Lee Kwang-rae, the founder of Umi Group, passed away on the 9th at the age of 93.
Born on Nov. 8, 1933, in Doam-myeon, Gangjin-gun, South Jeolla Province, Lee enlisted in the military as a private in 1955 and, after passing the officer selection exam and completing the training course, was commissioned as a second lieutenant in the Army in July 1957 at the Gwangju Army School. He served for 18 years as a finance officer until he retired as a major on Aug. 31, 1973.
After his discharge in 1982, he founded Samjin Development Co., Ltd., the predecessor of Umi Group, entering the construction industry, and he became the chairman of Umi in March 1992.
He then expanded his construction business, including apartments, primarily in major cities across Korea, including the capital region. In 2005, he received a presidential commendation for his contributions to honest tax payment, along with a total of five commendations for tax diligence, and in 2006, he established the Geumpa Foundation (now Umi Hope Foundation) for social contribution activities. He also participated in housing improvement projects for veterans, receiving numerous recognitions including presidential commendations.
In 2019, he received the Gold Tower Industrial Medal, the highest honor in the construction industry.
▲Gangjin, South Jeolla Province (born in 1933) ▲Instructor at the Army Finance School ▲Administrative Chief of the 2nd Military Command, Republic of Korea Army Headquarters ▲Finance Officer of the 7th Infantry Division ▲CEO of Samjin Development ▲CEO of Umi Construction ▲Chairman of Umi Group