Lee Joong-keun
Seoul, South Korea
Doctorate, Korea University
South Korea
Booyoung Group
construction, real estate, Self Made
$1,600,000,000
1349
#19 Korea's 50 Richest 2019
#1349 Billionaires 2019
Lee Joong-keun is credited with introducing rental housing in South Korea and is the founder of Booyoung Group, a property and construction giant. In February 2018, he went to jail on charges of embezzlement, tax evasion and creating a slush fund. He denied the charges and is awaiting trial. In 2004, he served a three-year jail term and paid $11.5 million in fines after being convicted of embezzling company funds. In November 2018, he was convicted and sentenced to five years in prison but was released on bail due to health problems. He is also invested in hotels, country clubs and resorts in the country.
In 1979, he filed for bankruptcy and put Booyoung's shares in his relatives' names in order to do deals.A generous benefactor, he donates to families of disaster victims and grants scholarships and school supplies to support education in Southeast Asia.
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