"No Country Without Culture"‥Imi-kyung Invests Following Grandfather's Words

Late CJ Honorary Chairman Lee Maeng-hee Emphasizes Diverse Cultural Consumption
Felt Korea's Cultural Strength Listening to Seo Taiji's Music
Learned Content-Infrastructure Link from DreamWorks Investment
"Multiplex Theaters Will Change Faster Due to COVID-19"

[Asia Economy New York=Correspondent Baek Jong-min] "My grandfather always said that without culture, there is no country."

Lee Mi-kyung, Vice Chairman of CJ Group (photo), revealed that the influence of her grandfather and father played a significant role in her decision to invest in the cultural industry. Her grandfather was the late Lee Byung-chul, founder of Samsung Group, and her father was the late Lee Maeng-hee, Honorary Chairman of CJ Group.

Lee Mi-kyung, Vice Chairman of CJ Group

In a recent interview regarding her lifetime achievement award from the Korean American Committee in the Americas, Vice Chairman Lee shared the reasons for investing in the cultural industry, her future management outlook, and advice based on her experiences.

In the interview conducted online due to concerns over the novel coronavirus (COVID-19), Lee emphasized that her grandfather and father were the roots of her interest in the cultural industry. When asked about the decisive conversation or experience that led her to enter the media business, she quoted Chairman Lee Byung-chul’s words, "No culture, no country," adding that "food is also culture." She stressed that the food business is inseparable from culture.

She continued, "My father, who studied in Japan and the United States, emphasized diverse cultural consumption." Vice Chairman Lee recalled that in her childhood, her father’s study contained classical and pop music as well as records from various countries and genres. She also mentioned that her father’s car had 8-track tapes of pop singers like the Bee Gees and Harry Belafonte.

Lee said, "In the 1980s, large record stores in the U.S. were places where parents and children would come together to buy records and pass down their favorite music. My father did the same."

She also introduced that when she invested in the American film company DreamWorks, her younger brother, Lee Jae-hyun, Chairman of CJ Group, said, "We are not investing to make money. It is to build Korea’s cultural industry."

Vice Chairman Lee detailed her experience of being amazed by the excellence of Korean culture after moving to the U.S. While enjoying pop music from George Michael, Boy George, Duran Duran, Michael Jackson, and Madonna, a friend gifted her albums by Lee Seung-chul, Shin Seung-hun, and Seo Taiji. After listening to Seo Taiji’s music, she thought it was the best and said, "I realized that Koreans can create the best music." She also mentioned that after watching the film Parasite for the first time, she was convinced it would succeed because it dealt with universal themes worldwide.

Lee said she learned the importance of linking content and infrastructure through the DreamWorks investment. By securing music broadcasting channel Mnet and multiplex cinema CGV and filling them with Korean content, Korea naturally became a powerhouse in cultural content. She proudly noted that Mnet surpassed the American music channel MTV in Korea.

She emphasized that due to the COVID-19 crisis, CJ Group’s cultural business must actively respond to upcoming changes. While CJ Group’s food and logistics businesses are performing well, she acknowledged that theaters and media businesses are struggling.

Lee said, "A crisis is an opportunity. The theater business was already in crisis, and innovations like IMAX and 4DX were introduced. The COVID-19 situation will likely accelerate these changes."

She also offered advice based on her 30 years of success in Hollywood, saying, "Koreans active in the American cultural industry need to unite and cooperate."

This content was produced with the assistance of AI translation services.