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Main page Lee Jae-yong (businessman)

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About Wikipedia In this Korean name, the family name is Lee.
Contact us Lee Jae-yong (Korean: 이재용; Hanja: 李在鎔; born 23 June 1968), known professionally in the West as Jay Y. Lee,[4] is a South Korean
Donate Lee Jae-yong
business magnate and Chairman of Samsung. He is the eldest child and only son of Hong Ra-hee and Lee Kun-hee, Chairman of
Contribute Samsung until his death in 2020, and is his father's successor. [5] He is referred to as the "Crown Prince of Samsung" by the South Korean
Help media and speaks Korean, English, and Japanese.[6] As of June 2020, Lee is estimated to be worth US$6.7 billion, making him the fourth-
Learn to edit wealthiest person in South Korea.[7] In January 2021, Lee was sidelined from taking part in major Samsung business dealings after he
Community portal resumed serving a prison sentence for a bribery and embezzlement conviction.[8]
Recent changes
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
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Most Powerful People along with his father.[9]
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Contents [hide]
What links here
Related changes 1 Personal life
Special pages 2 Career at Samsung
Permanent link 2.1 2017 arrest and conviction
Page information
2.2 Management style
Cite this page
3 References
Wikidata item Lee attending a National Assembly hearing in
4 External links
2016
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Born 이재용
Download as PDF 23 June 1968 (age 52)
Printable version Personal life [ edit ]
Yongsan, Seoul, South
Jae-yong was born in Seoul, South Korea to Lee Kun-hee. He attended Kyungbock High School. He received his B.A. in East Asian Korea
In other projects
history from Seoul National University,[10] and his M.B.A. from Keio University. He attended Harvard Business School for about five years Alma mater Seoul National University
Wikimedia Commons Keio University
in pursuit of a Doctor of Business Administration degree, but did not graduate.[11]
Harvard Business School
Languages
Lee is rarely seen in public and avoids publicity. He has two younger sisters, Lee Boo-jin, Lee Seo-hyun, and was the older brother of the Occupation Chairman of Samsung
‫اﻟﻌﺮﺑﯿﺔ‬ late Lee Yoon-hyung.[12] Net worth $ 10.1 billion (January
Deutsch
Lee has one son (born 1997) and one daughter (born 2004) with his ex-wife Lim Se-ryung, whom he divorced in 2009.[13][10] Lee enjoys 2021)[1]
Español
Français golf and horseback riding.[10] Spouse(s) Lim Se-ryeong
(m. 1997; div. 2009)[2]
한국어
Bahasa Indonesia Children 2[3]
Русский
Career at Samsung [ edit ]
Parent(s) Lee Kun-hee
Tiếng Việt Jae-yong started working for Samsung in 1991. He began serving as Vice President of Strategic Planning and then as "Chief Customer Hong Ra-hee
Officer", a management position created exclusively for Lee. His prospects for future company leadership dimmed when his father Kun- Korean name
9 more hee stepped down as Chairman due to tax evasion.[14] In December 2009, however, his succession prospects were revived when Lee Hangul 이재용
became the Chief Operating Officer of Samsung Electronics. Since December 2012, he has been Vice Chairman of Samsung. He is one of
Edit links Hanja 李在鎔
the main shareholders of Samsung's financial services subsidiary, owning 11 percent of Samsung SDS.[6] He has been described as
Revised I Jaeyong
having "been groomed to take over the family firm".[15] Romanization
McCune– Yi Chaeyong
2017 arrest and conviction [ edit ] Reischauer

In January 2017, Lee was accused "of bribery, embezzlement and perjury" by the South Korean prosecutor's office,[16] and after an
investigation he was arrested on February 16, 2017. On August 25, 2017 Lee was sentenced to 5 years in prison after being found guilty of corruption. On February 5, 2018, the appeals
court suspended his sentence and reduced it to 2.5 years, releasing him.[17]

Lee's arrest was largely prompted by the investigation of the Choi Soon-sil scandal, which could be traced back to the father-to-son shift in ownership of Samsung in 2014. His
involvement in a bribery act with the then-South Korean President Park Geun-hye was first brought to the table by that arrest warrant issued in January 2017 by the South Korea
prosecutor's office, which led to his later arrest in mid-February of the same year.[citation needed] On January 12, 2017 the special prosecutor's office said it would decide "soon" whether
to seek an arrest warrant for Lee. After his arrest, Lee was questioned for more than 22 hours concerning illegal activities including bribery in the scandal that consumed president
Park.[18]

On 16 January 2017, the prosecutor's office finally decided to seek an arrest warrant for Lee.[19][20] The warrant was denied based on a court ruling from 19 January, with the Central
District Court Justice Cho Eui-yeon stating that it was "difficult to recognize the need" for his incarceration.[21][22] On 17 February 2017, Lee was "formally arrested after the Seoul central
district court issued a warrant on the night" of 16 February for "handing bribes worth almost £30m to then South Korean president Park Geun-hye and her close friend Choi Soon-sil to
win government favours for a smooth leadership transition."[23]

Subsequent to 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.[24] A spokesman for Samsung said, "We will do our best to ensure that the truth is revealed in future court proceedings."[23] On 28
February 2017, the Wall Street Journal reported that "South Korean prosecutors said they would indict the Samsung conglomerate’s de facto leader Lee Jae-yong on charges of bribery
and four other offenses."[25] It was reported on 7 August 2017, that prosecutors demanded a twelve-year sentence for Lee.[26] On 25 August, Lee Jae-yong was sentenced to 5 years in
jail.[27] He will now be in prison pending a trial in the appellate court.[28]

