Sebang Group founder and honorary chairman Lee Eui-soon, known for 'Rocket' car batteries, dies at 104

[Financial News] Lee Eui-soon, honorary chairman and founder of Sebang Group, known for the car battery brand 'Rocket,' died on the 11th at the age of 104.
Born in Boseong, South Jeolla Province, in 1923, he began his public service career at the Foreign Capital Administration after Korea's liberation. Drawing on experience in purchasing and procurement that he gained during the early stages of economic development in the 1960s, he later founded Korea Shipping, the country's first shipping company. He is credited with laying the groundwork for the modernization of Korea's shipping and logistics industries.
He expanded his business into Sebang, Sebang Battery, Sebang Express and Sebang Industries, among others, growing the Sebang Group into a corporate group spanning logistics services and automotive batteries.
In particular, he raised the profile of the Sebang Group through its car battery brand, 'Rocket Battery.'
In recognition of his social responsibility as a business leader and his contributions to private-sector diplomacy, he received the Presidential Order of Service Merit, Green Stripes, the Bronze Tower Order of Industrial Service Merit and the Gold Tower Order of Industrial Service Merit. He also received foreign honors, including the German government's Cross of Merit and the Italian government's Order of Merit.
Guided by the management principles of 'trust, integrity and diligence,' he established the Sebang Lee Eui-soon Foundation in 2007 and worked to advance social causes, including child welfare and support for underprivileged groups.
He is survived by one son and two daughters, including Sebang Group Chairman Lee Sang-woong. The funeral parlor has been set up at The Catholic University of Korea, Seoul St. Mary's Hospital, and a memorial altar at the honorary chairman's memorial hall at Sebang Battery's Gwangju plant. The funeral procession will depart at 6 a.m. on the 14th.

[email protected] Kim Hyun-cheol Reporter