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From rags to riches to jail.

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| October 01, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From The Korea Herald)

G&G Chairman Lee Yong-ho appears to be a man of formidable tenacity. While in prison due to illegal activity that caused hundreds of small investors to lose their money, he is still attempting to take part in the management of Samae Indus Corp. In May, he sent letters to small investors in the company, saying that he was planning to continue the search for sunken treasure and push ahead with new businesses through inducement of the necessary capital.

On Sept. 17, he attempted to recover his management rights by having a general meeting of shareholders held through an agent. In the nine-hour-long voting he failed to recover his management rights, but succeeded in securing voting rights over 48.6 percent of Samae's stock, showing his persistence.

A native of Yeonggwang, South Jeolla Province, he is said to have had to work from his middle school days, and that there was no part-time job he did not do at some point.

Upon graduation from high school where he attended night classes, he got a job as an accountant at a small bus company in Gwangju for two years. He then started a bus business with the knowledge he learned there. Following the unstable situation in the city ...

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