The late Lee Dong-chan, former chairman of Kolon Group, was inducted into the 'Hall of Fame of Corporations in South Korea'.
Kolon Group noted that this former chairman was selected as an honoree in the institutional sector of the 2024 Hall of Fame of Corporations in South Korea, as designated by the Korean Academy of Management on the 20th.
Kim Yeon-seong, chairman of the Korean Academy of Management, said, "Lee Dong-chan, the former chairman of Kolon Group, demonstrated outstanding management achievements as an entrepreneur representing South Korea and contributed significantly to the remarkable development of the country's economy through successful corporate management for future industrial innovation and economic growth." The Korean Academy of Management has been selecting entrepreneurs who have contributed to the development of the Korean economy since 2016 and honoring them in the Hall of Fame.
This former chairman marks the 10th anniversary of his passing this year. He is regarded as an entrepreneur who pioneered the Korean textile industry and led economic development. He established the predecessor of Kolon Corporation, named Kaemyung Sangsa, in 1954, introducing nylon to the domestic market for the first time. In 1957, he founded Korea Nylon Co., Ltd., the predecessor of Kolon Group, alongside his father, Lee Won-man, and built the first nylon yarn factory in South Korea.
After taking office as chairman of Kolon Group in 1977, this former chairman served as chairman of the Korea Textile Industry Association, leading the advancement of the domestic textile industry. He also diversified the group's business by advancing into new growth industries such as chemicals, construction, pharmaceuticals, electronics, and information and communication.
This former chairman was awarded the Gold Tower Industrial Medal, the highest honor for entrepreneurs, in 1982. In 1992, he became the first entrepreneur to receive the National Order of Merit, Mugunghwa Medal, the highest decoration awarded to individuals.
This former chairman served as the president of various sports organizations, including the Korean Basketball Association and the Korean Golf Association, and played a key role in sports diplomacy as a commissioner of the Korean Olympic Committee. He contributed to successfully hosting the 2002 Korea-Japan World Cup as the first chairman of the organizing committee. In particular, he was evaluated as having played a significant role in supporting the previously unpopular sport of marathon, helping to produce a gold medalist in the 1992 Olympic marathon. For these contributions, he received numerous sports medals, including the White Horse Medal in 1982, the Tower of Sports Medal in 1986, and the Blue Dragon Medal in 1992.
After stepping down from management in 1996, he served as the chairman of the Oun Cultural Foundation and engaged in social contribution activities. In 2001, he established the Woojeong Seonhaeng Award and encouraged the protagonists of good deeds and commendable stories annually until his passing in 2014.