Cash Donations of 100 Million Won Each to Hometown Residents and Alumni... Booyoung's Lee Joong-geun's 'Generous Giving'

Chairman Lee Jung-geun Donates 140 Billion Won in Cash
Including In-Kind Contributions, Total Reaches 240 Billion Won

Lee Joong-geun, chairman of Booyoung Group (82), handed out up to 100 million won in cash per person to hundreds of residents of his hometown, Unpyeong-ri village in Suncheon, Jeonnam, as well as his elementary, middle, and high school classmates.

According to residents of Unpyeong-ri village on the 27th, Chairman Lee deposited between 26 million won and up to 100 million won into the personal bank accounts of about 280 residents from six villages in Unpyeong-ri from last month to this month. The encouragement money was reportedly paid in five different amounts depending on the length of residence in the village.

Chairman Lee Joong-geun of Booyoung Group. [Image source=Asia Economy DB]

Earlier, Chairman Lee also gave cash to about 80 of his elementary, middle, and high school classmates. Born in a farming household in Jukdong village, Unpyeong-ri, he graduated from Seomyeon Dongsan Elementary School and Suncheon Middle School. He gave 100 million won each to about 80 classmates from Dongsan Elementary (Class of 25) and Suncheon Middle (Class of 15), and 50 million won each to classmates from Suncheon High School (Class of 8).

Chairman Lee’s side reportedly asked for account numbers and informed the recipients of the payment intention. It is understood that taxes from the large gifts were deducted before the money was delivered.

A resident of Unpyeong-ri said, "Last year, Booyoung checked the status of residents living in the village," adding, "Although the chairman left his hometown a long time ago, I understand that he gave money as a token of gratitude for the residents who have protected the hometown."

In addition to the village residents, Chairman Lee is said to have also given encouragement money to military comrades, relatives, and acquaintances in difficult circumstances. It is understood that the total cash donations he has personally made so far amount to about 140 billion won. Including donated items such as gift sets, tool sets, and history books, the total is known to be around 240 billion won.

Meanwhile, Booyoung Group, led by Chairman Lee, is engaged in various social contribution activities. On the 1st, to mark the 70th anniversary of the Korean War armistice, the group donated 10 billion won to the Air Force Sky Love Scholarship Foundation. The Sky Love Scholarship Foundation was established in 2010 to support the children of Air Force pilots who died in training.

A former Air Force member, Chairman Lee has continued steady donations to the Air Force with the mindset of "repaying the cost of meals," as he was provided two meals per meal during his five and a half years of military service.

In 2015, he supported the construction costs of a memorial monument at the War Memorial of Korea in Yongsan, Seoul, to express gratitude to the international veterans who risked their lives to help during the Korean War.

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