Professor Lee Byung-tae of KAIST Joins 'Hong Jun-pyo Camp' as Economic Strategist

"To Give Hope to Young People,
Corporate Freedom Must Be Expanded"

Professor Byungtae Lee of the Department of Industrial and Systems Engineering at KAIST, considered one of the leading advocates of free market economics in Korea, is joining the 'Hong Jun-pyo Camp' as an economic advisor.

On the 10th, Professor Lee told Asia Economy in a phone interview, "I plan to join the economic policy team of Daegu Mayor Hong Jun-pyo's camp, who has officially declared his presidential candidacy."

He said, "I believe that to create a country where young people have hope, corporate freedom must inevitably be expanded. I want to incorporate these views into policy," adding, "I thought things should be different this time, so I decided to join Mayor Hong's camp, which has administrative experience."

Professor Byungtae Lee, Department of Management Engineering, KAIST

Professor Lee has opposed corporate regulations and expressed pro-business views. He has particularly voiced opinions in the telecommunications sector. He criticized artificial government intervention in telecom fees and opposed the fourth mobile carrier project funded by public funds. He advocates for abolishing the Mobile Device Distribution Improvement Act (known as the Dan-tong Act) as well as all regulations on device subsidies.

Furthermore, regarding the Fair Trade Commission's imposition of a 140 billion KRW fine on Coupang in June last year, he criticized it as "an omnipotent administrative power." He viewed the prosecution's investigation into Samsung Biologics' accounting fraud allegations as a "typical corporate crackdown."

Professor Lee graduated from Cheongju High School and Seoul National University with a degree in Industrial Engineering. He earned a master's degree in Management Science from KAIST and a Ph.D. in Business Administration from the University of Texas at Austin. He worked as a professor at the University of Arizona and the University of Illinois, where he received tenure. After returning to Korea in 2001, he served as dean of the KAIST College of Business, director of the Techno Management Research Center, CEO of the Youth Startup Investment Holding Company, and head of the SK Social Entrepreneur Center.