Lee Soo-man
Lee Soo-man (Korean: 이수만; Hanja: 李秀滿, born 18 June 1952) is a South Korean business executive and record producer who is best known for being the founder of SM Entertainment, a multinational South Korean entertainment company based in Seoul.[1] He has also been referred to as the "president of culture", as one of the pioneers of the Korean Wave.[2] Lee debuted as a singer in 1971 while he was a student at Seoul National University. In 1989, he founded SM Entertainment, which has since become one of the largest entertainment companies in the country.
Lee Soo-man | |
|---|---|
Lee in 2019 | |
| Born | 18 June 1952 Jeonju, Jeolla Province, South Korea |
| Alma mater | |
| Occupations |
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| Known for | Founder of SM Entertainment |
| Spouse | Kim Eun-jin (formerly known as Kim Ji Hye) (m. 1984; died 2014) |
| Children | 2 |
| Relatives |
|
| Awards | Eungwan Order of Cultural Merit (2011) |
Biography edit
1952–1980: early years and singing career edit
Lee was born in Jeonju, South Korea on 18 June 1952, and attended Seoul National University on and off between 1971 and 1979.[3][4] Lee debuted as a member of the band April and May (사월과 오월, alternatively 4월과 5월) in 1972 (he had joined the band in 1971), but he later departed from it due to health reasons.[5] He gained spotlight for his "good boy" image, supported by the fact that he was one of the few people who were not involved in the weed scandal among Korean celebrities in 1975, and his high academic credentials in Seoul National University. He became known for hit songs such as "행복 (Happiness)", released in 1978, and "한송이 꿈 (A Piece of Dream)" released in 1976.[6] In 1977, he was a member of the Korean indie band Sand Pebbles.[7] In addition to his career as a musician and his studies in university, he worked as a radio DJ and TV host during this time.[4] Lee Soo-man was also known for his trio with singers Lee Moon-sae and Yoo Yeol called Masamtrio (馬三트리오), named as such because of their appearances that resemble that of a long face of a horse.[8][9] In 1980, he formed the band 이수만과 365일 (Lee Soo-man and The 365 Days). However, media censorship policies under the Chun Doo-hwan government discouraged him from a career in the Korean music industry.[citation needed]
1980–1985: studies in the United States edit
In the early 1980s, Lee decided to leave the entertainment world in order to pursue a career in computer engineering. He went abroad to work on a master's degree at California State University, Northridge,[10] where he witnessed the rise of "superstars of the MTV generation" such as Michael Jackson.[1] Inspired by the heyday of MTV in the United States, Lee set his sights on laying the foundation for the modern Korean pop music industry. In 1985, he returned to Korea "with a vision of what the Korean music industry could be."[4]
1985–2021: founding SM Entertainment edit
Following his return to Korea, Lee ventured back into the entertainment world by working as a DJ and presenter. In 1989, after four years of saving money and gaining experience in the industry, he established an entertainment company called SM Studio (named after his initials) in the Apgujeong neighborhood of Seoul, and signed singer Hyun Jin-young. During the 1990s, SM Studio developed an in-house system that looked after all aspects of its artists' careers.[4] Lee's approach was targeted at teenage audiences, and took a holistic view of the qualities needed to become a successful entertainer.[11] The company was renamed SM Entertainment in 1995. In 1997, he founded the music production company Like Planning.[12]
In February 2010, Lee resigned from his position as a member of SM's board of directors, but maintained a role in the company's "management and artist development" divisions.[13] He continued to exert influence over SM through his production company, Like Planning,[14] taking 6% of their revenue as a consultancy fee for his involvement in the music production process.[12] He remained the biggest shareholder,[15] controlling the company's management rights.[16] He founded the music publishing company Culture Technology Group Asia in May 2015 and drone company LeePollux in February 2019.[17]
