History of Lee Myung-bak

Lee Myung-bak is a prominent South Korean politician and business executive who served as the President of South Korea from 2008 to 2013. His tenure in politics and business has been marked by remarkable achievements as well as controversies. Understanding Lee Myung-bak’s influence requires a look at his early life, rise in business, political career, presidential tenure, and post-presidency period.

**Early Life and Education**

Lee Myung-bak was born on December 19, 1941, in Osaka, Japan, during the Japanese occupation of Korea. After World War II and Korea’s liberation from Japanese rule, Lee’s family returned to their home country, settling in Pohang, in what is now South Korea. Lee grew up in a poor family, which inspired his strong work ethic and relentless drive to succeed.

He attended Korea University in Seoul, where he studied business administration. To finance his education, Lee worked part-time jobs, which honed his practical skills and contributed to his understanding of economic issues. His time in university was fundamental, as it was during this period that he developed an interest in leadership and public service.

**Rise in Business**

After graduating, Lee joined Hyundai Engineering and Construction in 1965. This marked the beginning of a significant chapter in his life. Over the next three decades, Lee rose through the ranks rapidly due to his ambition and business acumen. He played a crucial role in Hyundai’s expansion both domestically and internationally, overseeing projects that included highways in Thailand and shipyards in Saudi Arabia. By the end of his tenure with Hyundai, Lee had become CEO, earning the nickname "Bulldozer" for his dynamic and forceful approach to business challenges.

**Political Career**

Lee’s transition from business to politics occurred in the late 1990s. In 1992, he was elected to the National Assembly, but quickly ran into legal challenges. In 1996, he lost his parliamentary seat due to election law violations, highlighting the rough-and-tumble nature of South Korean politics.

Despite setbacks, Lee was elected as the mayor of Seoul in 2002. During his time as mayor, from 2002 to 2006, he undertook ambitious urban projects, most notably the Cheonggyecheon Stream restoration – a massive urban renewal project in downtown Seoul. This endeavor showcased his penchant for large-scale initiatives, transforming the city’s landscape and improving urban life. The project's success bolstered his reputation, setting the stage for his presidential run.

**Presidency (2008-2013)**

Lee Myung-bak was elected as the 10th President of South Korea in December 2007, representing the conservative Grand National Party (now the People Power Party). His presidency began during a global financial crisis, and his administration prioritized economic growth, job creation, and free market policies to bolster South Korea's economy. One of his key economic policies was the "747 Plan," which aimed for 7% annual economic growth, an increase of South Korea's per capita income to $40,000, and elevating the country to the world’s 7th largest economy. Although ambitious, these targets proved difficult to achieve.

He also focused on reducing regulation to encourage business investments and pursued free trade agreements, most notably the Korea-U.S. Free Trade Agreement, which was implemented during his term and aimed to strengthen economic ties between the two nations.

In foreign policy, Lee adopted a firmer stance towards North Korea. His administration took a hardline approach, slowing down previous liberal policies of engagement. This shift led to heightened tensions on the Korean Peninsula, notably marked by incidents such as the sinking of the ROKS Cheonan in 2010, which South Korea attributed to a North Korean submarine attack.

Lee's presidency also emphasized “green growth,” aimed at achieving sustainable development and reducing reliance on fossil fuels, reaffirming South Korea's commitment to tackle climate change.

**Challenges and Controversies**

Lee’s presidency was not without controversy. Domestically, his administration faced criticism over various issues, including the decision to resume U.S. beef imports, which led to widespread protests and dissatisfaction among the public due to health concerns linked to mad cow disease. Allegations of corruption emerged during and after his presidency, casting a shadow over his achievements.

**Post-Presidency and Legal Issues**

After leaving office in 2013, Lee remained an influential figure in South Korean politics. However, his post-presidency period was marred by legal challenges and corruption allegations. In 2018, he was arrested on charges of corruption, including bribery and embezzlement, related to his time in office. He was convicted and sentenced to 15 years in prison. These legal challenges have significantly affected his legacy, contributing to the broader discourse on corruption within South Korean political and business spheres.

Lee Myung-bak’s life and career encapsulate the dynamic interplay between business acumen and political prowess, marked by significant accomplishments and complex controversies. His impact on South Korean politics and society remains a topic of discussion, offering lessons on leadership, governance, and the intricate challenges of maintaining integrity in public service.