JOIL ALUMINUM Founder and Honorary Chairman Lee Jaeseop Dies in Daegu
Lee Jaeseop, founder of JOIL ALUMINUM CO., LTD. and its honorary chairman, who led the development of South Korea's aluminum rolling industry, died on November 10 at the age of 86.
Born in Daegu in 1940, he founded JOIL ALUMINUM in 1974, became its president and CEO in 1985, and took office as chairman in 1998. Contributing to the development of South Korea's then-nascent aluminum rolling industry, he laid the foundation for JOIL ALUMINUM to grow into one of the country's leading aluminum rolling companies.
He put into practice his belief that companies should share their achievements with their employees and contribute to the local community. In 2007, he donated 200,000 shares of stock he personally owned, then valued at about KRW 2.2 billion, to the company's employee stock ownership association. He also consistently donated to neighbors in need and the local community, putting his commitment to sharing into action.
In 2020, when the Daegu-Gyeongbuk region was facing severe difficulties due to COVID-19, he also donated KRW 700 million.
He took a keen interest in nurturing talent through education and scholarships. Through the Chunggu Scholarship Association, Sangseo Educational Foundation, and Yundang Education Foundation, he provided countless students with opportunities to learn and contributed to the development of local education.
In recognition of his contributions, he received the Order of Industrial Service Merit, Seoktap, in 1984. In 1997, the French government awarded him the Legion of Honour, its highest decoration, for his contributions to strengthening friendship between South Korea and France and expanding economic exchanges. He also received the Special Geumo Award at the 50th Geumo Awards ceremony in 2024.
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His funeral has been arranged at the funeral hall of Daegu Catholic University Medical Center. The funeral procession will depart at 7 a.m. on November 13, and he will be laid to rest at the family burial ground in Sinbang-ri, Namcheon-myeon, Gyeongsan, Gyeongbuk.
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