Lee Myung bak

Lee Myung-bak (; ; ; born 19 December 1941) is a South Korean businessman and politician who served as the 10th president of South Korea from 2008 to 2013. Before his presidency, he was the CEO of Hyundai Engineering and Construction, and the mayor of Seoul from 2002 to 2006.

He is married to Kim Yoon-ok and has three daughters and one son. His older brother, Lee Sang-deuk, is a South Korean politician. He is a Christian attending Somang Presbyterian Church. Lee is a graduate of Korea University and received an honorary degree from Paris Diderot University in 2011.

Lee altered the South Korean government's approach to North Korea, preferring a more hardline strategy in the wake of increased provocation from the North, though he was supportive of regional dialogue with Russia, China and Japan. Under Lee, South Korea increased its visibility and influence in the global scene, resulting in the hosting of the 2010 G-20 Seoul summit. However, significant controversy remains in Korea regarding high-profile government initiatives which have caused some factions to engage in civil opposition and protest against the incumbent government and President Lee's Saenuri Party (formerly the Grand National Party). The reformist faction within the Saenuri Party was at odds against Lee. He ended his five-year term on 24 February 2013, and was succeeded by Park Geun-hye.

On 22 March 2018, Lee was arrested on charges of bribery, embezzlement, and tax evasion alleged to have occurred during his presidency. Prosecutors accused Lee of receiving bribes totaling 11 billion won and channeling assets of 35 billion won to an illicit slush fund. Shortly before his arrest, Lee posted a handwritten statement on Facebook denying the charges. Lee's arrest occurred roughly a year after the arrest of former president Park Geun-Hye, who was arrested on charges stemming from the 2016 South Korean political scandal. Lee was convicted on 5 October 2018 and sentenced to 15 years in prison. On 29 October 2020, the Korean Supreme Court upheld a 17-year sentence against Lee given to him by an appellate court. On 27 December 2022, President Yoon Suk-yeol granted Lee a special pardon, cancelling the remaining 15 years of jail.

Early life and education

Lee Myung-bak was born 19 December 1941, in Osaka, Japan. His parents had emigrated to Japan in 1929, nineteen years after the Japanese annexation of Korea. Lee's father, Lee Chung-u (이충우; 李忠雨), was employed as a farm labourer in rural Japan, and his mother, Chae Taewon (채태원; 蔡太元), was a housewife. He was the fifth of seven children.

In 1945, after the end of World War II, his family returned to his father's hometown of Pohang, in Gyeongsangbuk-do, which was then an American-occupied portion of the Korean Peninsula.Lee Myung-bak overcomes poverty and challenges to demonstrate CEO style leadership.
By Kim Yongwhan, Kyunghyang Times

Lee's sister, Lee Ki-sun, believed that they People smuggling, smuggled themselves into the country to avoid having the officials confiscate the property they acquired in Japan. However, their ship was wrecked off the coast of Tsushima island. They lost all their belongings and barely survived. Lee personally witnessed the deaths of his older sister and a younger brother, who were killed in the bombardment of Pohang, during the Korean War.

Lee attended night school at Dongji Commercial High School in Pohang and received a scholarship. A year after graduation, Lee gained admission to Korea University. In 1964, during his third year in college, Lee was elected president of the student council. That year, Lee participated in student demonstrations against President Park Chung-hee's Seoul-Tokyo Talks, taking issue with Japanese restitution for the colonization of the Korean Peninsula. He was charged with plotting insurrection and was sentenced to five years' probation and three years' imprisonment by the Supreme Court of Korea. He served a little under three months of his sentence at the Seodaemun Prison in Seoul.

In his autobiography, Lee wrote that he was discharged from Korea's mandatory military service due to a diagnosis of acute bronchiectasis while at the Nonsan Training Facility.

Business career

In 1965, Lee started work at Hyundai Construction, the company which was awarded Korea's first-ever overseas construction project, a $5.2 million contract to build the Pattani-Narathiwat Highway in Thailand. Shortly after he was hired by the company, Lee was sent to Thailand to participate in the project, which was successfully completed in March 1968. Lee returned to Korea and was subsequently given charge of Hyundai's heavy machinery plant in Seoul.Robert Koehler (March 2008). Korea's CEO President Lee Myung-bak, Seoul Selection.

It was during his three decades with the Hyundai Group that Lee earned the nickname "Raging Bulldozer". On one occasion, he completely dismantled a malfunctioning bulldozer to study its mechanics and figure out how to repair it, only to run it over with another bulldozer that was often operated by Lee himself.

Lee became a company director at the age of 29, five years after he joined the company. He later became the CEO at age 35, becoming Korea's youngest CEO in history. In 1988, he was named chairman of Hyundai Construction at the age of 47.

