Net Worth: Under Review
- Source of Wealth Samsung
- Birth Place Uiryeong County, South Korea
- Full Name Lee Byung-chul
- Nationality South Korea
- Date of Birth February 12, 1910
- Ethnicity Korean
- Occupation Businessman
- Education Waseda University
- Children 3 (Lee Kun-hee, Lee Myung-Hee, Lee Maeng-hee)
About Lee Byung Chul
Lee Byung Chul was a Korean businessman best recognized as Samsung Group’s founder. He was considered one of the most successful businessmen in South Korea. Today, Samsung Group is the largest business group in South Korea. Samsung actually means “three stars” which are seen in the company’s corporate logo.
Lee Byung Chul was born on February 12, 1910 in Uiryeong, Gyeongsangnam-do, South Korea. Born to a wealthy family, he attended Waseda University, but never completed a degree. When his father died, he started a rice mill business which was funded by his inheritance. In 1938, he began a trading business called Samsung Trading Co.
Eventually, Samsung became involved in transporting goods in Korea and other countries. Through time, it became one of the largest “trading companies” in Seoul. In 1953, Chul launched Cheil Sugar which is now known as CJ CheilJedang. Cheil Sugar became very successful, so he used its income in founding other companies in diverse industries such as consumer electronics, cars, insurance, textile and department stores.
Later on, he chaired the Federation of Korean Industries. He also became Korea’s richest man. On November 19, 1987 in Seoul, South Korea, Lee Byung Chul died, age 77.