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Lee Jae-yong (Korean: 이재용; Hanja: 李在鎔; born 23 June 1968), known professionally in the West as Jay Y. Lee,[3] is a South Korean business magnate who has been serving as the executive chairman of Samsung Electronics since October 2022.[4] He is the only son of Lee Kun-hee and Hong Ra-hee.[5] As of September 2021, Lee has an estimated net worth of US$11 billion, making him the fourth-wealthiest person in South Korea.[6] In January 2021, Lee was sidelined from taking part in major Samsung business dealings after he resumed serving a prison sentence for his bribery and embezzlement convictions.[7] He was pardoned in August 2022, before reinstating his position at Samsung.[8] 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.[9] Early life and education Jae-yong 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,[10] and his Master of Business Administration degree from Keio University. He attended Harvard Business School for about five years in pursuit of a Doctor of Business Administration degree, but did not graduate.[11] He is the cousin of CJ Group chairman Lee Jay-hyun and Shinsegae Group CEO Chung Yong-jin.[12] Lee is fluent in his native Korean, English, and Japanese.[13] Personal life Lee has one son (born 2000) and one daughter (born 2004) with his ex-wife Lim Se-ryung. Lee Se-ryung is the Vice Chairwoman of Daesang group.[14] Lee Se-ryung filed for divorce from Lee Jae-yong in 2009.[15] Lee enjoys golf and horse riding.[10] Career at Samsung Jae-yong 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.[16] 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.[13] He has been described as having "been groomed to take over the family firm".[17] Criminal conviction and pardon In January 2017, special prosecutors of the South Korean prosecutor's office accused Lee of bribery, embezzlement and perjury.[18] Lee was questioned for more than 22 hours.[19] The charges came as part of a "vast influence-peddling case" that led to the impeachment of South Korean President Park Geun-hye the preceding month.[18] Lee was charged with bribing President Park Geun and her close friend Choi Soon-sil.[20][21][22] An initial request for an arrest warrant was rejected by the Seoul Central District Court in mid-January 2017.[23][24][25][26] In February 2017, Lee was formally indicted,[22] and arrested after the Seoul Central District Court issued a warrant.[20][27] Lee was charged with "offering $38 million in bribes to four entities controlled by a friend of then-President Park Geun-hye, including a company in Germany set up to support equestrian training for the daughter of one of Park’s friends, Choi Soon-sil" and "Prosecutors alleged the bribes were offered in exchange for government help with a merger that strengthened Lee’s control over Samsung at a crucial time for organizing a smooth leadership transition after his father fell ill."[22] After his arrest, Samsung admitted to making contributions to two nonprofit foundations allegedly controlled by Choi and her Germany-based firm but denied such contributions were related to the 2015 merger.[28] A spokesman for Samsung said, "We will do our best to ensure that the truth is revealed in future court proceedings."[20] The case attracted the attention of the South Korean public; public opinion had turned against chaebols, whose influence on society angered many.[29] Lee was found guilty on each charge by a three-judge panel of Seoul Central District Court in August 2017 and was sentenced to five years in prison. (Prosecutors has sought a 12-year sentence.)[30][31][32] In February 2018, the Seoul High Court reduced his prison sentence to 2.5 years, and suspended his prison sentence, leading to Lee's release after one year of detention.[33][34][29] Subsequently, the Supreme Court of South Korea sent the case back to Seoul High Court, which held a retrial.[33] In January 2021, Lee was sentenced to two years and six months in prison by Seoul High Court, which found him "guilty of bribery, embezzlement and concealment of criminal proceeds" worth about 8.6 billion Korean won (7.8 million U.S. dollars, £5.75 million British pounds), and found that Samsung's independent compliance committee, established in 2020, was not yet fully effective.[33] Lee was returned to prison.[35] In mid-2021, the United States Chamber of Commerce, a lobbying group of American companies, joined Korean business groups to urge the president to pardon Lee, arguing that the billionaire executive can help strengthen U.S. President Joe Biden's efforts to end American dependence on computer chips produced overseas amid the global chip shortage.[36][37] Lee was released on parole from the Seoul Detention Center in Uiwang on 13 August 2021; the South Korean government argued that the release was in the national interest. His parole conditions included business restrictions for five years and requiring permission before travelling outside South Korea.[38][39] Upon leaving prison, Lee apologized, bowing to reporters and saying: "I've caused much concern for the people. I deeply apologize. I am listening to the concerns, criticisms, worries, and high expectations for me. I will work hard."[40][41] In August 2022, President Yoon Suk-yeol granted a pardon to Lee, citing Samsung's importance to the economy; the pardon opened the door for Lee to take up leadership of the conglomerate.[8][42] 2021 drug conviction On 26 October 2021, Lee was convicted for illegally using the drug propofol multiple times between 2015 and 2020 from a plastic surgery clinic. He was sentenced to paying a fine of 70 million won (US$60,055).[43][44][45] Management style 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.[10] 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.[46] References "임세령 이재용 부부, 이혼소송 중…사실상 별거상태", Star Seoul (News), 13 February 2009 ’"둘째딸 낳은 삼성전자 이재용 상무 부인 임세령", The Dong-a Ilbo (News), 4 May 2004, retrieved 22 July 2016 "A Chinese Court Rejects Arrest of Samsung Heir Jay Y. Lee". Bloomberg L.P. 18 January 2017. Retrieved 7 August 2017. "Lee Jae-yong: Samsung appoints convicted heir to top job". BBC News. 27 October 2022. Retrieved 27 October 2022. "Samsung heir Lee Jae-yong arrested in South Korea". BBC News. 17 February 2017. Retrieved 7 August 2017. "#330 Jay Y. Lee". Forbes. Retrieved 26 June 2020. "Samsung heir Lee Jae-yong sentenced to 30 months in prison in bribery case". South China Morning Post. Reuters. 