When he began work at Hyundai in 1965, the company had 90 employees; when he left as chairman 27 years later, it had more than 160,000. Soon after the successful completion of the Pattani-Narathiwat Highway by Hyundai Construction, Korea's construction industry began to focus its efforts on encouraging the creation of new markets in countries such as Vietnam and the Middle East. Following the decline of construction demands from Vietnam in the 1960s, Hyundai Construction turned its focus toward the Middle East. The company continued to be a major player in construction projects with the successful completion of international projects including the Arab Shipbuilding & Repair Yard, the Diplomatic Hotel in Bahrain, and the Jubail Industrial Harbor Projects in Saudi Arabia, also known as "the great history of the 20th century". At that time, the amount of orders received by the Korean construction company exceeded US$10 billion, which contributed to overcoming the national crisis resulting from the oil shock.

He left Hyundai after a 27-year career and decided to enter politics.

Early political career

In 1992, Lee made the transition from business to politics. He joined the Democratic Liberal Party instead of the Unification National Party, founded by Chung Ju-yung. He was elected as a member of the 14th Korean National Assembly (for Proportional representation). Upon his election, he stated that he ran for the office because "after watching Mikhail Gorbachev change the world, I wanted to see if I could do the same." In 1995, he ran for the city of Seoul's mayoral election, but viciously lost to former prime minister Chung Won-sik during the primary of the Democratic Liberal Party.

In 1996, Lee was reelected as a member of the Korean National Assembly, representing Jongno-gu in Seoul. At the election, one of his opponents was future president Roh Moo-hyun, who was ranked third place.

In 1999, Lee was a visiting scholar at the George Washington University, in Washington, DC.

After he became a second-term lawmaker, his former secretary Kim Yoo-chan disclosed that Lee had spent excessively in his election campaign, often at the expense of taxpayers outside of his district. After receiving US$18,000 from Lee, Kim wrote a letter reversing his disclosure and fled to Tajikistan. Lee resigned in 1998 before being fined US$6.5 million for breaking election law and forcing Kim to flee. In the by-election held after his resignation, Roh Moo-hyun was elected as his successor.

Mayor of Seoul

In 2002, Lee ran for mayor of Seoul and won. As the Mayor of Seoul, Lee's most noteworthy projects included the restoration of the Cheonggyecheon stream, the creation of Seoul Forest, the opening of Seoul Forest Park, the construction of a grassy field in front of Seoul City Hall, and the addition of rapid transit buses to the city's transportation system. Lee worked to transform the area around Seoul City Hall from a concrete traffic circle to a lawn where people could gather. The 2002 FIFA World Cup showed how the area could be used as a homogeneous cultural space, which came to be known as Seoul Plaza. In May 2004, the tape was cut to open a newly built park in the area, a grassy field where Seoul residents could come to relax and take in cultural performances. A major accomplishment during his term as mayor of Seoul was the restoration of Cheonggyecheon, which now flows through the heart of Seoul and functions as a modern public recreation space for people of all ages.

2007 presidential election

On 10 May 2007, Lee officially declared his intention to seek the nomination of the Grand National Party (GNP) as its presidential candidate. On 20 August 2007, he defeated Park Geun-hye in the GNP's primary to become the party's nominee for the 2007 Presidential election. During the primary, Lee was accused of profiting from illegal speculation on land owned in Dogok-dong, an expensive neighborhood in Seoul. However, in August 2007, the prosecutors said in the interim announcement, "We do suspect Lee's brother's claim over the land in Dogok-dong, but have failed to verify the real owner of the asset." On 28 September 2007, the prosecutory authority officially dropped the suspicion that the Dogok land was under a borrowed name, announcing, "We have done all necessary investigations, including tracing the proceeds from the sale of the land and call history, and now got to the bottom of this case." In December 2007, a few days before the presidential election, Lee announced that he would donate all of his assets to society.

Lee's stated goals were expressed in the " 747 Plan" and included: 7% annual growth in gross domestic product (GDP), US$40,000 per capita, and transforming Korea into the world's seventh largest economy. An important part of his platform was the Grand Korean Waterway (한반도 대운하) project from Busan to Seoul, which he believed would lead to an economic revival. His political opponents criticized the project, saying it was unrealistic and too costly to be realized. Others were concerned about possible negative environmental impact.

Signaling a departure from his previous views on North Korea, Lee announced a plan to "engage" North Korea through investment. He promised to form a consultative body with the North to discuss furthering economic ties. The body would have subcommittees on the economy, education, finance, infrastructure and welfare, and a cooperation fund of $40 billion. He promised to seek a Korean Economic Community agreement to establish the legal and systemic framework for any projects emerging from the negotiations, and called for the formation of an aid office in North Korea as a way of decoupling humanitarian aid from nuclear talks.

