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.
Biography
1952–1980: early years and singing career
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 for 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 [ko].[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 [ko] 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
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
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
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
Lee's wife, Kim Eun-jin, died from cancer on 30 September 2014.[32]
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
Embezzlement case and conviction
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
In 2009, three members of the boy bandTVXQ 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
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]
This is missing information about award ceremonies, categories, works, and proper citations. Please expand the to include this information. Further details may exist on the talk page.(January 2021)
The name of the award ceremony, year presented, award category, nominee(s) of the award, and the result of the award
^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]
^Jeon, A-ram (7 December 2017). 'SM 수장' 이수만, 2017 코틀러 어워드 '최고경영자상' 수상 ['SM Chief' Lee Soo-man wins the 2017 Kotler Awards 'CEO Award']. Xports News (in Korean). Archived from the original on 31 January 2023. Retrieved 24 October 2018 – via Naver.
^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. Archived 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). Archived 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). Archived 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). Archived from the original on 30 May 2023. Retrieved 13 July 2023 – via Nate.
^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."
^Lee, Tae-soo (10 February 2023). 하이브, 이수만 손잡고 SM 인수…K팝 공룡 기획사 탄생(종합2보) [Hybe and Lee Soo-man join hands to take over SM… The birth of a K-pop dinosaur agency (2 reports)]. Yonhap News Agency (in Korean). Archived from the original on 20 July 2023. Retrieved 20 July 2023 – via Naver.
^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). Archived from the original on 7 March 2023. Retrieved 20 July 2023 – via Naver.
^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). Archived from the original on 4 January 2021. Retrieved 13 July 2023.
^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). Archived 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). Archived 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. Archived 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). Archived 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. Archived 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. Archived 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). Archived 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). Archived 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. Archived 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). Archived 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). Archived from the original on 20 July 2023. Retrieved 13 July 2023 – via Naver.
^"한국콘텐츠진흥원". www.kocca.kr (in Korean). Archived from the original on 31 October 2020. Retrieved 15 January 2021.
^Yoo, Jae-hyeok (8 December 2020). 이수만, 'K팝 산업' 토대 닦은 문화대통령…'엔터제국' 꿈꿔 [Lee Soo-man, the cultural president who laid the foundation for the 'K-pop industry'... Dream of an 'entertainment empire']. Korea Economic Daily (in Korean). Archived from the original on 12 March 2021. Retrieved 13 July 2023 – via Naver.
^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. Archived from the original on 13 May 2023. Retrieved 13 July 2023.
^ abKim, 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). Archived 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). Archived from the original on 18 February 2021. Retrieved 18 February 2021.
^Hong, Ji-young (8 December 2011). 조양호 위원장, 자랑스런 한국인 최고 대상 [Cho Yang-ho, Chairman of the Committee, Proud of Korea's Top Prize Winners]. SBS News (in Korean). Archived from the original on 18 February 2021. Retrieved 18 February 2021.
^Jung, Yu-na (21 July 2017). SM 이수만, 문화인사 최초 '2016 영산외교인상' 수상 [SM's Lee Soo-man Wins '2016 Yeongsan Diplomat Award 2016' for the First Time Among Cultural Figures]. Sports Chosun (in Korean). Chosun Ilbo. Archived from the original on 18 February 2021. Retrieved 18 February 2021.
^Jung, Chun-ki (8 November 2011). 신영균.이수만.하춘화씨 은관문화훈장 [Shin Young-kyun, Lee Soo-man, and Ha Chun-hwa, Silver Crown Order of Cultural Merit]. Yonhap News (in Korean). Archived from the original on 18 February 2021. Retrieved 18 February 2021.
^SM 이수만, LA 시장으로부터 공로패 받아 [SM's Lee Soo-man, Takes Credit from the Mayor of Los Angeles]. Jeonbuk Ilbo (in Korean). 18 June 2005. Archived from the original on 18 February 2021. Retrieved 18 February 2021.
^Kim, Yong-woon (7 October 2016). [2016문화파워] 올해 최고의 문화리더 '소설가 한강' [Han Kang, The Best Cultural Leader of the Year]. EDAILY (in Korean). Archived from the original on 15 January 2021. Retrieved 15 January 2021.
^Lee, Hyung-suk (26 December 2011). <굿바이 2011> 2011 대중문화 파워리더...'K팝 지휘자' 이수만 첫 1위 등극 [<Goodbye 2011> 2011 The Power Leader of Popular Culture, K-Pop Conductor Lee Soo-man's First Number One Spot]. Herald Business (in Korean). Archived from the original on 15 January 2021. Retrieved 15 January 2021.
^Lee, Il-ho (2 October 2018). 대학생이 뽑은 최고의 CEO는 '갓뚜기' 함영준 [The Best CEO by College Students is Ham Young-joon]. Insight Korea (in Korean). Archived from the original on 15 October 2018. Retrieved 15 January 2021.
^Cho, Hye-seung (2 October 2018). 이재용, '국가 경제발전 기여 경영인' 2년 연속 1위 [Lee Jae-yong Topped the List for the Second Consecutive Year of 'Executives Contributing to the National Economic Development']. Insight Korea (in Korean). Archived from the original on 15 October 2018. Retrieved 15 January 2021.
^Lee, Kyung-won (2 October 2015). 리더십 가장 잘 발휘하는 CEO 1위 구광모 LG 회장 [LG Chairman Koo Kwang-mo, The Number One Executive Showing Best Leadership]. Insight Korea (in Korean). Archived from the original on 15 October 2018. Retrieved 15 January 2021.
^Seo, Jung-min (22 January 2013). 문화산업 1인자 이수만에 대한 기록, 이수만 평전 [Records of Lee Soo-man, The Number One in the Cultural Industry, The Critical Biography Lee Soo-man]. Media Today (in Korean). Archived from the original on 26 January 2013. Retrieved 15 January 2021.
^Kim, Ha-jin (31 October 2013). 임형주, '한국을 이끌 차세대리더 100인' 선정 [Lim Hyung-Ju, '100 Next Generation Leaders to Lead Korea' selected] (in Korean). Archived from the original on 1 November 2013. Retrieved 22 August 2019.
^Yeom, Kang-soo (18 August 2009). "누가 한국을 움직이나?" 시사저널 조사 ["Who is moving Korea?" Current Journal Survey]. The Chosun Ilbo (in Korean). Archived from the original on 17 April 2015. Retrieved 22 August 2019.
^Kim, Hyo-sil (1 September 2014). '한겨레', 신뢰도와 열독률 모두 '1위' 언론 ['Hankyoreh', '1st place' in both reliability and reading]. The Hankyoreh (in Korean). Archived from the original on 20 August 2019. Retrieved 22 August 2019.
^Ko, Jae-yeol (15 July 2005). 누가 연예 산업을 움직 이는가 [Most Influential Person Moving the Entertainment Industry]. Sisa Journal (in Korean). Archived from the original on 14 January 2021. Retrieved 14 January 2021.
^Lee, Eun-jung (16 March 2011). 이수만, '한국 대중음악 파워 100' 1위 [Lee Soo-man Tops 'Korean Pop Music Power 100']. Yonhap News (in Korean). Archived from the original on 15 January 2021. Retrieved 15 January 2021.