In 2019, KB Asset Management, SM's third-largest shareholder, sent an open letter to the company complaining that Like Planning was taking 46% of SM's operating profit each year.[18] They demanded a merger between Like Planning and SM, which the company rejected.[12] On 23 January 2020, Lee Soo-man was listed by Billboard as one of the world's influential music industry leaders.[19][20] He worked on South Korean girl group Loona's 2020 EP [#], which was his first ever project away from his namesake SM Entertainment.[21]
2022–present: departure from SM Entertainment edit
In October 2022, SM announced that they would terminate their production contract with Lee's Like Planning by the end of the year.[22] On 3 February 2023, SM said that they would restructure the company without the help of Lee, adopting a multi-production center system to replace his role as chief producer.[23] Kakao Entertainment purchased a 9.05% stake in SM, making them the second-largest shareholder, and signed a business agreement with SM to fund their plans.[24] Lee, objecting to this, filed an injunction against the issuance of new shares and convertible bonds, which was upheld by the court.[25] He sold his stake in SM to Hybe Corporation, making them the biggest shareholder. Hybe announced their intention to acquire the company with Lee's support. This sparked a battle for SM's management rights, pitting Lee and Hybe against the SM executives and Kakao.[26]
Lee Sung-soo, SM's co-CEO and Lee's nephew by marriage, uploaded a video to YouTube in which he levelled a series of accusations at Lee. In the video, he claimed that Lee had founded a company called CT Planning Limited in Hong Kong in 2019 to evade taxes, through which he was taking 6% of earnings from artists' overseas activities. The company had been established using SM's assets but was owned solely by Lee, and was the foreign equivalent of Like Planning. He also said that Lee wanted to force artists to publicly declare his importance to the company and attempted to insert environmental references into songs to promote his business interests.[14][27][28] The National Tax Service said they would investigate the claims of tax evasion.[29] Lacking the funds of their competitor, Hybe eventually withdrew from the takeover battle, enabling Kakao to become the largest shareholder and obtain management rights.[30] Lee released a statement saying he was "moving toward the future".[31]
Upon leaving SM, Lee established a company called Blooming Grace, which will focus "on the fusion of culture and technology". He acquired part of the Chinese autonomous aerial vehicle company EHang.[17]
Personal life edit
Lee's wife, Kim Eun-jin, died from cancer on 30 September 2014.[32]
Lee is the paternal uncle of Sunny, one of the members of the popular SM group Girls' Generation.[33]
Philanthropy edit
In 2014, Lee donated ₩500 million to the Korean Red Cross to help the victims of the Sewol ferry disaster.[34] He directed the Asia performance of Global Citizen's charity concert, Global Goal Live: The Possible Dream.[35] On 8 March 2022, he donated ₩500 million to the Hope Bridge Disaster Relief Association to help those affected by the massive wildfires that started in Uljin, Gyeongbuk. and also spread to Samcheok, Gangwon.[36]
Controversies edit
Embezzlement case and conviction edit
In 2002, the Supreme Prosecutors' Office of the Republic of Korea found evidence of Lee earning tens of billions worth of illegal market profits in August 1999 by acquiring 1.1 billion worth of stocks when listing stocks of SM Entertainment at KOSDAQ by a paid-in capital increase.[37] The Supreme Prosecutors' Office of the Republic of Korea also investigated Lee regarding circumstantial evidence of lobbying to producers in broadcasting stations and keeping a tremendous amount of cash in his personal office and vaults.[38]
Lee tried to escape prosecution by staying overseas from June 2002, and was found in a golf course in Los Angeles on 2 August in the same year.[39] While on the run, Lee's passport was nullified and Lee was chased by Interpol.[40] Lee eventually came back to Korea to be investigated on 22 May 2003.[41] A pre-arrest warrant was issued on 7 October,[42] and Lee was arrested on 8 October.[43] On 14 October, Lee was approved of bail after paying 30 million won. On 19 October, Lee was prosecuted without detention.[44]
In September 2004, the Supreme Court of Korea sentenced Lee to two years of imprisonment along with three years of probation.[45] Lee was released in a special exemption in 2007 commemorating the fourth year of Roh Moo-hyun's presidency.
