Lee Soo-man
Lee Soo-man (Korean: 이수만, born June 18, 1952) is a prominent South Korean business executive, record producer, and the founder of SM Entertainment, one of the largest entertainment companies in South Korea. He is widely acknowledged as a pivotal figure in the rise of the Korean Wave, often referred to as the "president of culture" in the Korean music industry.
Early Life and Education
Lee Soo-man was born in Seoul, South Korea. He initially pursued a career in music and was involved in various musical endeavors during his university years. His early career saw him working as a radio DJ and TV host, where he gained significant popularity. During this period, he was part of a musical trio with singers Lee Moon-sae and Yoo Yeol called Masamtrio (馬三트리오), named humorously due to their appearances resembling the long face of a horse.
Founding of SM Entertainment
In 1995, Lee Soo-man founded SM Entertainment, a company that would go on to become a leader in the global entertainment industry. SM Entertainment played a crucial role in popularizing K-pop on a global scale. Under his leadership, the company produced many successful artists and groups, such as H.O.T., BoA, and later, Girls' Generation.
Business Strategy and Influence
Lee Soo-man's innovative approach to the music business includes the development of the Korean idol system, which focused on training and producing young artists to become multi-talented entertainers. This system helped elevate the global status of K-pop.
In 2019, a significant development occurred when KB Asset Management, SM's third-largest shareholder, demanded a merger between SM Entertainment and Like Planning, a company owned by Lee Soo-man that was reportedly taking a significant portion of SM's operating profit. This demand was ultimately rejected by the company.
Recognition and Legacy
Lee Soo-man's contributions to the music industry have been recognized globally. In January 2020, he was listed by Billboard as one of the world's influential music industry leaders. His impact on the entertainment industry has been immense, with SM Entertainment leading the charge in what has been termed the SM 3.0 era.