Lee Dong-chae

In this Korean name, the family name is Lee.
Lee Dong-chae
이동채
Born (1959-12-10) December 10, 1959 (age 65)
Pohang, South Korea
EducationYeungnam University
OccupationBusinessman
EmployerEco Pro [ko]
Children
  • Lee Seung-hwan
  • Lee Yeon-su
Korean name
Hangul
이동채
Revised RomanizationI Dongchae
McCune–ReischauerI Tongchae

Lee Dong-chae (Korean: 이동채; born December 10, 1959[1]) is a South Korean businessman. The founder and largest shareholder (18.83% as of 2024) of the company Eco Pro [ko],[1] he is among the richest people in South Korea. In December 2024, Forbes estimated his net wealth at US$1.7 billion and ranked the 16th richest person in the county.[2]

Biography

Lee was born on December 10, 1959 in Pohang, South Korea as the second of eight children (all sisters, except for him). He graduated from Daegu Commercial High School [ko] and Yeungnam University with a major in business administration. He worked at Housing & Commercial Bank [ko] and Samsung Electronics, then became certified as a Certified Public Accountant. In 1998, he founded the predecessor to Eco Pro (코리아제오륨); it changed names to Eco Pro in 2001. The company began trading battery precursors in 2004, and this arm of the business soon grew to become one of its most significant. In 2007, the company was listed on the KOSDAQ stock exchange.[1]

He stepped down as CEO of the company in March 2022 and made an advisor, admist allegations of and investigations into his insider trading.[1] On May 11, 2023, he was found guilty of insider trading valued at ₩1.1 billion, fined ₩2.2 billion and a surcharge of ₩1.1 billion, and sentenced to 15 months in prison.[3][1] He appealed the verdict, but the Supreme Court rejected his appeal.[1] After serving around half his sentence, he received a special pardon and was released from prison in August 2024.[3] He then returned to his advisory role to the company.[1]

In December 2024, months after his release from prison, Eco Pro began to be investigated for allegations of having a slush fund for the purpose of tax avoidance.[4][5]

Personal life

He is married to Kim Ae-hee (김애희), with whom he has a son, Lee Seung-hwan (이승환; born 1989[5]), and a daughter, Lee Yeon-su (이연수; born 1991). Both his children graduated from Yonsei University and are executives at Eco Pro.[1]

References

  1. ^ a b c d e f g h 신, 재희 (2024-10-28). "[Who Is ?] 이동채 에코프로그룹 창업주 겸 에코프로 상임고문". 비즈니스포스트 (in Korean). Retrieved 2024-12-19.
  2. ^ "Lee Dong-chae". Forbes. Retrieved 2024-12-19.
  3. ^ a b 이동채 전 에코프로 회장, 1년 만에 특별사면…"혼연일체 될 것". 한국경제 (in Korean). 2024-08-13. Retrieved 2024-12-19.
  4. ^ 박, 영범 (2024-12-19). 에코프로비엠, 국세청 '저승사자' 조사4국 특별세무조사…이동채 전 회장 비리 재조명. e프레시뉴스 (in Korean). Retrieved 2024-12-19.
  5. ^ a b 오, 두환 (2024-12-19). 에코프로비엠·에코프로글로벌 '국세청 세무조사' 내막. 더퍼블릭 (in Korean). Retrieved 2024-12-19.