Lee Jay-Hyun
CJ Corporation
$2.3 B
The eldest grandson of late Samsung founder Lee Byung-Chull, Lee Jay-Hyun inherited CJ Group, which officially separated from Samsung in 1997. Founded in 1953 as Cheil Jedang, the company began as a sugar mill and boosted domestic sugar production just after the end of the Korean War. Now a diversified conglomerate, it operates the country’s largest food and beverage company, CJ Cheiljedang, famous for convenience items such as microwaveable rice. CJ Foodville runs Western-style family restaurants as well as bakeries, cafes and ice cream shops under various brand names. Other CJ interests include pharmaceuticals (antibiotics and vaccines) and bio products (animal feed and food additives). In 1995, CJ paid $300 million for an 11% stake in the Steven Spielberg production vehicle Dreamworks SKG. Its entertainment and media business, CJ E&M, is run by Lee’s sister Lee Mi-Kyung, or Miky Lee, and encompasses film and music production, Internet services, cable TV-based home shopping, a national multiplex theater chain and m-net, a cable music channel. CJ Group’s expansion has slowed in recent years due in part to a leadership vacuum. In 2014, Lee Jay-Hyun was convicted for misdeeds including embezzlement and tax evasion. It isn’t clear if he spent any time behind bars, however; he claimed to be in poor health and had undergone surgery. In August 2016, he was pardoned by then-president Park Geun-hye.
Korean businessman Lee Jay-Hyun has an estimated net worth of $2.5 billion as of April 2016 according to Forbes. This 53-year old businessman is a graduate of Korea University. Forbes reported that Lee Jay-Hyun is currently married with four children. He is known to be the grandson of Samsung’s late founder. CJ Group separated from Samsung in 1997 and through time, CJ Group developed into the biggest food processor in Korea which later expanded into pharmaceuticals, media, home shopping, logistics and entertainment.
Among its notable subsidiaries include CJ Entertainment which is considered as the largest film distributor and investor in Korea, CJ CGV which is hailed as Korea’s largest multiplex theater chain, and Mnet Media. Through time, CJ Group has made several acquisitions which include companies like Wonhyeong Industrial CO, Korea Express, OnMedia, Dongryp Industrial Corp., Yongin Hog Farm, Accord Express, CJ Consortium, CJ Internet, Hanil Pharmaceuticals Ind, Shin Dong Bang Corp., Dongyang Jedang and Mipung Industrial CO. This South Korean conglomerate company operates through its numerous subsidiaries worldwide.
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