Lee Myung-hee

Lee Myung-hee (Korean: 이명희; born 5 September 1943[2]) is a South Korean business magnate and the chairwoman of the Shinsegae Group. She is the youngest daughter of Lee Byung-chul, founder of the Samsung Group and the sister of the former late chairman Lee Kun-Hee. Lee became the company's chairwoman in 1997 following its separation from Samsung and is credited for growing it into the country's second-largest retailer. With an estimated net worth of $840 million she is one of the wealthiest people in South Korea and was ranked 20th on Forbes 2017 list of 50 Richest Koreans.[2]

For the volleyball player, see Lee Meong-hee.
In this Korean name, the family name is Lee.
Lee Myung-hee
Lee in 2016
Born (1943-09-05) 5 September 1943
Uiryeong, South Gyeongsang Province, Japanese Korea
NationalitySouth Korean
Alma materEwha Womans University
OccupationChairman of Shinsegae Group
Net worthUS$840 million (September 2020)[1]
Spouse(s)Chung Jae-eun
Children2, including Chung Yong-jin
Parent(s)Lee Byung-chul (1909–1987)
Park Du-eul (1907–1999)
Korean name
Hangul
Hanja
Revised RomanizationLee Myeonghui
McCune–ReischauerI Myŏnghŭi

Biography

Lee was born in Uiryeong County to Samsung founder Lee Byung-chul and his first wife Park Du-eul as the youngest of eight children. She attended Ewha Girls' High School and then majored in art at Ewha Womans University before marrying. After ten years of being a homemaker she became a sales executive at Shinsegae Department Store in 1979 and then its Chairwoman in 1997 after the company was separated from Samsung.[2]

Financial scandals

During her time as chairwoman Lee has been fined on three occasions. The first was in 2006 for 350 billion won ($300 million) after she hid 800 billion wons worth of stock under different names. In 2012 the Fair Trade Commission fined Lee 4 billion won ($3.4 million) for charging different transaction fees. Then in 2015 she was fined 70 billion won for hiding 380,000 company shares worth 80 billion won ($68 million) under different names.[2][3]

References
  1. "Lee Myung-Hee", Forbes (profile), retrieved 28 September 2020
  2. "Lee Myung-hee". The Investor. Retrieved 3 November 2017.
  3. Bae, Ji-sook (10 November 2015). "Shinsegae chairwoman caught with borrowed-name stocks again". The Korea Herald. Retrieved 3 November 2017.
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