His foreign policy initiative was called MB Doctrine, which advocates "engaging" North Korea and strengthening the US-Korean alliance.

BBK scandal

During the 2007 presidential election, questions about his relationship with a company called BBK were raised. In 1999, Lee was alleged to have met an American and established the LKE Bank with him. However, this enterprise went bankrupt less than a year later. The corrupt Korean prosecutors manipulated BBK case so that Lee was found not to be guilty. However, in 2018 Lee was arrested for charges related to BBK. Although, the prosecutor claimed in 2007 that Lee had nothing to do with DAS, a corporation that funded BBK, in 2018 the same prosecution office found that DAS is owned and controlled by Lee.

Presidency (2008–13)

In spite of the lowest voter turnout ever for a presidential election in South Korea, Lee won the presidential election in December 2007 with 48.7% of the vote which was considered a landslide.Angus Reid page on South Korea

He finished with a nearly 2-to-1 margin over his nearest challenger, Chung Dong-young of the Grand Unified Democratic New Party. To date, it is the largest margin of victory since the resumption of direct presidential elections in 1987. He took the oath of office on 25 February 2008, vowing to revitalize the economy, strengthen relations with the United States and "deal with" North Korea. Specifically, Lee declared that he would pursue a campaign of "global diplomacy" and seek further cooperative exchanges with regional neighbors Japan, China, and Russia. He further pledged to strengthen South Korea–United States relations and implement a tougher policy with regard to North Korea, ideas that are promoted as the MB Doctrine.

Lee stated that he wanted to restore better relations with the United States through a greater emphasis on free market solutions.

Two months after his inauguration, Lee's approval ratings stood at 28%, and by June 2008 they had reached 17%. U.S. President George W. Bush and Lee also discussed the ratification of the South Korea–United States Free Trade Agreement or KORUS FTA, which faced opposition from legislators in both countries. While Lee's agreement during the summit to partially lift the ban on US beef imports was expected to remove the obstacles in approving the KORUS FTA in the US, many Koreans protested the resumption of U.S. beef imports.

As protests escalated, the Korean government issued a statement warning that violent protesters would be punished, and measures would be taken to stop clashes between police and protesters. The protests continued for more than two months, and the original purpose of the candlelight vigils against U.S. beef imports was replaced by others, such as opposition to the privatization of public companies, education policy, and construction of the canal. The damages caused by protesters to the businesses around the demonstration and the social cost reached approximately 3,751,300,000,000 South Korean won.

According to The Wall Street Journal, Lee's plan to privatize public companies was a modest but "perhaps important step" toward reform.

As the government gained more stability, the approval rating of Lee's administration rose to 32.8%. Since the resumption of U.S. beef imports, more people are buying U.S. beef and now it has the second largest market share in Korea, after Australian beef.

Lee's approval ratings reflected public perception of Korea's economic situation in the wake of the global economic meltdown. Signs of a strengthening economy and a landmark $40 billion deal won by a Korean consortium to build nuclear power plants in the
United Arab Emirates boosted Lee's popularity. His approval rating in January 2010 stood at 51.6%.

Former president Kim Young-sam expressed negative outlooks on Lee's role as the president and his influence between South Korea and Japan according to a WikiLeaks file. As of late 2011, Lee's administration had a series of corruption allegations surrounding certain high-ranking government employees.

Education policy

The Lee administration introduced a tailor-made educational system and established the National Scholarship Foundation, which offers services such as student loans and loan counseling. In addition, the government promoted an income contingency pay-later plan to help out those struggling to pay tuition fees.

Teachers were highly critical of these changes, arguing that Lee wanted to turn Korean education into a "free market," while ignoring the underfunding of education in regions outside the Seoul area. However, the government designated 82 well-performing high schools in rural areas as "public
boarding school" and granted funds amounting to 317 billion won in total, with 3.8 billion won each on average.

The Lee government planned to use a pool of young Korean Americans for the promotion of after-school English education in public schools in rural areas, with the aim to improve the quality of education. Prior to assuming the presidency, Lee's transition team announced it would implement a nationwide English-immersion program to provide students with the language tools necessary to be successful in a highly globalized world. Under this program, all classes would have been taught in English by 2010. However, Lee abandoned the program after facing strong opposition from parents, teachers, and education specialists. He then attempted to implement a program where all English courses in middle and secondary schools would be taught in English only, which would require the government to educate many teachers in Korea and recruit university students studying abroad in English-speaking countries.

Economic policy

"Mbnomics" is the term applied to Lee's macroeconomic policy. The term is a portmanteau

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