Lee Jae-yong (; born June 23, 1968) is a South Korean business executive who has served as the executive chairman of

Samsung Electronics Samsung Electronics Co., Ltd. (SEC; stylized as SΛMSUNG; ) is a South Korean multinational major appliance and consumer electronics corporation founded on 13 January 1969 and headquartered in Yeongtong District, Suwon, South Korea. It is curr ...

since October 2022. He is the only son of

Lee Kun-hee Lee Kun-hee (; 9 January 194225 October 2020) was a South Korean businessman who served as the chairman of Samsung from 1987 to 2008 and from 2010 to his death in 2020. He is also credited with the transformation of Samsung to one of the world' ...

and Hong Ra-hee. As of December 2024, Lee has an estimated net worth of , making him the richest person in the country.

Early life and education

Lee was born in

Washington, D.C. Washington, D.C., formally the District of Columbia and commonly known as Washington or D.C., is the capital city and federal district of the United States. The city is on the Potomac River, across from Virginia, and shares land borders with ...

, United States to

and Hong Ra-hee. He attended Kyungbock High School. He received his

Bachelor of Arts A Bachelor of Arts (abbreviated B.A., BA, A.B. or AB; from the Latin ', ', or ') is the holder of a bachelor's degree awarded for an undergraduate program in the liberal arts, or, in some cases, other disciplines. A Bachelor of Arts deg ...

degree in East Asian history from

Seoul National University Seoul National University (SNU; ) is a public university, public research university in Seoul, South Korea. It is one of the SKY (universities), SKY universities and a part of the Flagship Korean National Universities. The university's main c ...

, and his

Master of Business Administration A Master of Business Administration (MBA) is a professional degree focused on business administration. The core courses in an MBA program cover various areas of business administration; elective courses may allow further study in a particular ...

degree from

Keio University , abbreviated as or , is a private university, private research university located in Minato, Tokyo, Japan. It was originally established as a school for Rangaku, Western studies in 1858 in Edo. It was granted university status in 1920, becomi ...

, which is a rival University of his father and grandfather's alma mater

Waseda University Waseda University (Japanese: ), abbreviated as or , is a private university, private research university in Shinjuku, Tokyo. Founded in 1882 as the Tōkyō Professional School by Ōkuma Shigenobu, the fifth Prime Minister of Japan, prime ministe ...

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

. He attended

Harvard Business School Harvard Business School (HBS) is the graduate school, graduate business school of Harvard University, a Private university, private Ivy League research university. Located in Allston, Massachusetts, HBS owns Harvard Business Publishing, which p ...

and graduated with a

Doctor of Business Administration The Doctor of Business Administration (DBA) is a terminal degree in business administration. The DBA is classified as a research doctorate or professional doctorate depending on the granting university and country where the degree was awarded. ...

degree. Lee is fluent in his native Korean, English, and Japanese.

Career

1991–present: Career at Samsung

Lee started working for

Samsung Samsung Group (; stylised as SΛMSUNG) is a South Korean Multinational corporation, multinational manufacturing Conglomerate (company), conglomerate headquartered in the Samsung Town office complex in Seoul. The group consists of numerous a ...

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 Tax evasion or tax fraud is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to red ...

. In December 2009, however, his succession prospects were revived when Lee became the

chief operating officer A chief operating officer (COO), also called chief operations officer, is an executive in charge of the daily operations of an organization (i.e. personnel, resources, and logistics). COOs are usually second-in-command immediately after the C ...

. Since December 2012, he has been

vice chairman The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the gro ...

of Samsung. He is one of the main shareholders of Samsung's financial services subsidiary, owning 11 percent of

Samsung SDS Samsung SDS Co., Ltd. (formerly Samsung Data Systems; ), Established in 1985 as a subsidiary of Samsung Group, is a provider of Information Technology (IT) services, including consulting, technical, and outsourcing services. SDS is also active ...

. He has been described as having "been groomed to take over the family firm".

Monetary kickbacks, perjury, arrest and conviction

In January 2017, special prosecutors of the

Supreme Prosecutors' Office of the Republic of Korea The Supreme Prosecutors' Office of the Republic of Korea (SPO; ) is a governmental prosecutor organization in South Korea and is run under the Ministry of Justice. As a national representative of prosecutors, the Office works with the Supreme C ...

accused Lee of bribery, embezzlement and perjury. Lee was questioned for more than 22 hours. 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. Lee was charged with bribing President

Park Geun-hye Park Geun-hye (; ; born 2 February 1952) is a South Korean politician who served as the 11th president of South Korea from 2013 until Impeachment of Park Geun-hye, she was removed from office in 2017. Park was the first and to date only woman ...

and her close friend

Choi Soon-sil Choi Soon-sil (; born June 23, 1956) is a South Korean businesswoman known primarily for her involvement in the 2016 South Korean political scandal, stemming from her influence over the 11th President of South Korea, Park Geun-hye. In 2018, a ...