18 January 2021. Retrieved 31 January 2021. "Lee Jae-yong: Why South Korea just pardoned the Samsung 'prince'". BBC News. 12 August 2022. Retrieved 12 August 2022. "The World's Most Powerful People". Forbes. "Jay Lee, Samsung's unassuming heir apparent". Reuters. 5 December 2016. "Samsung Low-Profile Heir Poised to Succeed Father Seen as a God". Bloomberg.com. 26 August 2014. Retrieved 14 December 2022. White, Edward; Jung-a, Song (7 February 2021). "Samsung's biggest challenge: 'The Lee family has to reform'". Financial Times. Retrieved 25 March 2022. Kim, Miyoung. "All Eyes Are On Samsung's 'Crown Prince'". Business Insider. "Daesang Group heiress promoted to vice chairwoman". koreatimes. 29 March 2021. Retrieved 19 December 2022. "Samsung Electronics head's ex-wife and actor's romance going strong". koreatimes. 7 April 2019. Retrieved 19 December 2022. Milian, Mark (5 December 2012). "How Samsung Is Developing Its Next-Generation Leader". www.bloomberg.com. Archived from the original on 8 December 2012. "Samsung scandal: Who is Lee Jae-yong?". BBC News. 5 February 2018. Archived from the original on 30 December 2020. Retrieved 30 December 2020. "Lee Jae-Yong dodges arrest on charges of bribery". The Economist. 21 January 2017. "South Korea prosecutor to decide 'soon' whether to seek arrest warrant for Samsung's Lee". Reuters. 13 January 2017. Retrieved 13 January 2017. "Samsung heir Lee Jae-yong arrested amid bribery allegations". The Telegraph. Retrieved 17 February 2017. "Samsung heir sentenced to five years in jail". ZDNet. 25 August 2017. Retrieved 26 August 2017. Youkyung Lee (7 August 2017). "Prosecutors ask court to imprison Samsung heir for 12 years". Associated Press. "South Korea prosecutor seeks arrest of Samsung chief for bribery". Reuters. 16 January 2017. Retrieved 16 January 2017. Pham, Sherisse (16 January 2017). "South Korean prosecutors seek to arrest Samsung heir". CNNMoney. Retrieved 16 January 2017. SANG-HUN, CHOE (18 January 2017). "In a Blow to Prosecutor, South Korean Court Blocks Arrest of Samsung Leader". The New York Times. Retrieved 19 January 2017. "South Korean court dismisses arrest warrant for Samsung chief". Reuters. 19 January 2017. Retrieved 19 January 2017. Martin, Timothy W. (28 February 2017). "Samsung Heir Lee Jae-yong to Be Indicted on Bribery Charges". The Wall Street Journal. New York City. Retrieved 27 February 2017. "What Samsung's saying – All you wanted to know about the arrest of Samsung heir Lee Jae-yong". The Economic Times. Retrieved 20 February 2017. "Samsung heir freed from S Korea jail". BBC News. 5 February 2018. Thomas Ricker (25 August 2017). "Samsung heir found guilty of perjury, embezzlement, bribery". The Verge. McCurry, Justin (7 August 2017). "South Korea prosecutors demand 12-year sentence for Samsung boss". The Guardian. ISSN 0261-3077. Retrieved 7 August 2017. "Prosecutors seek 12-year sentence for Samsung's Lee Jae-yong". BBC News. 7 August 2017. Retrieved 7 August 2017. "Lee Jae Yong: Samsung heir gets prison term for bribery scandal". BBC. 18 January 2021. Ricker, Thomas (5 February 2018). "Samsung heir Lee Jae-Yong released from prison on appeal". The Verge. Elizabeth Koh, Samsung Is Without a Leader as Jay Y. Lee Returns to Prison, Wall Street Journal (January 18, 2021). White, Edward (20 May 2021). "US companies lobby South Korea to free jailed Samsung boss". Financial Times. Retrieved 7 October 2021. "U.S. companies lobby for pardon for imprisoned Samsung chip tycoon". Marketplace. 8 June 2021. Retrieved 7 October 2021. Tewari, Suranjana (13 August 2021). "Lee Jae-yong: Samsung heir released from prison on parole". BBC. Archived from the original on 13 August 2021. Kim Jaewon, Samsung chief Lee Jae-yong leaves prison on parole, Nikkei (August 13, 2021). Ron Amadeo, Samsung's leader is out of jail, allowing US factory plans to move forward, Ars Technica (August 13, 2021). "'I'm very sorry': Samsung tycoon released from prison on parole". www.aljazeera.com. Retrieved 16 August 2022. Porter, Jon (12 August 2022). "Samsung heir pardoned for crimes, just like his father". The Verge. Retrieved 12 August 2022. "Samsung Boss Lee Jae-yong Convicted, Fined for Anaesthetic Misuse in Latest Setback: Report". News18. 26 October 2021. Retrieved 26 October 2021. Yonhap (26 October 2021). "Samsung heir Lee sentenced to W70m fine for illegal use of propofol". The Korea Herald. Retrieved 26 October 2021. "Samsung scion Lee Jae-yong convicted, fined over $80,000 for illegal use of sedative". The Straits Times. 26 October 2021. ISSN 0585-3923. Retrieved 26 October 2021. Su-hyun, Song (19 August 2021). "[News Focus] Is Lee Jae-yong working at Samsung or not?". The Korea Herald. Retrieved 19 September 2021. External links Forbes profile BusinessWeek profile

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 Lee Jae-yong (Korean: 이재용; Hanja: 李在鎔; born 23 June 1968), known professionally in the West as Jay Y. Lee,[3] is a South Korean business magnate who has been serving as the executive chairman of Samsung Electronics since October 2022.[4] He is the only son of Lee Kun-hee and Hong Ra-hee.[5] As of September 2021, Lee has an estimated net worth of US$11 billion, making him the fourth-wealthiest person in South Korea.[6] In January 2021, Lee was sidelined from taking part in major Samsung business dealings after he resumed serving a prison sentence for his bribery and embezzlement convictions.[7] He was pardoned in August 2022, before reinstating his position at Samsung.[8] 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.[9] Early life and education Jae-yong was born in Seoul, South Korea to Lee Kun-hee and Hong Ra-hee. He attended Kyungbo

