Shinhan Bank Founder’s “Lee Hee Geon Award” Established; Satoshi Ue Named Inaugural Recipient

Awarded to Individuals Who Contributed to Academic, Economic, and Cultural Exchanges Between Korea and Japan

The Lee Hee Geon Award, established to honor the legacy of the late honorary chairman and founder of Shinhan Bank, Lee Hee Geon, was created for the first time this year. Satoshi Ue, former chairman of Sanyo Electric, was selected as the inaugural recipient in recognition of his contributions to academic, economic, and cultural exchanges between Korea and Japan.

On the 19th, at the Westin Hotel in Osaka, Japan, Satoshi Ue, former chairman of Sanyo Electric and the inaugural recipient of the Lee Hee Geon Award (center), took a commemorative photo with Heun Lee, advisor of the Lee Hee Geon Korea-Japan Exchange Foundation, and Kyung Jae Lee, director. Provided by Shinhan Financial Group.

On June 23, Shinhan Financial Group announced that the Lee Hee Geon Korea-Japan Exchange Foundation, a public foundation, established the Lee Hee Geon Award to carry on the late chairman’s commitment to the development of the Korean economy and his philosophy of serving the nation through finance, and selected its first recipient this year.

Satoshi Ue, the inaugural recipient, is a descendant of the founder of Sanyo Electric in Japan. In the early 1960s, during the initial phase of Korea’s industrialization, he established Samsung Sanyo Electric, a joint venture with Samsung Electronics. Through this and other efforts, he contributed to the advancement of Korea’s electronics industry and the cultivation of talent by enabling more than 100 Korean engineers to learn Japanese electronic technology, thereby promoting technological and personnel exchanges between Korea and Japan.

Additionally, he founded the Osaka Watso Cultural Exchange Association, which played a key role in preserving the Sachonwangsa Watso festival, a traditional Korea-Japan cultural event that was at risk of being discontinued. In recognition of these achievements, he was awarded the Order of Diplomatic Service Merit, Sungnye Medal, by the Korean government in 2010. Satoshi Ue stated upon receiving the award, “In honor of the late chairman’s legacy, I will continue to do my utmost to promote mutual understanding and friendship between Korea and Japan.”

The Lee Hee Geon Korea-Japan Exchange Foundation also selected Kyoto International School, an ethnic Korean school in Japan, as the recipient of a special award. The school’s baseball team won the national high school baseball tournament in Japan last year. The foundation personally visited the school to express gratitude for instilling pride in the Korean community in Japan.

Satoshi Ue received a certificate, a commemorative medal, and a cash prize of 30 million won, while Kyoto International School was awarded a certificate and a cash prize of 10 million won.

Kyung Jae Lee, director of the Lee Hee Geon Korea-Japan Exchange Foundation, stated, “We will continue to provide various forms of support to further expand exchanges between the two countries.”