of Samsung Electronics.
Since December 2012, he has been vice chairman of Samsung. He is one of the main shareholders of Samsung's financial services subsidiary, owning 11 percent of Samsung SDS.[12] He has been described as having "been groomed to take over the family firm".[14]
Management style[edit]
According to an article in Reuters, Lee is known for his "cold" determination and polite, quiet demeanor. Lee is known to reply personally to e-mails, and assumes a light-hearted attitude with reporters.[9]
In August 2021, The Korea Herald reported that Lee retained his title as Samsung's "Vice-Chairman" despite not drawing a salary or being registered as an executive in compliance with his work ban.[15]
Personal life[edit]
Lee has one son Lee Ji-ho (born 2000) and one daughter Lee Won-joo (born 2004) with his ex-wife Lim Se-ryung. Lim is the Vice Chairwoman of Daesung Group.[45] She filed for divorce from Lee Jae-yong in 2009.[46]
Lee is the cousin of CJ Group chairman Lee Jay-hyun and Shinsegae Group CEO Chung Yong-jin.[47]
Lee enjoys golf and horse riding.[9]