Lee Jae-yong (Korean: 이재용; Hanja: 李在鎔; born 23 June 1968), known professionally in the West as Jay Y. Lee,[3] is a South Korean business magnate who has been serving as the executive chairman of Samsung Electronics since October 2022.[4] He is the only son of Lee Kun-hee and Hong Ra-hee.[5] As of September 2021, Lee has an estimated net worth of US$11 billion, making him the fourth-wealthiest person in South Korea.[6] In January 2021, Lee was sidelined from taking part in major Samsung business dealings after he resumed serving a prison sentence for his bribery and embezzlement convictions.[7] He was pardoned in August 2022, before reinstating his position at Samsung.[8] 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.[9] Early life and education Jae-yong 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,[10] and his Master of Business Administration degree from Keio University. He attended Harvard Business School for about five years in pursuit of a Doctor of Business Administration degree, but did not graduate.[11] He is the cousin of CJ Group chairman Lee Jay-hyun and Shinsegae Group CEO Chung Yong-jin.[12] Lee is fluent in his native Korean, English, and Japanese.[13] Personal life Lee has one son (born 2000) and one daughter (born 2004) with his ex-wife Lim Se-ryung. Lee Se-ryung is the Vice Chairwoman of Daesang group.[14] Lee Se-ryung filed for divorce from Lee Jae-yong in 2009.[15] Lee enjoys golf and horse riding.[10] Career at Samsung Jae-yong 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.[16] 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.[13] He has been described as having "been groomed to take over the family firm".[17] Criminal conviction and pardon In January 2017, special prosecutors of the South Korean prosecutor's office accused Lee of bribery, embezzlement and perjury.[18] Lee was questioned for more than 22 hours.[19] The charges came as part of a "vast influence-peddling case" that led to the impeachment of South Korean President Park Geun-hye the preceding month.[18] Lee was charged with bribing President Park Geun and her close friend Choi Soon-sil.[20][21][22] An initial request for an arrest warrant was rejected by the Seoul Central District Court in mid-January 2017.[23][24][25][26] In February 2017, Lee was formally indicted,[22] and arrested after the Seoul Central District Court issued a warrant.[20][27] Lee was charged with "offering $38 million in bribes to four entities controlled by a friend of then-President Park Geun-hye, including a company in Germany set up to support equestrian training for the daughter of one of Park’s friends, Choi Soon-sil" and "Prosecutors alleged the bribes were offered in exchange for government help with a merger that strengthened Lee’s control over Samsung at a crucial time for organizing a smooth leadership transition after his father fell ill."[22] After his arrest, Samsung admitted to making contributions to two nonprofit foundations allegedly controlled by Choi and her Germany-based firm but denied such contributions were related to the 2015 merger.[28] A spokesman for Samsung said, "We will do our best to ensure that the truth is revealed in future court proceedings."[20] The case attracted the attention of the South Korean public; public opinion had turned against chaebols, whose influence on society angered many.[29] Lee was found guilty on each charge by a three-judge panel of Seoul Central District Court in August 2017 and was sentenced to five years in prison. (Prosecutors has sought a 12-year sentence.)[30][31][32] In February 2018, the Seoul High Court reduced his prison sentence to 2.5 years, and suspended his prison sentence, leading to Lee's release after one year of detention.[33][34][29] Subsequently, the Supreme Court of South Korea sent the case back to Seoul High Court, which held a retrial.[33] In January 2021, Lee was sentenced to two years and six months in prison by Seoul High Court, which found him "guilty of bribery, embezzlement and concealment of criminal proceeds" worth about 8.6 billion Korean won (7.8 million U.S. dollars, £5.75 million British pounds), and found that Samsung's independent compliance committee, established in 2020, was not yet fully effective.[33] Lee was returned to prison.[35] In mid-2021, the United States Chamber of Commerce, a lobbying group of American companies, joined Korean business groups to urge the president to pardon Lee, arguing that the billionaire executive can help strengthen U.S. President Joe Biden's efforts to end American dependence on computer chips produced overseas amid the global chip shortage.[36][37] Lee was released on parole from the Seoul Detention Center in Uiwang on 13 August 2021; the South Korean government argued that the release was in the national interest. His parole conditions included business restrictions for five years and requiring permission before travelling outside South Korea.[38][39] Upon leaving prison, Lee apologized, bowing to reporters and saying: "I've caused much concern for the people. I deeply apologize. I am listening to the concerns, criticisms, worries, and high expectations for me. I will work hard."[40][41] In August 2022, President Yoon Suk-yeol granted a pardon to Lee, citing Samsung's importance to the economy; the pardon opened the door for Lee to take up leadership of the conglomerate.[8][42] 2021 drug conviction On 26 October 2021, Lee was convicted for illegally using the drug propofol multiple times between 2015 and 2020 from a plastic surgery clinic. He was sentenced to paying a fine of 70 million won (US$60,055).[43][44][45] Management style 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.[10] 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.[46] References "임세령 이재용 부부, 이혼소송 중…사실상 별거상태", Star Seoul (News), 13 February 2009 ’"둘째딸 낳은 삼성전자 이재용 상무 부인 임세령", The Dong-a Ilbo (News), 4 May 2004, retrieved 22 July 2016 "A Chinese Court Rejects Arrest of Samsung Heir Jay Y. Lee". Bloomberg L.P. 18 January 2017. Retrieved 7 August 2017. "Lee Jae-yong: Samsung appoints convicted heir to top job". BBC News. 27 October 2022. Retrieved 27 October 2022. "Samsung heir Lee Jae-yong arrested in South Korea". BBC News. 17 February 2017. Retrieved 7 August 2017. "#330 Jay Y. Lee". Forbes. Retrieved 26 June 2020. "Samsung heir Lee Jae-yong sentenced to 30 months in prison in bribery case". South China Morning Post. Reuters. 