Read the complete write-up of Lee Soo-man net worth, age, wife, children, height, family, parents, SM Entertainment as well as other information you need to know.
Introduction
Lee Soo-man is a South Korean businessman, music executive and record producer who is best known for being the founder of SM Entertainment, a multinational South Korean entertainment company based in Seoul. He has also been referred to as the “president of culture”, as he pioneered the Korean Wave. Lee debuted as a singer in 1971, while he was a student at Seoul National University. He founded SM Entertainment in 1989, which has since then become one of the largest entertainment companies in South Korea.
Early life
| Name | Lee Soo-man |
| Net Worth | $200 million |
| Occupation | Businessman, Music executive, Record producer |
| Age | 70 years |
| Height | 1.71m |
Lee Soo-man was born on June 18, 1952 (age 70 years) in Jeonju, South Korea. He is the son of Lee Hee-jae, and Kim Gyeong-hyeon. Lee attended Seoul National University on and off between 1971 and 1979. Lee debuted as a member of the band April and May in 1972 (he had joined the band in 1971), but he later departed from it due to health reasons.
Soo-man gained the spotlight for his “good boy” image, supported by the fact that he was one of the few people who were not involved in the weed scandal among Korean celebrities in 1975, and his high academic credentials at Seoul National University. He became known for hit songs such as “행복 (Happiness)”, released in 1978, and “한송이 꿈 (A Piece of Dream)” released in 1976. In 1977, he was a member of the Korean indie band Sand Pebbles. In addition to his career as a musician and his studies at university, he worked as a radio DJ and TV host during this time.
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Lee Soo-man was also known for his trio with singers Lee Moon-sae and Yoo Yeol called Masamtrio (馬三트리오), named as such because of their appearances that resemble that of a long face of a horse. In 1980, he formed the band 이수만과 365일 (Lee Soo-man and The 365 Days). However, media censorship policies under the Chun Doo-hwan government discouraged him from a career in the Korean music industry.
In the early 1980s, Lee decided to leave the entertainment world in order to pursue a career in computer engineering. He went abroad to work on a master’s degree at California State University, Northridge, where he witnessed the rise of “superstars of the MTV generation” such as Michael Jackson. Inspired by the heyday of MTV in the United States, Lee set his sights on laying the foundation for the modern Korean pop music industry. In 1985, he returned to Korea “with a vision of what the Korean music industry could be.”
Founding SM Entertainment
Lee Soo-man ventured back into the entertainment world by working as a DJ and presenter following his return to Korea. In 1989, after four years of saving money and gaining experience in the industry, he established an entertainment company called SM Studio (named after his initials) in the Apgujeong neighborhood of Seoul and signed singer Hyun Jin-young. During the 1990s, SM Studio developed an in-house system that looked after all aspects of its artists’ careers.
Lee’s approach was targeted at teenage audiences and took a holistic view of the qualities needed to become a successful entertainer. The company was renamed SM Entertainment in 1995. In February 2010, Lee resigned from his position as a member of SM’s board of directors but maintained a role in the company’s “management and artist development” divisions.
On 23 January 2020, Lee Soo-man was listed by Billboard as one of the world’s influential music industry leaders. On 5 February 2020, it was revealed by Jeff Benjamin writing for Forbes that Lee Soo-man worked on South Korean girl group Loona’s EP, which was his first ever project away from namesake SM Entertainment.
Controversy
In 2002, the Supreme Prosecutors’ Office of the Republic of Korea found evidence of Lee earning 10 billion worth of illegal market profits in August 1999 by acquiring 1.1 billion worth of stocks when listing stocks of SM Entertainment at KOSDAQ by a paid-in capital increase. The Supreme Prosecutor’s Office of the Republic of Korea also investigated Lee regarding circumstantial evidence of lobbying producers in broadcasting stations and keeping a tremendous amount of cash in his personal office and vaults.
Lee Soo-man tried to escape prosecution by staying overseas from June 2002 and was found on a golf course in Los Angeles on August 2, 2002, in the same year. While on the run, Lee’s passport was nullified and Lee was chased by Interpol. Lee eventually came back to Korea to be investigated on 22 May 2003. A pre-arrest Warrant was applied on October 7, 2003, and Lee was arrested on 8 August.
On October 14, 2003, Lee was approved for bail after paying 30 million won. On 19 October, Lee was prosecuted without detention. In September 2004, the Supreme Court of Korea sentenced two years of imprisonment along with three years of probation. Lee Soo-man was released in a special exemption in 2007 commemorating the fourth year of Roh Moo-hyun’s presidency.
In 2009, three members of the boy band TVXQ took their management agency SM Entertainment owned by Lee Soo-man to court, claiming that the agency’s 13-year-contract (often nicknamed a slave contract) was too long, too restrictive, and gave them almost none of the profits from their success. The following year, in 2010, South Korea’s Fair Trade Commission (KFTC) created a rule that limited entertainment contracts to seven years. Lee Soo-man was included in the names of figures in the Pandora Papers.
Wife
Lee Soo-man was married to Kim Eun-jin, they had their wedding in 1984. His wife died from cancer on 30 September 2014. He is also the paternal uncle of Sunny, one of the members of the popular SM group Girls’ Generation. On 8 March 2022, Lee donated ₩500 million to the Hope Bridge Disaster Relief Association to help those affected by the massive wildfires that started in Uljin, Gyeongbuk. and also spread to Samcheok, Gangwon. As of mid-2022, Lee Soo-man has not remarried but has one son Lee Hyeon-gyu.
Lee Soo-man net worth
How much is Lee Soo-man worth? Lee Soo-man net worth is estimated at around $200 million. His main source of income is from his career as a businessman, music executive and record producer. Lee Soo-man’s salary per month with other career earnings is over $30 million annually. His successful career has earned him some luxurious lifestyles and some fancy car trips. He is one of the richest and most influential music executives in South Korea. Lee Soo-man stands at an appealing height of 1.71m and has a good body weight which suits his personality.