Lee Woon-hyung, chairman of SeAH Group, an established mid-sized steel maker, died of a stroke Sunday during an overseas business trip. He was 66.

2013-03-11 19:40

SeAH Group chairman dies

By Yi Whan-woo


Lee Woon-hyung, chairman of SeAH Group, a mid-sized steel maker, died of a stroke Sunday during an overseas business trip. He was 66.
The firm announced that Lee died in Tahiti on his way to Chile, where he was scheduled to attend a business forum.
“His body will be returned home today at the earliest and we’ll set a funeral date soon,” a company spokesman said.
His late father, Lee Chong-duk, founded the Busan Steel Pipe Industry in 1960. The junior Lee joined the company in 1974 and succeeded his father as president and CEO of the firm in 1995, a year before he changed its name to SeAH Steel.Under his leadership, the firm has grown into one of the country’s major manufacturers of carbon and stainless steel pipes.
Its average annual sales were 3 trillion won ($2.73 billion), half of which was from exports.
Lee expanded the business to other types of steel, such as plates for automobiles.
The group is comprised of SeAH Steel and SeAH Holdings. It is the nation’s 51st largest business group with an asset of 6.9 trillion won as of 2012.
Lee graduated from Seoul National University in 1969 and earned a master’s degree in business administration at the University of Michigan-Ann Arbor in 1974. He has served as the head of the U.S school’s alumni association in Korea since the late 2000s. He also worked as the vice chairman of both the Korea International Trade Association and the Korea Iron and Steel Association from the 1990s.
Lee devoted himself to the arts, and has supported the Korea National Opera (KNO) financially.
He is survived by his wife, one son and three daughters.


About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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