Lee Kyung-hoo, Eldest Daughter of Lee Jae-hyun, Chairman of CJ Group, Promoted to Vice President of CJ ENM

(Left) Lee Jae-hyun, Chairman of CJ Group, Lee Kyung-hoo, newly appointed Vice President.

[Asia Economy Reporter Lee Seon-ae] CJ Group announced its regular executive appointments for 2021 on the 10th, promoting a total of 78 executives. The effective date of the appointments is the 14th.

On this day, CJ Group promoted Lee Kyung-hoo, Managing Director of CJ ENM, to the position of Vice President. The newly appointed Vice President Lee Kyung-hoo is the eldest daughter of CJ Group Chairman Lee Jae-hyun.

She graduated from Columbia University in the United States with a degree in French Literature and completed a master's degree in Culinary Psychology at the same university. She joined CJ Group in 2011 as an assistant manager in the business team. She then worked in product planning at CJ O Shopping, served as head of integrated marketing at the U.S. regional headquarters, and was promoted to Managing Director in 2017. In July 2018, she was appointed head of the brand division at the newly established CJ ENM, formed by the merger of CJ O Shopping and CJ E&M. She moved to the U.S. regional headquarters and directly participated in establishing marketing strategies for the group’s North American business, leading the successful U.S. market entry of brands such as KCON and Bibigo. Internally, it is expected that the new Vice President Lee will continue to lead the group’s media business, similar to her aunt, Vice Chairman Lee Mi-kyung.

Meanwhile, at the end of last year, Chairman Lee gifted 1,841,336 newly issued CJ preferred shares he owned equally to Managing Director Lee and his son, Lee Seon-ho, Manager at CJ CheilJedang, with each receiving 920,668 shares. The newly issued preferred shares do not have voting rights but receive higher cash dividends than common shares and can be converted into common shares after a certain period. Since they lack immediate voting rights, they are traded at a lower price than common shares, which reduces gift tax while allowing long-term expansion of common shareholding, making them a tool for succession of ownership. The shares gifted by Chairman Lee were preferred shares acquired through a dividend of 0.15 shares per common share implemented by CJ on March 27 last year and will be converted into common shares in 2029, ten years later.

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