18 January 2021. Retrieved 31 January 2021. "Lee Jae-yong: Why South Korea just pardoned the Samsung 'prince'". BBC News. 12 August 2022. Retrieved 12 August 2022. "The World's Most Powerful People". Forbes. "Jay Lee, Samsung's unassuming heir apparent". Reuters. 5 December 2016. "Samsung Low-Profile Heir Poised to Succeed Father Seen as a God". Bloomberg.com. 26 August 2014. Retrieved 14 December 2022. White, Edward; Jung-a, Song (7 February 2021). "Samsung's biggest challenge: 'The Lee family has to reform'". Financial Times. Retrieved 25 March 2022. Kim, Miyoung. "All Eyes Are On Samsung's 'Crown Prince'". Business Insider. "Daesang Group heiress promoted to vice chairwoman". koreatimes. 29 March 2021. Retrieved 19 December 2022. "Samsung Electronics head's ex-wife and actor's romance going strong". koreatimes. 7 April 2019. Retrieved 19 December 2022. Milian, Mark (5 December 2012). "How Samsung Is Developing Its Next-Generation Leader". www.bloomberg.com. Archived from the original on 8 December 2012. "Samsung scandal: Who is Lee Jae-yong?". BBC News. 5 February 2018. Archived from the original on 30 December 2020. Retrieved 30 December 2020. "Lee Jae-Yong dodges arrest on charges of bribery". The Economist. 21 January 2017. "South Korea prosecutor to decide 'soon' whether to seek arrest warrant for Samsung's Lee". Reuters. 13 January 2017. Retrieved 13 January 2017. "Samsung heir Lee Jae-yong arrested amid bribery allegations". The Telegraph. Retrieved 17 February 2017. "Samsung heir sentenced to five years in jail". ZDNet. 25 August 2017. Retrieved 26 August 2017. Youkyung Lee (7 August 2017). "Prosecutors ask court to imprison Samsung heir for 12 years". Associated Press. "South Korea prosecutor seeks arrest of Samsung chief for bribery". Reuters. 16 January 2017. Retrieved 16 January 2017. Pham, Sherisse (16 January 2017). "South Korean prosecutors seek to arrest Samsung heir". CNNMoney. Retrieved 16 January 2017. SANG-HUN, CHOE (18 January 2017). "In a Blow to Prosecutor, South Korean Court Blocks Arrest of Samsung Leader". The New York Times. Retrieved 19 January 2017. "South Korean court dismisses arrest warrant for Samsung chief". Reuters. 19 January 2017. Retrieved 19 January 2017. Martin, Timothy W. (28 February 2017). "Samsung Heir Lee Jae-yong to Be Indicted on Bribery Charges". The Wall Street Journal. New York City. Retrieved 27 February 2017. "What Samsung's saying – All you wanted to know about the arrest of Samsung heir Lee Jae-yong". The Economic Times. Retrieved 20 February 2017. "Samsung heir freed from S Korea jail". BBC News. 5 February 2018. Thomas Ricker (25 August 2017). "Samsung heir found guilty of perjury, embezzlement, bribery". The Verge. McCurry, Justin (7 August 2017). "South Korea prosecutors demand 12-year sentence for Samsung boss". The Guardian. ISSN 0261-3077. Retrieved 7 August 2017. "Prosecutors seek 12-year sentence for Samsung's Lee Jae-yong". BBC News. 7 August 2017. Retrieved 7 August 2017. "Lee Jae Yong: Samsung heir gets prison term for bribery scandal". BBC. 18 January 2021. Ricker, Thomas (5 February 2018). "Samsung heir Lee Jae-Yong released from prison on appeal". The Verge. Elizabeth Koh, Samsung Is Without a Leader as Jay Y. Lee Returns to Prison, Wall Street Journal (January 18, 2021). White, Edward (20 May 2021). "US companies lobby South Korea to free jailed Samsung boss". Financial Times. Retrieved 7 October 2021. "U.S. companies lobby for pardon for imprisoned Samsung chip tycoon". Marketplace. 8 June 2021. Retrieved 7 October 2021. Tewari, Suranjana (13 August 2021). "Lee Jae-yong: Samsung heir released from prison on parole". BBC. Archived from the original on 13 August 2021. Kim Jaewon, Samsung chief Lee Jae-yong leaves prison on parole, Nikkei (August 13, 2021). Ron Amadeo, Samsung's leader is out of jail, allowing US factory plans to move forward, Ars Technica (August 13, 2021). "'I'm very sorry': Samsung tycoon released from prison on parole". www.aljazeera.com. Retrieved 16 August 2022. Porter, Jon (12 August 2022). "Samsung heir pardoned for crimes, just like his father". The Verge. Retrieved 12 August 2022. "Samsung Boss Lee Jae-yong Convicted, Fined for Anaesthetic Misuse in Latest Setback: Report". News18. 26 October 2021. Retrieved 26 October 2021. Yonhap (26 October 2021). "Samsung heir Lee sentenced to W70m fine for illegal use of propofol". The Korea Herald. Retrieved 26 October 2021. "Samsung scion Lee Jae-yong convicted, fined over $80,000 for illegal use of sedative". The Straits Times. 26 October 2021. ISSN 0585-3923. Retrieved 26 October 2021. Su-hyun, Song (19 August 2021). "[News Focus] Is Lee Jae-yong working at Samsung or not?". The Korea Herald. Retrieved 19 September 2021. External links Forbes profile BusinessWeek profile

 Lee Jae-yong (Korean: 이재용; Hanja: 李在鎔; born 23 June 1968), known professionally in the West as Jay Y. Lee,[3] is a South Korean business magnate who has been serving as the executive chairman of Samsung Electronics since October 2022.[4] He is the only son of Lee Kun-hee and Hong Ra-hee.[5] As of September 2021, Lee has an estimated net worth of US$11 billion, making him the fourth-wealthiest person in South Korea.[6] In January 2021, Lee was sidelined from taking part in major Samsung business dealings after he resumed serving a prison sentence for his bribery and embezzlement convictions.[7] He was pardoned in August 2022, before reinstating his position at Samsung.[8] 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.[9] Early life and education Jae-yong was born in Seoul, South Korea to Lee Kun-hee and Hong Ra-hee. He attended Kyungbo

