ADVERTISEMENT

Last Updated:
2024-09-22 08:21:10

Lee Jae Yong

South Korean business magnate and executive chairman.
South Korean business magnate and executive chairman.

Lee Jae Yong, also known as Jay Y. Lee, is the son of Lee Kun-hee. He is the executive chairman of Samsung Electronics and has an estimated net worth of US$11 billion. In 2014, he was named the world's 35th most powerful person by Forbes Magazine.

Community for Timeline Editors
Place where unique editors like you interact
17/22
1968
Birth of Lee Jae Yong

Lee Jae Yong was born in Seoul in 1968 as the grandson of Samsung founder Lee Byung-chull and the only son of Samsung Electronics chairman Lee Kun-hee.

1987
Lee Jae-yong becomes chairman of Samsung

After his father's death in 1987, Lee Jae-yong became the chairman of Samsung.

1991
Joining Samsung Group

In 1991, he joined Samsung Group, marking the beginning of his career with the company.

1998
Lee's Marriage to Lim Se-ryong

In 1998, Lee got married to Lim Se-ryong, daughter of Daesang Group honorary chairman Lim Chang-wook. This marriage lasted for 11 years and they have two children.

2009
Lee's Divorce from Lim Se-ryong

In 2009, Lee divorced Lim Se-ryong, daughter of Daesang Group honorary chairman Lim Chang-wook, after being married for 11 years. They have two children together.

2012-12
Lee Jae-yong becomes vice chairman of Samsung

In December 2012, Lee Jae-yong was appointed as the vice chairman of Samsung, signifying a significant milestone in his career at the company.

2014
Assuming Leadership Role

Since 2014, he has been practically leading Samsung following his father's illness, demonstrating his pivotal role in the company's operations.

2015
2015 merger and legal controversy

Lee Jae Yong was involved in a legal controversy related to the 2015 merger, where he denied wrongdoing and described it as 'normal business activity'. The ruling on this case was criticized by activists and civic groups for putting Lee's interests before those of shareholders and pensioners.

2017-08-25
Lee Jae-yong sentenced to prison

On August 25, 2017, Lee Jae-yong was sentenced to five years in prison on bribery conviction.

2017-11-06
Conviction in bribery case

Lee Jae Yong had previously been convicted in a separate case of bribing a former president while seeking government support for the merger. This case raised questions about his innocence in the subsequent legal controversy.

2018-02
Reduction of Prison Sentence for Lee Jae Yong

In February 2018, the Seoul High Court reduced Lee Jae Yong's prison sentence to 2.5 years and suspended it, leading to his release after one year of detention.

2020
Lee Jae-Yong's Legal Troubles

Lee Jae-Yong, the South Korean businessman, faced legal troubles in 2020.

2021-08-13
Release on Parole of Lee Jae Yong

On 13 August 2021, Lee Jae Yong was released on parole from the Seoul Detention Center in Uiwang, with conditions including business restrictions for five years and requiring permission before travelling outside South Korea.

2021-10-26
Drug Conviction of Lee Jae Yong

On 26 October 2021, Lee Jae Yong was convicted for illegally using the drug propofol multiple times between 2015 and 2020 from a plastic surgery clinic and was sentenced to paying a fine of 70 million won.

2022-08
Presidential Pardon of Lee Jae Yong

In August 2022, President Yoon Suk-yeol granted a pardon to Lee Jae Yong, citing Samsung's importance to the economy, which opened the door for Lee to take up leadership of the conglomerate.

2022-10
Lee Jae Yong appointed chairman of Samsung Electronics

Lee Jae Yong, the third-generation corporate heir, was officially appointed chairman of Samsung Electronics in October 2022, succeeding his late father. This event marked a significant transition in the leadership of the Samsung group of companies.

2024-02-05
Acquittal of Samsung Electronics Chairman Lee Jae-yong

Samsung Electronics Chairman Lee Jae-yong was acquitted of financial crimes in relation to a contentious merger between two Samsung affiliates in 2015 that tightened his grip over South Korea’s biggest company. The Seoul Central District Court ruled that the prosecution failed to sufficiently prove the unlawfulness of the merger.

End of the Timeline
Lee Jae Yong
Become an Editor of Timeline Wiki
Become an Editor of
Timeline Wiki
USD $0 for creating and editing infinite number of timelines after sign up.