Lee Myung-bak: From Corporate CEO to President of South Korea
Lee Myung-bak, often referred to by his initials MB, is a prominent South Korean politician and former business executive who served as the 10th president of South Korea from 2008 to 2013. His trajectory is unique in Korean history, moving from the heights of corporate leadership to the mayoralty of the capital city, and eventually to the Blue House.
Key Facts
- Presidency: Served as the 10th President of South Korea (2008–2013).
- Corporate Background: Former CEO of Hyundai Engineering and Construction; youngest CEO in Korean history at age 35.
- Civic Leadership: Served as the 32nd Mayor of Seoul from 2002 to 2006.
- Legal History: Convicted of bribery and embezzlement; later granted a special pardon in December 2022.
- Political Affiliation: Associated with the Grand National Party and Saenuri Party.
Early Life and Corporate Ascent
Born on December 19, 1941, in Osaka, Japan, Lee Myung-bak pursued his higher education at Korea University, where he earned a Bachelor of Business Administration (BBA). His professional life began at Hyundai, where he demonstrated a rapid ascent through the corporate ranks.
Lee became a company director at age 29 and achieved the role of CEO at 35, making him the youngest CEO in the history of South Korea. By 1988, at the age of 47, he was appointed chairman of Hyundai Construction, cementing his reputation as a highly effective and driven executive.
Transition to Public Service
Lee entered the political arena in the 1990s, serving as a member of the National Assembly for the Jongno constituency in Seoul from 1996 to 1998. However, he gained widespread national recognition during his tenure as the 32nd Mayor of Seoul (2002–2006).
As mayor, he was known for his decisive action and urban renewal projects, most notably the restoration of the Cheonggyecheon stream, which transformed a concrete highway into a public park.
The Presidency (2008–2013)
Lee Myung-bak won the 2007 presidential election and took office on February 25, 2008. His administration focused heavily on economic growth, a philosophy often termed "MBnomics," and environmental policies.
Economic and Domestic Policy
His presidency was marked by efforts to stimulate the economy and a push for English-language education initiatives. He also proposed the construction of a Grand Canal, though the project faced significant opposition. His cabinet was occasionally criticized for being composed of wealthy individuals, leading to the "rich Cabinet" controversy.
Foreign Relations and Diplomacy
On the global stage, Lee sought to elevate South Korea's profile. He hosted the OECD ministerial meeting in 2008 and the G20 summit in 2010.
His relationship with the United States was a cornerstone of his foreign policy, maintaining close ties with both President George W. Bush and President Barack Obama.
Relations with other regional powers were more complex. He held summit meetings with Japanese Prime Minister Yukio Hatoyama and Chinese President Hu Jintao, though tensions persisted with Japan over historical issues and territorial disputes.
Regarding North Korea, Lee's administration eventually declared an end to the "Sunshine Policy"—the previous administration's approach of engagement—opting for a more cautious stance.
Controversies and Beef Imports
One of the most volatile periods of his presidency occurred in 2008 when his administration agreed to resume U.S. beef imports. This sparked massive public protests due to fears of Bovine Spongiform Encephalopathy (BSE), commonly known as Mad Cow disease.
Legal Challenges and Pardon
Following his presidency, Lee faced severe legal scrutiny. On March 22, 2018, he was detained on charges involving bribes and slush funds. In October 2018, he was convicted of bribery, embezzlement, and abuse of power.
The Supreme Court eventually upheld a sentence of 17 years of imprisonment, a fine of 13 billion won, and the forfeiture of 5.78 billion won. However, on December 27, 2022, President Yoon Suk Yeol granted Lee a special pardon.
Summary of Political Career
| Role | Period | Key Focus/Constituency |
|---|---|---|
| Member of National Assembly | 1992–1998 | Jongno (Seoul) / Proportional representation |
| Mayor of Seoul | 2002–2006 | Urban renewal and Cheonggyecheon restoration |
| President of South Korea | 2008–2013 | Economic growth and G20 leadership |
Frequently Asked Questions
What was Lee Myung-bak's professional background before politics?
Lee was a highly successful business executive at Hyundai Engineering and Construction, where he became the youngest CEO in South Korean history at the age of 35 and later served as chairman.
What was the "Sunshine Policy" and how did Lee handle it?
The Sunshine Policy was a previous administration's strategy of engagement and aid toward North Korea. Lee Myung-bak's administration formally declared an end to this policy, moving toward a more independent and cautious approach.
Why did the resumption of U.S. beef imports cause protests?
The decision led to widespread public fear that beef imported from the U.S. could be infected with Mad Cow disease (BSE), leading to large-scale demonstrations in the summer of 2008.
What were the legal charges against Lee Myung-bak?
Lee was convicted of bribery, embezzlement, and abuse of power, specifically related to receiving bribes and managing slush funds. He was originally sentenced to 17 years in prison.
Is Lee Myung-bak still in prison?
No. Although he was sentenced to a lengthy prison term, he was granted a special pardon by President Yoon Suk Yeol on December 27, 2022.