Lee Jung-geun, Chairman of Booyoung, Gives Up to 100 Million Won Each to Hundreds of Hometown Residents (Comprehensive)

"It feels like a dream to receive such a big gift even though we didn't help at all. A miracle that could never happen in reality has occurred."

Jang Chan-mo, chairman of the public monument construction promotion committee, who lives in Dangcheon Village, Unpyeong-ri, Seomyeon, Suncheon-si, Jeollanam-do, smiled brightly. The local community is cheering as it became known that Lee Joong-geun, founder of Booyoung Group, personally distributed up to 100 million won to residents of his hometown Unpyeong-ri.

Chairman Lee Jung-geun, Founder of Booyoung Group / Photo by Booyoung Group

According to village residents and Booyoung Group on the 28th, Chairman Lee deposited amounts ranging from 26 million won to 90.2 million won after tax deductions into the personal accounts of about 280 households in Unpyeong-ri between late May and early June. The payments were divided into five levels based on the actual residence period in the village.

Chairman Lee reportedly decided on this cash distribution two months ago. He expressed his intention by meeting with 12 representatives from six villages in Unpyeong-ri, saying, "I want to show my gratitude for protecting my hometown where I had a difficult childhood." This was done personally without informing the company, reflecting his deep affection for his hometown.

Chairman Lee was born into a poor farming family in Jukdong Village, Unpyeong-ri, and attended Dongsan Elementary School and Suncheon Middle and High Schools in Seomyeon. Later, he earned a master's and doctoral degree in public administration from Korea University Graduate School of Policy in Seoul. He entered the construction industry and founded Booyoung in 1983. His unwavering hometown love led him to establish Booyoung Elementary School in Suncheon in 1991.

This is not the first time he has distributed cash. In the past, he gave 100 million won each to alumni of Dongsan Elementary and Suncheon Middle Schools, and 50 million won each to the 8th graduating class of Suncheon High School. So far, more than 80 alumni from Suncheon Middle and High Schools have been confirmed recipients. Two years ago, he sent up to 1 billion won to relatives who were not direct descendants. He also performed good deeds for comrades who served with him in the military. The total amount of money he has directly given to those around him has reached 150 billion won. Including donated items such as gifts, tool sets, and history books, the total scale is said to be 250 billion won.

Residents of Unpyeong-ri are promoting the construction of a public monument to repay Chairman Lee's kindness. Each person donated 1% of the amount they received. Chairman Jang said, "Chairman Lee asked not to publicize this or erect a monument, but the residents are voluntarily taking action."

Meanwhile, in addition to Chairman Lee's personal donations, Booyoung Group is carrying out various social contribution activities domestically and internationally. Booyoung Group, practicing Environmental, Social, and Governance (ESG) management, has donated over 1 trillion won to society so far.