Summary
Lee Maeng-hee, the second chairman of Samsung Group and the second and honorary chairman of Cheil Jedang, was the eldest son of Lee Byung-chul, the founder of Samsung Group, and was once considered a prominent successor to lead the conglomerate. Born into a family that would become one of South Korea’s most influential business dynasties, his life story intertwines closely with the history and evolution of Samsung.
Lee Maeng-hee’s early life was marked by expectations that he would continue his father’s legacy. However, his path diverged significantly due to internal family conflicts and controversies. Despite being poised to take over the helm of Samsung, a series of events in the 1960s, including a misunderstanding related to a saccharin smuggling incident involving his brother, Lee Chang-hee, led to a falling out with his father. This misunderstanding resulted in his father favoring his younger brother, Lee Kun-hee, over him for the leadership of Samsung.
Following the death of Lee Byung-chul, the Samsung empire was divided among his children, with Lee Maeng-hee taking over businesses related to Cheil Jedang, which later transformed into CJ. His tenure saw the evolution of CJ into a significant conglomerate under the leadership of his son, Lee Jay-hyun.
Lee Maeng-hee’s relationship with his brother, Lee Kun-hee, was complex, characterized by a mix of rivalry and estrangement that lasted nearly half a century. Despite their shared heritage, the two brothers found themselves on different paths, with Lee Maeng-hee often referred to as the “tragic crown prince” of the family due to his eventual exclusion from the core Samsung businesses.
In 2012, Lee Maeng-hee attempted to claim a portion of his father’s inheritance, including stocks in Samsung Life Insurance and Samsung Electronics, through a lawsuit against Lee Kun-hee. However, after losing in the lower courts, he eventually gave up the legal battle.
Lee Maeng-hee’s later years were marked by health challenges, including a diagnosis of stage II lung cancer in 2012, which led to surgery and ongoing treatment. His battle with cancer saw him seeking treatment in Japan and China, where he spent his final years focusing on his health.
Timeline
▲ 1931 = Born in Uiryeong, South Gyeongsang Province.
▲ 1951 = Enrolled in Tokyo University of Agriculture.
▲ 1957 = Graduated from the graduate school of Tokyo University of Agriculture.
▲ 1959 = Earned a Ph.D. in Economics from Michigan State University in the United States.
▲ 1960 = Joined Hanil Bank.
▲ 1964 = Became a director at Ankok Fire & Marine Insurance.
▲ 1967 = Became an executive director at Mipoong Industry.
▲ 1968 = Appointed as vice president of Samsung C&T, vice president of Mipoong Industry, director of the Samsung Foundation of Culture, vice president of JoongAng Ilbo, vice president of Samsung Electronics, and vice president and CEO of Cheil Sugar.
▲ 1993 = Became chairman of Cheil Fertilizer.