Slave contract edit
In 2009, three members of the boy band TVXQ took their management agency SM Entertainment owned by Lee to court, claiming that the agency's 13-year-contract (often nicknamed a slave contract) was too long, too restrictive, and gave them almost none of the profits from their success.[46][47] The following year, in 2010, South Korea's Fair Trade Commission (KFTC) created a rule that limited entertainment contracts to seven years.[48]
Other controversies edit
In 2015, Lee Soo-man was alleged to have violated foreign exchange rules, having failed to report real estate purchased in Los Angeles, as mandated by the Foreign Exchange Law. His company responded that it was a "mistake" made by their American subsidiary.[49] In 2021, he was included in the names of figures in the Pandora Papers. He was mentioned 399 times across 280 documents, tying him to eight paper companies in Hong Kong, five of which used a nominee service to conceal the source of their funds. SM Entertainment denied the allegations and said the companies had been founded using his father's assets.[50] Lee and SM were investigated by the National Tax Service following suspicions that he had omitted financial information and leaked company money in corporate transactions. As a result, SM was ordered to pay the government 20.2 billion won.[51]
Discography edit
Albums edit
- Lee Soo-man (Jigu Records, 1977)
- Lee Soo-man (Shinsegae, 1978)
- 애창곡집 (Jigu Records, 1978)
- Greatest (Universal Record Co., 1980)
- Lee Soo-man (Shinsegae, 1983)
- Lee Soo-man (Han Kook Record, 1985)
- 끝이 없는 순간 (Asia Record Co., 1986)
- NEW AGE 2 (Han Kook Record, January 1989)
- NEW AGE (Asia Record Co., November 1989)
Awards edit
This is missing information about award ceremonies, categories, works, and proper citations. (January 2021) |
| Award ceremony | Year | Category | Nominee / work | Result | Ref. |
|---|---|---|---|---|---|
| Academic Conference by Business Released Society | Small but Strong Business Entrepreneur Award | Lee Soo-man | Won | ||
| Gaon Chart Music Awards | 2012 | K-Pop Contribution Award | Won | ||
| 2021 | K-Pop Contribution Award | Won | |||
| Golden Disc Awards | 2008 | Record Producer of the Year | Won | ||
| Korea-China Management Awards | 2018 | CEO Award | Won | [52] | |
| Korea Creative Content Agency | 2005 | Entertainment and Art Development Award | Won | [53] | |
| Korea Economic Daily | 2020 | Dasan Business Award | Won | [54] | |
| Korea Music Copyright Awards | 2011 | Best Record Producer | Won | ||
| Kotler Awards | 2017 | Best Marketer Award | Won | ||
| MBC Drama Awards | 1987 | Radio Excellence Award | Won | ||
| MBC Music Festival | 1976 | Top 10 Male Rookie of the Year | Won | ||
| 1977 | Top 10 Artist of Year | Won | |||
| SBS Gayo Daejeon | 1997 | Best Planner Award | Won | ||
| 1998 | Best Planner Award | Won | |||
| 2004 | Producer of the Year | Won | |||
| Seoul Cultural Arts Awards | 2011 | Best Popular Music Producer | Won | ||
| Seoul Music Awards | 1977 | Best Record Producer | Won | ||
| 1997 | Best Planner Award | Won | |||
| South-East Music Chart Awards | 2005 | The Best Overseas Producer Award | Won | ||
| Top Chinese Music The Annual Festival | 2016 | Best Producer of Asia Award | Won |
State and cultural honors edit
| Country or organization | Year | Honor | Ref. |
|---|---|---|---|
| Asia Society | 2016 | Asia Game Changer Award | [55] |
| Château Mouton Rothschild | 2009 | Commanderie de Bontemps | [56] |
| International Business Society | 2007 | Global Frontier Award | [57] |
| 2007 | Global CEO Award Winning Company Case Presentation and Awards | [57] | |
