Taekwang Holds Memorial for Founder Lee Imyong on 30th Anniversary of His Death: "Must Secure New Growth Engines"

Memorial service marks 30th anniversary of founder and former chairman Lee Imyong's death
More than 270 affiliate executives and employees attend
Exhibition of personal belongings and quotations on display at Cinecube through November 8

Taekwang Group said on October 27 that it held a memorial service marking the 30th anniversary of the death of its founder, former chairman Lee Imyong, at Cinecube in the Heungkuk Life Insurance Building in Gwanghwamun, Seoul.

After attending a memorial service marking the 30th anniversary of the death of Lee Imyong, former chairman of Taekwang Group, at the Heungkuk Life Building in Gwanghwamun, Seoul, on the morning of the 27th, Lee Hojin, an adviser to Taekwang Industries, views a photo exhibition featuring records from the late chairman's life. Taekwang Group

More than 270 people attended, including Lee Hojin, adviser to Taekwang Industrial; Taekwang Industrial CEOs Jung Incheol and Lee Buui; Heungkuk Life Insurance CEO Kim Hyungpyo; Heungkuk Fire & Marine Insurance CEO Kim Daehyun; Aekyung Industrial CEO Kim Sangjun; and other executives and employees of the group’s affiliates. A memorial video about the late chairman’s life and business philosophy was screened, followed by a memorial concert performed by music scholarship recipients of the Ilju Academic and Cultural Foundation.

A memorial exhibition on the late chairman’s life and the group’s growth is on display in the Cinecube lobby through November 8. It features his quotations, audio recordings, and personal belongings, as well as materials on the group’s business expansion and its support for scholarships, culture, and the arts.

In 1954, Lee founded Taekwang Industrial, the predecessor of Taekwang Group. The group expanded from textiles into petrochemicals and finance with the completion of its Ulsan acrylic plant in 1967 and its acquisition of Heungkuk Life Insurance in 1973. Lee also established Ilju Academy and the Ilju Academic and Cultural Foundation to support education and scholarships. He died in 1996 and was posthumously awarded the Gold Tower Order of Industrial Service that same year.

In his memorial address, Lee Hojin cited the late chairman’s words, “The future does not come to us; we create it. If we cannot create it ourselves, there is no future promised to us,” and emphasized, “Let us lay the foundation for a new leap forward through bold change.”

He added, “The core businesses that have firmly sustained Taekwang for more than 70 years are facing a battle for survival,” and said, “Taekwang’s most urgent task now is to secure new growth engines.”

This content was produced with the assistance of AI translation services.