Lee Kun-hee (Korean: 이건희; Hanja: 李健熙, Korean: [iːɡʌnɣi]; 9 January 1942 – 25 October 2020) was a South Korean business magnate who served as the chairman of Samsung Group from 1987 to 2008, and again from 2010 until his death in 2020. He is also credited with the transformation of Samsung to one of the world's largest business entities that engages in semiconductors, smartphones, electronics, shipbuilding, construction, and other businesses. Since Lee Kun-hee became the chairman of Samsung, the company became the world's largest manufacturer of smartphones, memory chips, and appliances. He was the third son of Samsung founder Lee Byung-chul. With an estimated net worth of US$21 billion at the time of his death,[1] he was the richest person in South Korea, a position that he had held since 2007. He was convicted twice, once in 1996 and subsequently in 2008, for corruption and tax evasion charges, but was pardoned on both instances. In 2014, Lee was named the world's 35th most powerful person and the most powerful Korean by Forbes's list of the world's most powerful people along with his son, Lee Jae-yong.[2] Early life Young Lee Kun-hee with his father Lee Byung-chul. Lee Kun-hee was born on 9 January 1942 in Daegu, during the Japanese occupation of Korea.[3] He was the third son of Lee Byung-chul, the founder of the Samsung group, which was set up as an exporter of fruit and dried fish.[4] He went on to get a degree in economics from Waseda University, a private university in Japan.[5] He studied for a masters program in business from the George Washington University in Washington, D.C., but did not get a degree.[5][6] Career First period at Samsung Lee joined the Samsung Group in 1966 with the Tongyang Broadcasting Company, and later went on to work for Samsung's construction and trading company.[6] He took over the chairmanship of the conglomerate on 24 December 1987, two weeks after the death of his father, Lee Byung-chul.[7] In 1993, believing that Samsung Group was overly focused on producing large quantities of low-quality goods and was not prepared to compete in quality, Lee famously said, "Change everything except your wife and kids".[8] This call was an attempt to drive innovation at the company and to face up to the competition at that time from rivals like Sony Corporation.[5] In a declaration now known as the 'Frankfurt Declaration', he had his executives gather in the German city in 1993 and called for a change in the company's approach to quality, even if it meant lower sales. The company went on to become the largest manufacturer of televisions, outpacing Sony corporation in 2006.[5] Scandals and controversies Lee was convicted for having paid bribes to president Roh Tae-woo in 1996. He was subsequently pardoned by president Kim Young-sam.[5] On 14 January 2008, Korean police raided Lee's home and office in an ongoing probe into accusations that Samsung was responsible for a slush fund used to bribe influential prosecutors, judges, and political figures in South Korea.[9] On 4 April 2008, Lee denied allegations against him in the scandal.[10] After a second round of questioning by the South Korean prosecutors, on 11 April 2008, Lee was quoted by reporters as saying, "I am responsible for everything. I will assume full moral and legal responsibility.”[11] On 21 April 2008, he resigned and stated: "We, including myself, have caused troubles to the nation with the special probe; I deeply apologize for that, and I'll take full responsibility for everything, both legally and morally."[12] On 16 July 2008, The New York Times reported the Seoul Central District Court had found Lee guilty on charges of financial wrongdoing and tax evasion. Prosecutors requested that Lee be sentenced to seven years in prison and fined 350 billion won (approximately US$312 million). The court fined him 110 billion won (approximately US$98 million) and gave him a three-years suspended sentence. However, on 29 December 2009, South Korean president Lee Myung-bak pardoned Lee, stating that the intent of the pardon was to allow Lee to remain on the International Olympic Committee.[11] In Lee Myung-bak's corruption trial, this pardon was revealed to have been in exchange for bribes; further bribery and other political corruption between former President Lee and Lee Kun-hee was also exposed.[13] Think Samsung, a 2010 book by Kim Yong-chul, former Samsung legal counsel, alleged that Lee was guilty of corruption. In particular, it claimed that he stole up to 10 trillion won (approximately US$8.9 billion) from Samsung subsidiaries, tampered with evidence, and bribed government officials to guarantee his son would succeed him.[11] Return to Samsung On 24 March 2010, Lee announced his return to Samsung Electronics as its chairman.[14] He continued in this position until 2014, when he suffered an incapacitating heart attack and his son, Lee Jae-yong, became the Samsung group's de facto leader.[15] He is credited with having transformed Samsung into the world's largest manufacturer of smartphones, televisions, and memory chips.[5] At the time of his death, the company was worth US$300 billion, and with an estimated net worth US$20.7 billion per Bloomberg's billionaire index, he was the richest person in South Korea; a position that he had held since 2007.[5][16] Following his death, Lee's heirs are expected to face an estate tax of around US$10 billion, which might potentially result in dilution of the family's stake in the conglomerate. This stems from South Korea's high estate tax of 50% for estates larger than US$3 billion, which is second only to Japan, amongst the OECD countries.[5] Personal life Lee Kun-hee was married to Hong Ra-hee until his death.[17] Hong is the daughter of Hong Jin-ki, the former chairman of the JoongAng Ilbo and Tongyang Broadcasting Company.[18][19] His siblings and some of their children are also executives of major Korean business groups.[20] Lee Boo-jin, his eldest daughter, is president and CEO of Hotel Shilla, a luxury hotel chain, as well as president of Everland Resort, a theme park and resort operator that is "widely seen as the de facto holding company for the conglomerate" according to the Associated Press.[20] Lee had four children: the eldest child and the only son, Lee Jae-yong (born 1968), and three daughters, Lee Boo-jin (born 1970), Lee Seo-hyun (born 1973), and Lee Yoon-hyung (1979–2005) who died by suicide.[21] Lee's older brother Lee Maeng-hee and older sister Lee Sook-hee initiated legal action against him in February 2012, asking a South Korean court to award them shares of Samsung companies totaling US$850 million (913.563 billion won), which they claim their father willed to them.[22] Court hearings began in May 2012. On 6 February 2014, courts in South Korea dismissed the case.