| Korea-EU Industrial Cooperation Day | 2011 | Korea-EU Cooperation Award | [58] |
| Korea Society Anniversary Gala | 2007 | Dinner Culture Award | |
| Proud Korean Awards | 2011 | National Prestige Award | [59] |
| Seoul International Forum | 2016 | Yeongsan Diplomat Award | [60] |
| South Korea | 2000 | Good Deed Artist Prime Minister Commendation Award | |
| 2002 | Korean Culture Content Exportation Awards in Music | ||
| 2003 | Korean Culture Content Exportation Awards in Music | ||
| 2011 | Eungwan Order of Cultural Merit (class 2nd) | [61] | |
| United States | 2005 | Certificate of Merit as Honorary Ambassador of Los Angeles | [62] |
Listicles edit
| Publisher | Year | Listicle | Placement | Ref. |
|---|---|---|---|---|
| Billboard | 2020 | Impact List | Placed | [63] |
| E Daily | 2016 | Cultural Leaders of the Year | Placed | [64] |
| Herald Business | 2011 | The Power Leader of Popular Culture | 1st | [65] |
| Insight Korea | 2018 | The Best CEO by College Students | 10th | [66] |
| Executives Contributing to the National Economic Development | 6th | [67] | ||
| Executives Showing Best Leadership | 4th | [68] | ||
| Money Today StarNews | 2007 | Cultural Industry Player in the Entertainment Business | 1st | [69] |
| Sisa Journal[a] | 2005 | Most Influential Person Moving the Entertainment Industry | Placed | [74] |
| Sound | 2011 | Korean Pop Music Power 100 | 1st | [75] |
| Variety | 2017 | Variety500 | Placed | [76] |
| 2018 | Placed | |||
| International Music Leader | 19th | [77] | ||
| 2019 | 11th | [78] | ||
| Variety500 | Placed | [76] | ||
| 2020 | Placed |
Notes edit
- ^ The Sisa Journal is one of the major weekly news magazines in Korea.[70] Established in 1989,[71] its annually conducted 'Who Moves Korea' survey determines the most influential figures in the country and highlights next-generation leaders of Korea.[72] The survey is conducted on a total of 1000 experts across 10 fields, including professors, journalists, politicians, businessmen, and cultural artists.[73]
References edit
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- ^ Hong, Grace Danbi (5 March 2013). . mwave.interest.me. Archived from the original on 5 May 2016. Retrieved 18 April 2016.
- ^ a b c d Waitt, Hannah (14 July 2014). . MoonROK. Archived from the original on 24 October 2018. Retrieved 18 April 2016.
- ^ 사월과오월 "우린 70년대 청년 삶의 일부였죠" [April and May: "We were a part of young people's lives in the 70s."]. Yonhap News Agency (in Korean). 29 November 2011. from the original on 30 May 2023. Retrieved 13 July 2023.
- ^ Lee, Pil-jae; Cho, Deuk-jin (1 December 2011). 올해의 인물 K–POP 챔프 이수만 [Person of the Year K-pop Champion Lee Soo-man]. Forbes Korea (in Korean). from the original on 30 May 2023. Retrieved 13 July 2023 – via Joins.
- ^ Yu, Jin-mo (19 July 2021). [그거 아니?]이수만, 양현석, 박진영, 그리고 방시혁① [[You know that?] Lee Soo-man, Yang Hyun-suk, Park Jin-young, and Bang Si-hyuk]. Hanryu Times (in Korean). from the original on 30 November 2021. Retrieved 13 July 2023.
- ^ Choi, Hee-jae (25 October 2020). 이수만·박진영·박재범·싸이·유빈, K팝 이끄는 가수 출신 [기획사 대표의 과거①] [Lee Soo-man, Park Jin-young, Park Jae-beom, Psy, and Yubin, former singers who lead K-pop [The past of the agency CEOs ①]]. Xports News (in Korean). from the original on 30 May 2023. Retrieved 13 July 2023 – via Nate.
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- ^ Keith Howard Korean pop music: riding the wave 2006– Page 95 "together in 1996 by Lee Soo Man, a graduate of Seoul National University and a product of the campus-led song movement. Lee surveyed teenage girls, then advertised for dancers who most closely fitted what the girls said they wanted."