On 5 February 2018, Lee was freed from jail after a South Korean court suspended his five-year jail term for bribing ex-president, Park Geun-hye.[29]

On January 18, 2021, Lee was sentenced to two years and six months in prison by a high court and transferred to Seoul Detention Center.[30]

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.[10] When he resumed serving his prison sentence in January 2021, however, the Australian Broadcasting Corporation reported that Lee was still Samsung's "Vice-
Chairman."[31]

References [ edit ]

1. ^ "#330 Jay Y. Lee" , Forbes (profile), retrieved 26 June 2020 3. ^ ’"둘째딸 낳은 삼성전자 이재용 상무 부인 임세령" , The Dong-a Ilbo (News), retrieved 22 July
2. ^ "임세령 이재용 부부, 이혼소송 중…사실상 별거상태" , Star Seoul (News), 13 February 2009 2016
 4. ^ "A Chinese Court Rejects Arrest of Samsung Heir Jay Y. Lee" . Bloomberg L.P. 18 January 20. ^ Pham, Sherisse (16 January 2017). "South Korean prosecutors seek to arrest Samsung
2017. Retrieved 7 August 2017. heir" . CNNMoney. Retrieved 16 January 2017.
5. ^ "Samsung heir Lee Jae-yong arrested in South Korea" . BBC News. 17 February 2017. 21. ^ SANG-HUN, CHOE. "In a Blow to Prosecutor, South Korean Court Blocks Arrest of
Retrieved 7 August 2017. Samsung Leader" . The New York Times. Retrieved 19 January 2017.
6. ^ a b "All Eyes Are On Samsung's 'Crown Prince' " . 22. ^ "South Korean court dismisses arrest warrant for Samsung chief" . Reuters. 19 January
7. ^ "#330 Jay Y. Lee" . Forbes. Retrieved 26 June 2020. 2017. Retrieved 19 January 2017.
8. ^ "Samsung heir Lee Jae-yong sentenced to 30 months in prison in bribery case" . South 23. ^ a b "Samsung heir Lee Jae-yong arrested amid bribery allegations" . The Telegraph.
China Morning Post. Reuters. 18 January 2021. Retrieved 31 January 2021. Retrieved 17 February 2017.
9. ^ "The World's Most Powerful People" . 24. ^ "What Samsung's saying - All you wanted to know about the arrest of Samsung heir Lee
10. ^ a b c d "Jay Lee, Samsung's unassuming heir apparent" . Reuters. 5 December 2016. Jae-yong - The Economic Times" . The Economic Times. Retrieved 20 February 2017.
11. ^ Lee, Jungah; Clenfield, Jason (26 August 2014). "Samsung Low-Profile Heir Poised to 25. ^ Martin, Timothy W. (28 February 2017). "Samsung Heir Lee Jae-yong to Be Indicted on
Succeed Father Seen as a God" . Bloomberg L.P. Bribery Charges" . The Wall Street Journal. New York City. Retrieved 27 February 2017.
12. ^ 李在Օ
李 富真、李叙显今日将齐聚新上任高管晚宴 . Retrieved 2016-08-12 26. ^ McCurry, Justin (7 August 2017). "South Korea prosecutors demand 12-year sentence for
13. ^ "Jay Y. Lee" . Samsung boss" . The Guardian. ISSN 0261-3077 . Retrieved 7 August 2017.
14. ^ "Technology - Bloomberg" . 27. ^ "Prosecutors seek 12-year sentence for Samsung's Lee Jae-yong" . BBC News. 7 August
15. ^ "Samsung scandal: Who is Lee Jae-yong?" . BBC News. 5 February 2018. Archived 2017. Retrieved 7 August 2017.
from the original on 30 December 2020. Retrieved 30 December 2020. 28. ^ "Samsung heir sentenced to five years in jail" . ZDNet. 25 August 2017. Retrieved
16. ^ "Lee Jae-yong dodges arrest on charges of bribery" . The Economist. Retrieved 26 August 2017.
17 February 2017. 29. ^ "Samsung heir freed from S Korea jail" . BBC News. 5 February 2018.
17. ^ "Samsung heir Lee Jae-yong released from prison on appeal" . 30. ^ "Lee Jae Yong: Samsung heir gets prison term for bribery scandal" . BBC. 18 January
18. ^ "South Korea prosecutor to decide 'soon' whether to seek arrest warrant for Samsung's 2021.
Lee" . Reuters. 13 January 2017. Retrieved 13 January 2017. 31. ^ "Samsung heir Lee Jae-yong sentenced to two-and-a-half years in prison over bribery and
19. ^ "South Korea prosecutor seeks arrest of Samsung chief for bribery" . Reuters. 16 January embezzlement" . Australian Broadcasting Corporation. 18 January 2021. Retrieved
2017. Retrieved 16 January 2017. 31 January 2020.

External links [ edit ]

Forbes profile
BusinessWeek profile

V·T·E Samsung [show]

V·T·E 2016 South Korean political scandal [show]

Categories: 1969 births Living people 20th-century South Korean businesspeople 21st-century South Korean businesspeople Keio University alumni
Seoul National University alumni South Korean billionaires Samsung people Harvard Business School alumni People from Washington, D.C. People from Seoul
South Korean criminals South Korean prisoners and detainees People convicted of bribery

This page was last edited on 21 February 2021, at 12:35 (UTC).

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