[23] Illness and death Lee was treated for lung cancer in the late 1990s and was tested again for cancer in 2005, at the MD Anderson Medical Center in Houston, Texas, with no subsequent concerns being announced.[24][25] He was hospitalized in Seoul in May 2014 after suffering a heart attack, and lapsed into a coma, which he remained in until his death on 25 October 2020, at the age of 78.[6][26][16] Posthumous The heirs to the late Lee announced in the Spring of 2021 that the businessman’s multibillion-dollar collection of more than 23,000 works of art would be dispersed throughout public institutions in South Korea. Contrary to this announcement, the country’s minister of culture, sports, and tourism, Hwang Hee, announced plans to build a new museum dedicated to the Lee collection.[27] References "Lee Kun-Hee", Forbes (profile), archived from the original on 29 July 2017, retrieved 13 February 2020 "The World's Most Powerful People". Forbes. Archived from the original on 25 December 2018. Retrieved 2 September 2017. Louis Kraar (12 April 2010). "Lee Kun-Hee South Korean businessman". Britannica. Archived from the original on 18 September 2015. Retrieved 18 February 2017. Zhong, Raymond (24 October 2020). "Lee Kun-hee of Samsung Dies at 78; Built an Electronics Titan". The New York Times. ISSN 0362-4331. Archived from the original on 25 October 2020. Retrieved 25 October 2020. "Lee Kun-hee, Korean Icon Who Transformed Samsung, Dies at 78". Bloomberg.com. 25 October 2020. Retrieved 25 October 2020. Zhong, Raymond (24 October 2020). "Lee Kun-hee of Samsung Dies at 78; Built an Electronics Titan". The New York Times. ISSN 0362-4331. Archived from the original on 25 October 2020. Retrieved 25 October 2020. Byford, Sam (30 November 2012). "King of Samsung: a chairman's reign of cunning and corruption". Archived from the original on 2 December 2012. Retrieved 27 September 2018. Moore, James (8 October 2011). "The business on...Lee Kun-hee, Chairman, Samsung". The Independent. Archived from the original on 25 February 2018. Retrieved 25 October 2020. [1] Archived 17 January 2008 at the Wayback Machine "Samsung chairman hints at possible resignation : National : Home" (in Korean). English.hani.co.kr. Archived from the original on 6 March 2009. Retrieved 28 December 2010. Byford, Sam (30 November 2012). "King of Samsung: a chairman's reign of cunning and corruption". The Verge. Archived from the original on 2 December 2012. Retrieved 9 July 2017. "BBC News – Asia-Pacific – Samsung chief resigns from post". news.bbc.co.uk. 22 April 2008. Archived from the original on 26 April 2008. Retrieved 22 April 2008. Sang-Hun, Choe (5 October 2018). "Former South Korean President Gets 15 Years in Prison for Corruption". The New York Times. Archived from the original on 3 November 2019. Retrieved 31 October 2019. "Lee Kun-hee Returns to Samsung Helm". koreatimes. 24 March 2010. Archived from the original on 13 May 2019. Retrieved 13 May 2019. "Lee Kun-hee Archived 18 September 2015 at the Wayback Machine". Encyclopedia Britannica. Retrieved 5 April 2020. Chung, Grace. "Lee Kun-Hee, Legendary Head Of Samsung And Korea's Richest Man, Dies At 78". Forbes. Retrieved 25 October 2020. Herald, The Korea (29 March 2011). "Hong Ra-hee makes comeback as Leeum's director". Archived from the original on 24 April 2016. Retrieved 9 March 2016. Herald, The Korea (29 March 2011). "Hong Ra-hee makes comeback as Leeum's director". www.koreaherald.com. Retrieved 25 October 2020. "JoongAng's late chairman's wife dies". koreajoongangdaily.joins.com. 5 June 2013. Retrieved 25 October 2020. Samsung promotes chairman's son to president Archived 5 December 2010 at the Wayback Machine, Kelly olsen, AP, 3 December 2010 "The descendants of the Samsung family lived uncomfortably and their suicides were killed (2)". 24 August 2010. Archived from the original on 24 February 2017. Retrieved 27 September 2018. "Samsung Feud: The Court Case Begins". The Wall Street Journal. 30 May 2012. Archived from the original on 14 November 2016. Retrieved 30 May 2012. "Samsung boss Lee Kun-hee wins inheritance case appeal". BBC News. 6 February 2014. Archived from the original on 8 February 2014. Retrieved 21 July 2018. "Finding a Cure for Cancer – News – SNU Media – News & Forum – SNU". www.useoul.edu. Archived from the original on 13 May 2014. Retrieved 13 May 2019. "No Apparent Health Problems for Samsung Chief". world.kbs.co.kr. Retrieved 25 October 2020. 이건희 삼성 회장 별세...향년 78세 Dafoe, Taylor (7 July 2021). "The Late Samsung Chairman's Multibillion-Dollar Art Collection Is Getting Its Own Dedicated Museum in Seoul". Artnet. Retrieved 7 July 2021. Business positions Preceded by Lee Byung-chul Chairman of Samsung Group December 1987 – April 2008 Succeeded by Lee Soo-bin Preceded by Lee Soo-bin Chairman of Samsung Group March 2010 – October 2020 Succeeded by Lee Jae-yong

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 Lee Kun-hee (Korean: 이건희; Hanja: 李健熙, Korean: [iːɡʌnɣi]; 9 January 1942 – 25 October 2020) was a South Korean business magnate who served as the chairman of Samsung Group from 1987 to 2008, and again from 2010 until his death in 2020. He is also credited with the transformation of Samsung to one of the world's largest business entities that engages in semiconductors, smartphones, electronics, shipbuilding, construction, and other businesses. Since Lee Kun-hee became the chairman of Samsung, the company became the world's largest manufacturer of smartphones, memory chips, and appliances. He was the third son of Samsung founder Lee Byung-chul. With an estimated net worth of US$21 billion at the time of his death,[1] he was the richest person in South Korea, a position that he had held since 2007. He was convicted twice, once in 1996 and subsequently in 2008, for corruption and tax evasion charges, but was pardoned on both instances. In 2014, Lee was named the world's 35th mo