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- ^ a b Yoon, So-yeon (12 July 2023). "SM Entertainment's Lee Soo-man to start new chapter in China". Korea JoongAng Daily. from the original on 20 July 2023. Retrieved 20 July 2023.
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- ^ Benjamin, Jeff (5 February 2020). "K-Pop Industry Legend Lee Soo-Man Works On Loona Album In First Project Away From Namesake SM Entertainment". Forbes. from the original on 15 March 2020. Retrieved 5 February 2020.
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- ^ Hong, Yoo (16 February 2023). "SM CEO Lee Sung-soo exposes SM founder Lee Soo-man". The Korea Herald. from the original on 31 May 2023. Retrieved 20 July 2023.
- ^ Yoon, So-yeon (16 February 2023). "SM Entertainment's co-CEO Lee Sung-soo slams founder Lee Soo-man in video". Korea JoongAng Daily. from the original on 22 May 2023. Retrieved 13 July 2023.
- ^ Jeong, Si-nae (16 February 2023). 처조카 SM 이성수 폭로…국세청, 이수만 '탈세 의혹' 확인 착수 [Exposed by his nephew-in-law, SM's Lee Sung-soo... National Tax Service looks into Lee Soo-man's suspected tax evasion]. JoongAng Ilbo (in Korean). from the original on 7 March 2023. Retrieved 20 July 2023 – via Naver.
- ^ Frater, Patrick (11 March 2023). "K-Pop: Hybe and Kakao End Hostilities in Takeover Battle for SM Entertainment". Variety. from the original on 12 March 2023. Retrieved 13 March 2023.
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- ^ Cho, Kwang-hyung (5 October 2014). [단독] 이수만 SM회장 부인, 암투병 중 사망 [[Exclusive] SM CEO Lee Soo-man's wife dies while fighting cancer]. NewDaily (in Korean). from the original on 4 January 2021. Retrieved 13 July 2023.
- ^ lastdance2 (7 September 2017), SNSD Funny Clip #5- When you thought that your teammate is just a small fry..., retrieved 10 February 2018
{{citation}}: CS1 maint: numeric names: authors list (link)[dead YouTube link] - ^ Jeong, Tae-ran (29 April 2014). [세월호 침몰] 이수만 · SM, 대한적십자사 10억 기부 [[Sewol ferry sinking] Lee Soo-man and SM donated 1 billion won to the Korean Red Cross]. Herald Pop (in Korean). from the original on 14 January 2021. Retrieved 13 July 2023 – via Naver.
- ^ Lee, Jae-hoon (27 September 2019). SM·이수만, '글로벌시티즌' 아시아유치···엑소·콜드플레이 [SM · Lee Soo-man, 'Global Citizen' to attract Asia... Exo · Coldplay]. Newsis (in Korean). from the original on 13 January 2021. Retrieved 13 July 2023 – via Naver.
- ^ Lee Deok-haeng (8 March 2022). 이수만·SM, 산불 피해 복구 성금 5억원 기부 [Lee Soo-man and SM donated 500 million won for forest fire damage recovery] (in Korean). MT Star News. from the original on 8 March 2022. Retrieved 8 March 2022 – via Naver.
- ^ Lee, Sang-rok (25 July 2002). "SM 3년 전 코스닥 등록 때 이수만씨 수백억 시세 차익" ["Lee Soo-man's tens of billions in capital gains when SM registered on KOSDAQ 3 years ago"]. The Dong-a Ilbo (in Korean). from the original on 20 July 2023. Retrieved 13 July 2023 – via Naver.
- ^ "이수만씨 비밀금고에 거액 보관" ["Lee Soo-man kept a large sum of money in his secret safe"]. Yonhap News Agency (in Korean). 18 August 2002. from the original on 20 July 2023. Retrieved 13 July 2023 – via Naver.
- ^ LA골프장에 나타난 이수만씨 [Lee Soo-man appeared on an LA golf course]. Yonhap News Agency (in Korean). 4 August 2002. from the original on 20 July 2023. Retrieved 13 July 2023 – via Naver.