. An initial request for an

arrest warrant An arrest warrant is a warrant issued by a judge or magistrate on behalf of the state which authorizes the arrest and detention of an individual or the search and seizure of an individual's property. Canada Arrest warrants are issued by a jud ...

was rejected by the Seoul Central District Court in mid-January 2017. In February 2017, Lee was formally indicted, and arrested after the Seoul Central District Court issued a warrant. Lee was charged with "offering 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." After his arrest,

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. A spokesman for Samsung said, "We will do our best to ensure that the truth is revealed in future court proceedings." The case attracted the attention of the South Korean public; public opinion had turned against ''

chaebol A chaebol ( , ; , ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group. Several dozen large South Kore ...

s'', whose influence on society angered many. 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 had sought a 12-year sentence). 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. Subsequently, the Supreme Court of South Korea sent the case back to Seoul High Court, which held a retrial. 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 (, ), and found that Samsung's independent compliance committee, established in 2020, was not yet fully effective. Lee was returned to prison.

2021–2022: Pardon

In mid-2021, the

United States Chamber of Commerce The United States Chamber of Commerce (USCC) is a business association advocacy group and is the largest lobbying group in the United States. The group was founded in April 1912 out of local chambers of commerce at the urging of President Will ...

, 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 Joseph Robinette Biden Jr. (born November 20, 1942) is an American politician who was the 46th president of the United States from 2021 to 2025. A member of the Democratic Party (United States), Democratic Party, he served as the 47th vice p ...

's efforts to end American dependence on computer chips produced overseas amid the 2020–2023 global chip shortage. Lee was released on

parole Parole, also known as provisional release, supervised release, or being on paper, is a form of early release of a prisoner, prison inmate where the prisoner agrees to abide by behavioral conditions, including checking-in with their designated ...

from the Seoul Detention Center in

Uiwang Uiwang (; ) is a city in Gyeonggi Province, South Korea. It is one of many satellite cities that ring Seoul, making up the Seoul Capital Area. Its largest immediate urban neighbor is Anyang. The low peaks of the Gwangju Mountains (including M ...

on August 13, 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. 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." In August 2021, ''

The Korea Herald ''The Korea Herald'' () is a South Korean English-language daily newspaper founded in August 1953 and published in Seoul. The editorial staff is composed of Korean and international writers and editors, with additional news coverage drawn from i ...

'' 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. In August 2022, President

Yoon Suk Yeol Yoon Suk Yeol (; born 18 December 1960) is a South Korean politician and former prosecutor who served as the 13th president of South Korea from 2022 until Impeachment of Yoon Suk Yeol, he was removed from office in 2025. The shortest-serving ...

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. However, as March 2025, Jun Young-hyun serves as the company's sole leader.

Public image

According to an article in ''

Reuters Reuters ( ) is a news agency owned by Thomson Reuters. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide writing in 16 languages. Reuters is one of the largest news agencies in the world. The agency ...

'', 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.

Personal life

Lee has one son Lee Ji-ho (born 2000) and one daughter Lee Won-joo (born 2004) with his ex-wife .' Lim is the Vice Chairwoman of Daesung Group. She filed for divorce from Lee Jae-yong in 2009. Lee is the cousin of

CJ Group CJ Corporation (), doing business as CJ Group () or simply CJ, is a South Korean conglomerate holding company, operating internationally. It is one of the largest chaebol headquartered in Seoul, South Korea. It comprises numerous businesses in ...

chairman Lee Jay-hyun and

Shinsegae Shinsegae Inc. (, ) is a South Korean department store Franchising, franchise, along with several other businesses, headquartered in Seoul, South Korea. The firm is an affiliate of Shinsegae Group, South Korea's leading retail ''chaebol'', and ...

Group CEO Chung Yong-jin. Lee enjoys golf and

horse riding Equestrianism (from Latin , , , 'horseman', 'horse'), commonly known as horse riding ( Commonwealth English) or horseback riding (American English), includes the disciplines of riding, driving, and vaulting. This broad description includes the ...

2021 drug conviction

On October 26, 2021, Lee was convicted for illegally using the drug

propofol Propofol is the active component of an intravenous anesthetic formulation used for induction and maintenance of general anesthesia. It is chemically termed 2,6-diisopropylphenol. The formulation was approved under the brand name Diprivan. Nu ...

multiple times between 2015 and 2020 from a plastic surgery clinic. He was sentenced to a fine of (US$60,055).

References

External links

Forbes profile

BusinessWeek profile
{{DEFAULTSORT:Lee, Jae-yong 1969 births Living people People from Yongsan District 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 Businesspeople from Washington, D.C. Businesspeople from Seoul South Korean fraudsters South Korean prisoners and detainees People convicted of bribery Prisoners and detainees of South Korea People convicted of embezzlement Lee family (South Korea) Recipients of South Korean presidential pardons Kyungbock High School alumni Technology corporate directors Businesspeople in electronics South Korean chairpersons of corporations Chief operating officers