Chairman Lee Joong-geun of Booyoung Shares 100 Million Won Each with Hometown Residents and Elementary School Classmates

On June, 100 Million KRW Delivered to Each Person Who Missed Sharing

Lee Joong-geun, chairman of Booyoung Group, distributed hundreds of billions of won to people from his hometown in Suncheon, Jeollanam-do, and also gave large sums to his alumni.

According to Booyoung on the 15th, since last month, Chairman Lee has personally deposited 100 million won each into the personal bank accounts of 10 alumni from his alma mater, Dongsan Elementary School.

Photo by Jinhyung Kang aymsdream@

In June, he gave 100 million won each to about 280 residents of Unpyeong-ri, Suncheon City, his hometown, and 50 million won each to about 80 elementary, middle, and high school alumni, and this is an additional distribution. This sharing was reportedly carried out additionally after learning that some elementary school alumni were omitted in the previous distribution.

Taxes due to the large gift were also deducted.

In the previous June distribution, it was reported that village residents received between 26 million won and 90.2 million won after tax deductions. The amounts were paid differentially in five stages according to the length of residence in the village.

At that time, Chairman Lee met with 12 representatives from six villages in Unpyeong-ri and expressed his gratitude, saying, "I want to show my appreciation for protecting my hometown where I spent a difficult childhood." This was done personally without informing the company.

Chairman Lee was born into a poor farming family in Jukdong Village, Unpyeong-ri, attended Dongsan Elementary School in Seomyeon, and Suncheon Middle and High Schools. Later, he earned a master's and doctoral degree in public administration from the Graduate School of Policy at Korea University in Seoul. He founded Booyoung in 1983. With unwavering love for his hometown over time, he established Booyoung Elementary School in Suncheon in 1991.

Recently, he was sentenced to 2 years and 6 months in prison in August 2020 for embezzlement and breach of trust involving hundreds of billions of won, and was paroled on Liberation Day the following year. On the 14th, a day before Liberation Day, he received a special presidential pardon.

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