Lee Kun-hee (Korean: 이건희; Hanja: 李健熙, Korean: [iːɡʌnɣi]; 9 January 1942 – 25 October 2020) was a South Korean business magnate who served as the chairman of Samsung Group from 1987 to 2008, and again from 2010 until his death in 2020. He is also credited with the transformation of Samsung to one of the world's largest business entities that engages in semiconductors, smartphones, electronics, shipbuilding, construction, and other businesses. Since Lee Kun-hee became the chairman of Samsung, the company became the world's largest manufacturer of smartphones, memory chips, and appliances. He was the third son of Samsung founder Lee Byung-chul. With an estimated net worth of US$21 billion at the time of his death,[1] he was the richest person in South Korea, a position that he had held since 2007. He was convicted twice, once in 1996 and subsequently in 2008, for corruption and tax evasion charges, but was pardoned on both instances. In 2014, Lee was named the world's 35th most powerful person and the most powerful Korean by Forbes's list of the world's most powerful people along with his son, Lee Jae-yong.[2] Early life Young Lee Kun-hee with his father Lee Byung-chul. Lee Kun-hee was born on 9 January 1942 in Daegu, during the Japanese occupation of Korea.[3] He was the third son of Lee Byung-chul, the founder of the Samsung group, which was set up as an exporter of fruit and dried fish.[4] He went on to get a degree in economics from Waseda University, a private university in Japan.[5] He studied for a masters program in business from the George Washington University in Washington, D.C., but did not get a degree.[5][6] Career First period at Samsung Lee joined the Samsung Group in 1966 with the Tongyang Broadcasting Company, and later went on to work for Samsung's construction and trading company.[6] He took over the chairmanship of the conglomerate on 24 December 1987, two weeks after the death of his father, Lee Byung-chul.[7] In 1993, believing that Samsung Group was overly focused on producing large quantities of low-quality goods and was not prepared to compete in quality, Lee famously said, "Change everything except your wife and kids".[8] This call was an attempt to drive innovation at the company and to face up to the competition at that time from rivals like Sony Corporation.[5] In a declaration now known as the 'Frankfurt Declaration', he had his executives gather in the German city in 1993 and called for a change in the company's approach to quality, even if it meant lower sales. The company went on to become the largest manufacturer of televisions, outpacing Sony corporation in 2006.[5] Scandals and controversies Lee was convicted for having paid bribes to president Roh Tae-woo in 1996. He was subsequently pardoned by president Kim Young-sam.[5] On 14 January 2008, Korean police raided Lee's home and office in an ongoing probe into accusations that Samsung was responsible for a slush fund used to bribe influential prosecutors, judges, and political figures in South Korea.[9] On 4 April 2008, Lee denied allegations against him in the scandal.[10] After a second round of questioning by the South Korean prosecutors, on 11 April 2008, Lee was quoted by reporters as saying, "I am responsible for everything. I will assume full moral and legal responsibility.”[11] On 21 April 2008, he resigned and stated: "We, including myself, have caused troubles to the nation with the special probe; I deeply apologize for that, and I'll take full responsibility for everything, both legally and morally."[12] On 16 July 2008, The New York Times reported the Seoul Central District Court had found Lee guilty on charges of financial wrongdoing and tax evasion. Prosecutors requested that Lee be sentenced to seven years in prison and fined 350 billion won (approximately US$312 million). The court fined him 110 billion won (approximately US$98 million) and gave him a three-years suspended sentence. However, on 29 December 2009, South Korean president Lee Myung-bak pardoned Lee, stating that the intent of the pardon was to allow Lee to remain on the International Olympic Committee.[11] In Lee Myung-bak's corruption trial, this pardon was revealed to have been in exchange for bribes; further bribery and other political corruption between former President Lee and Lee Kun-hee was also exposed.[13] Think Samsung, a 2010 book by Kim Yong-chul, former Samsung legal counsel, alleged that Lee was guilty of corruption. In particular, it claimed that he stole up to 10 trillion won (approximately US$8.9 billion) from Samsung subsidiaries, tampered with evidence, and bribed government officials to guarantee his son would succeed him.[11] Return to Samsung On 24 March 2010, Lee announced his return to Samsung Electronics as its chairman.[14] He continued in this position until 2014, when he suffered an incapacitating heart attack and his son, Lee Jae-yong, became the Samsung group's de facto leader.[15] He is credited with having transformed Samsung into the world's largest manufacturer of smartphones, televisions, and memory chips.[5] At the time of his death, the company was worth US$300 billion, and with an estimated net worth US$20.7 billion per Bloomberg's billionaire index, he was the richest person in South Korea; a position that he had held since 2007.[5][16] Following his death, Lee's heirs are expected to face an estate tax of around US$10 billion, which might potentially result in dilution of the family's stake in the conglomerate. This stems from South Korea's high estate tax of 50% for estates larger than US$3 billion, which is second only to Japan, amongst the OECD countries.[5] Personal life Lee Kun-hee was married to Hong Ra-hee until his death.[17] Hong is the daughter of Hong Jin-ki, the former chairman of the JoongAng Ilbo and Tongyang Broadcasting Company.[18][19] His siblings and some of their children are also executives of major Korean business groups.[20] Lee Boo-jin, his eldest daughter, is president and CEO of Hotel Shilla, a luxury hotel chain, as well as president of Everland Resort, a theme park and resort operator that is "widely seen as the de facto holding company for the conglomerate" according to the Associated Press.[20] Lee had four children: the eldest child and the only son, Lee Jae-yong (born 1968), and three daughters, Lee Boo-jin (born 1970), Lee Seo-hyun (born 1973), and Lee Yoon-hyung (1979–2005) who died by suicide.