- ^ Oh, Sang-heon (15 January 2003). 검찰, 이수만.서세원씨 '인터폴에 수배' [Prosecutors: Lee Soo-man and Seo Se-won 'wanted by Interpol']. Korea Economic Daily (in Korean). from the original on 13 March 2021. Retrieved 13 July 2023 – via Naver.
- ^ Park, Chang-wook (22 May 2003). 이수만씨 귀국, 검찰 조사 [Lee Soo-man's return to Korea, prosecution investigation]. Yonhap News Agency (in Korean). from the original on 21 July 2023. Retrieved 13 July 2023 – via Naver.
- ^ Lee, Sang-rok (8 October 2003). 서세원-이수만씨 사전 영장청구 [Seo Se-won and Lee Soo-man's preliminary warrant request]. The Dong-a Ilbo (in Korean). Retrieved 13 July 2023 – via Naver.
- ^ 이수만·서세원씨 등 오늘 구속 수감 [Lee Soo-man, Seo Se-won, etc. arrested today]. SBS (in Korean). 9 October 2003. from the original on 20 July 2023. Retrieved 13 July 2023 – via Naver.
- ^ Lee, Tae-hoon (19 October 2003). [연예]이수만씨 불구속 기소 [[Entertainment] Lee Soo-man indicted without detention]. The Dong-a Ilbo (in Korean). from the original on 20 July 2023. Retrieved 13 July 2023 – via Naver.
- ^ Lee, Kwang-cheol (3 September 2004). '자금횡령' 이수만씨 집행 유예 [Lee Soo-man's sentence for embezzlement of funds is suspended]. Yonhap News Agency (in Korean). from the original on 20 July 2023. Retrieved 13 July 2023 – via Naver.
- ^ Williamson, Lucy (15 June 2011). "The dark side of South Korean pop music". BBC News. from the original on 30 May 2018. Retrieved 19 June 2017.
- ^ Han, Sang-hee (11 August 2009). "Is There a Solution for Slave contracts?". Korea Times. from the original on 19 August 2017. Retrieved 19 June 2017.
- ^ Kim, Hyo-jin (3 December 2014). "K-pop stars punished by unfair contracts". Korea Times. from the original on 19 August 2017. Retrieved 19 June 2017.
- ^ Kim, Jae-won (13 January 2015). "Chaebol scions, SM chief and actress in W130 bil. illegal FX deals". The Korea Times. from the original on 20 July 2023. Retrieved 13 July 2023.
- ^ Hyun-su, Yim (4 October 2021). "Lee Soo-man named in leaked offshore data, S.M. Entertainment denies wrongdoing". The Korea Herald. from the original on 4 October 2021. Retrieved 4 October 2021.
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- ^ Seong, Jin-hee (28 June 2018). [SM's general producer Lee Soo-man wins CEO Award + NCT 127 'Asia Rising Star Award']. The Chosun Ilbo (in Korean). Archived from the original on 28 June 2018. Retrieved 13 July 2023.
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- ^ "2016 Asia Game Changer Awards". Asia Society. from the original on 5 December 2020. Retrieved 15 January 2021.
- ^ SM 이수만 회장, 샤또 무똥 로칠드서 기사작위 받아 [SM Chairman Lee Soo-man received a knighthood at Chateau Mouton Rothschild]. The Chosun Ilbo (in Korean). 25 June 2009. from the original on 13 May 2023. Retrieved 13 July 2023.
- ^ a b Kim, Myung-shin (20 October 2007). "SM 이수만 회장, 국제경영학회 주최 글로벌 프론티어상 수상" [SM Chairman Lee Soo-man received the Global Frontier Award from the International Business Association]. Korea Economic Daily (in Korean). from the original on 20 July 2023. Retrieved 13 July 2023.
- ^ Ahn, Jae-man (18 November 2011). 한·EU 산업협력의 날 22일 개최..이수만 회장 등 수상 [Korea-EU Industrial Cooperation Day will be Held on the 22nd, To be Attended by Chairman Lee Soo-man and Others]. Edaily (in Korean). from the original on 18 February 2021. Retrieved 18 February 2021.
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External links edit
- SM Entertainment – Official website