Umi Group Founder Kwangrae Lee Passes Away

by Choi Seoyoon

Pubilshed 10 Jul.2025 13:06(KST)

Founder of Umi Group, the late Chairman Kwangrae Lee. Provided by Umi Group

Kwangrae Lee, the founder of Umi Group, passed away on July 9 at the age of 93.

The late Chairman Lee, who was born in Gangjin, Jeonnam, enlisted in the military as an enlisted soldier in 1955. He served as a finance officer for 18 years and was discharged as a major in 1973.

He entered the construction industry in 1982 by establishing Samjin Development Co., Ltd., the predecessor of Umi Group, and was appointed chairman of Umi in March 1992. He grew the company into a mid-sized construction firm by expanding its housing business in major cities nationwide, including the Seoul metropolitan area.

Based on his philosophy of "building homes with heart," he emphasized to executives and employees that they should approach their work not as contractors building houses for profit, but with the mindset of a head of household building their own home. He adhered to management by integrity and principles, never delaying payments to partner companies. He received a total of five awards for faithful tax payment, including the Presidential Citation for Faithful Tax Payment in 2005.

In 2006, he established the Geumpa Foundation (now Umi Hope Foundation) and engaged in social contribution activities. In 2019, he was awarded the Order of Industrial Service Merit, Gold Tower, for his contributions to the development of the construction industry.

The funeral is being held in Room 3 on the second floor of the funeral hall at Bundang Seoul National University Hospital. He is survived by his eldest son, Seokjun (Vice Chairman of Umi Global), as well as Seokil and Hyeyoung (Head of Architectural Design at Umi Construction). The funeral procession will take place at 5 a.m. on July 12. The burial site is the family grave in Chunjun-ri, Gangjin-eup, Gangjin-gun, Jeonnam, his hometown.