[21] Lee's older brother Lee Maeng-hee and older sister Lee Sook-hee initiated legal action against him in February 2012, asking a South Korean court to award them shares of Samsung companies totaling US$850 million (913.563 billion won), which they claim their father willed to them.[22] Court hearings began in May 2012. On 6 February 2014, courts in South Korea dismissed the case.[23] Illness and death Lee was treated for lung cancer in the late 1990s and was tested again for cancer in 2005, at the MD Anderson Medical Center in Houston, Texas, with no subsequent concerns being announced.[24][25] He was hospitalized in Seoul in May 2014 after suffering a heart attack, and lapsed into a coma, which he remained in until his death on 25 October 2020, at the age of 78.[6][26][16] Posthumous The heirs to the late Lee announced in the Spring of 2021 that the businessman’s multibillion-dollar collection of more than 23,000 works of art would be dispersed throughout public institutions in South Korea. Contrary to this announcement, the country’s minister of culture, sports, and tourism, Hwang Hee, announced plans to build a new museum dedicated to the Lee collection.[27] References "Lee Kun-Hee", Forbes (profile), archived from the original on 29 July 2017, retrieved 13 February 2020 "The World's Most Powerful People". Forbes. Archived from the original on 25 December 2018. Retrieved 2 September 2017. Louis Kraar (12 April 2010). "Lee Kun-Hee South Korean businessman". Britannica. Archived from the original on 18 September 2015. Retrieved 18 February 2017. Zhong, Raymond (24 October 2020). "Lee Kun-hee of Samsung Dies at 78; Built an Electronics Titan". The New York Times. ISSN 0362-4331. Archived from the original on 25 October 2020. Retrieved 25 October 2020. "Lee Kun-hee, Korean Icon Who Transformed Samsung, Dies at 78". Bloomberg.com. 25 October 2020. Retrieved 25 October 2020. Zhong, Raymond (24 October 2020). "Lee Kun-hee of Samsung Dies at 78; Built an Electronics Titan". The New York Times. ISSN 0362-4331. Archived from the original on 25 October 2020. Retrieved 25 October 2020. Byford, Sam (30 November 2012). "King of Samsung: a chairman's reign of cunning and corruption". Archived from the original on 2 December 2012. Retrieved 27 September 2018. Moore, James (8 October 2011). "The business on...Lee Kun-hee, Chairman, Samsung". The Independent. Archived from the original on 25 February 2018. Retrieved 25 October 2020. [1] Archived 17 January 2008 at the Wayback Machine "Samsung chairman hints at possible resignation : National : Home" (in Korean). English.hani.co.kr. Archived from the original on 6 March 2009. Retrieved 28 December 2010. Byford, Sam (30 November 2012). "King of Samsung: a chairman's reign of cunning and corruption". The Verge. Archived from the original on 2 December 2012. Retrieved 9 July 2017. "BBC News – Asia-Pacific – Samsung chief resigns from post". news.bbc.co.uk. 22 April 2008. Archived from the original on 26 April 2008. Retrieved 22 April 2008. Sang-Hun, Choe (5 October 2018). "Former South Korean President Gets 15 Years in Prison for Corruption". The New York Times. Archived from the original on 3 November 2019. Retrieved 31 October 2019. "Lee Kun-hee Returns to Samsung Helm". koreatimes. 24 March 2010. Archived from the original on 13 May 2019. Retrieved 13 May 2019. "Lee Kun-hee Archived 18 September 2015 at the Wayback Machine". Encyclopedia Britannica. Retrieved 5 April 2020. Chung, Grace. "Lee Kun-Hee, Legendary Head Of Samsung And Korea's Richest Man, Dies At 78". Forbes. Retrieved 25 October 2020. Herald, The Korea (29 March 2011). "Hong Ra-hee makes comeback as Leeum's director". Archived from the original on 24 April 2016. Retrieved 9 March 2016. Herald, The Korea (29 March 2011). "Hong Ra-hee makes comeback as Leeum's director". www.koreaherald.com. Retrieved 25 October 2020. "JoongAng's late chairman's wife dies". koreajoongangdaily.joins.com. 5 June 2013. Retrieved 25 October 2020. Samsung promotes chairman's son to president Archived 5 December 2010 at the Wayback Machine, Kelly olsen, AP, 3 December 2010 "The descendants of the Samsung family lived uncomfortably and their suicides were killed (2)". 24 August 2010. Archived from the original on 24 February 2017. Retrieved 27 September 2018. "Samsung Feud: The Court Case Begins". The Wall Street Journal. 30 May 2012. Archived from the original on 14 November 2016. Retrieved 30 May 2012. "Samsung boss Lee Kun-hee wins inheritance case appeal". BBC News. 6 February 2014. Archived from the original on 8 February 2014. Retrieved 21 July 2018. "Finding a Cure for Cancer – News – SNU Media – News & Forum – SNU". www.useoul.edu. Archived from the original on 13 May 2014. Retrieved 13 May 2019. "No Apparent Health Problems for Samsung Chief". world.kbs.co.kr. Retrieved 25 October 2020. 이건희 삼성 회장 별세...향년 78세 Dafoe, Taylor (7 July 2021). "The Late Samsung Chairman's Multibillion-Dollar Art Collection Is Getting Its Own Dedicated Museum in Seoul". Artnet. Retrieved 7 July 2021. Business positions Preceded by Lee Byung-chul Chairman of Samsung Group December 1987 – April 2008 Succeeded by Lee Soo-bin Preceded by Lee Soo-bin Chairman of Samsung Group March 2010 – October 2020 Succeeded by Lee Jae-yong

 Lee Kun-hee (Korean: 이건희; Hanja: 李健熙, Korean: [iːɡʌnɣi]; 9 January 1942 – 25 October 2020) was a South Korean business magnate who served as the chairman of Samsung Group from 1987 to 2008, and again from 2010 until his death in 2020. He is also credited with the transformation of Samsung to one of the world's largest business entities that engages in semiconductors, smartphones, electronics, shipbuilding, construction, and other businesses. Since Lee Kun-hee became the chairman of Samsung, the company became the world's largest manufacturer of smartphones, memory chips, and appliances. He was the third son of Samsung founder Lee Byung-chul. With an estimated net worth of US$21 billion at the time of his death,[1] he was the richest person in South Korea, a position that he had held since 2007. He was convicted twice, once in 1996 and subsequently in 2008, for corruption and tax evasion charges, but was pardoned on both instances. In 2014, Lee was named the world's 35th mo