1. Early Life and Education
Lee Hae-jin was born on June 22, 1967, in Seoul, South Korea. His father served as a vice president at Samsung Life Insurance. Lee attended Samsung High School before pursuing higher education. In 1990, he earned his bachelor's degree in electronic computer engineering from Seoul National University. He continued his studies at the Korea Advanced Institute of Science and Technology (KAIST), where he completed his master's degree in computer science in 1992.
2. Career
Lee Hae-jin's career path showcases his journey from an early professional at a major conglomerate to a pioneering entrepreneur who founded and led one of Asia's most influential technology companies.
2.1. Early Career
Lee Hae-jin began his professional career in 1992 at Samsung SDS, the information technology services arm of the Samsung Group. During his tenure at Samsung SDS, he was involved in an in-house venture that would eventually lay the groundwork for his future endeavors. By 1997, he was leading this internal project, which focused on developing a new search engine technology, effectively serving as a "small business owner" within Samsung SDS.
2.2. Founding and Development of Naver
Building on his experience, Lee Hae-jin officially established Naver.com on June 2, 1999. Initially, Naver's primary product was its innovative search engine, which quickly gained traction in the South Korean market. Under his leadership, Naver rapidly expanded its services beyond just search, evolving into a comprehensive web portal. This expansion included the integration of online communities, diverse e-commerce platforms, and a suite of mobile applications, transforming Naver into a dominant force in the digital landscape of South Korea.
2.3. Leadership Roles
Lee Hae-jin has held numerous key executive and leadership positions throughout his career, guiding Naver's growth and international expansion. From 2001 to 2003, he served as a co-CEO of NHN Corporation, a company formed from the merger of Naver.com and Hangame. Following this, from 2004 to 2013, he took on the roles of Chairman of the Board and Chief Strategy Officer (CSO) at NHN.
His focus extended to global markets, particularly Japan, where he served as a director of NHN Japan from 2007 to 2013, eventually becoming the Chairman of NHN Japan from 2012 to 2013. A significant achievement during this period was the development and launch of the instant messaging application, LINE, in 2011, which quickly grew into a global phenomenon.
From 2013 to 2017, Lee Hae-jin served as the Chairman of the Board for Naver and also as the Chairman of LINE Corporation. In 2017, he stepped down from the Naver board of directors, partly due to his relatively low shareholding in the company, a result of early investments, stock exchanges for acquisitions, and past stock sales. However, this move was not a retreat from management but rather a strategic shift to dedicate his efforts to Naver's global business, especially focusing on LINE and other overseas ventures, in his new role as Naver's Global Investment Officer (GIO), a position he continues to hold.
2.4. Role in A Holdings
On March 1, 2021, Lee Hae-jin was appointed Chairman of the Board of A Holdings. This appointment followed the significant business integration of Z Holdings (a subsidiary of SoftBank Group) and LINE Corporation, marking a new chapter in his involvement with major international digital platforms.
3. Major Achievements and Contributions
Lee Hae-jin's most significant achievement is the founding and successful development of Naver Corporation, which transformed South Korea's internet landscape. Under his leadership, Naver grew from a nascent search engine into a dominant web portal, offering an extensive range of services that became integral to daily life in South Korea. His strategic vision led Naver to expand into online communities, e-commerce, and mobile applications, creating a comprehensive digital ecosystem.
Beyond Naver's domestic success, Lee Hae-jin spearheaded the global expansion of its subsidiary, LINE. Launched in 2011, LINE quickly became one of the world's leading messaging applications, particularly popular in Japan, Taiwan, Thailand, and Indonesia, demonstrating his capability to drive international growth and innovation. His pioneering efforts have left an indelible mark on the South Korean internet industry, establishing a model for indigenous tech companies to compete and thrive against global giants, and cementing his reputation as a visionary entrepreneur in the global digital age.
4. Personal Life
Lee Hae-jin is married and has two children. His father was a vice president at Samsung Life Insurance.
5. Controversies and Criticism
Lee Hae-jin and Naver Corporation have faced various controversies and criticisms throughout their operational history, raising questions about the platform's social responsibility, ethical practices, and corporate governance across multiple domains.
5.1. Allegations of Portal Bias and Opinion Manipulation
Naver has been widely criticized for its operational policies, which some view as passive and permissive, particularly concerning its role as a major news portal in South Korea. Accusations include the unfair grading and classification of domestic media outlets, with critics arguing that the criteria and practices used for content display are not transparent or impartial. A significant concern has been the alleged neglect in preventing the manipulation of public opinion through comments on news articles, leading to accusations that Naver has failed to adequately address or prevent such activities on its platform.
5.2. Workplace Environment and Employee Treatment Concerns
Concerns have been raised regarding the workplace environment and employee treatment within Naver. The company has faced allegations of management negligence contributing to frequent instances of workplace bullying and the tragic suicides of employees. Critics argue that Naver's corporate culture has, at times, treated employees as mere "parts," leading to significant well-being issues. The controversy surrounding workplace conditions led to the resignation of former CEO Han Seong-sook, and current CEO Choi Soo-yeon, appointed in March 2022, has also faced scrutiny over these ongoing issues.
5.3. Bribery and Political Influence Allegations
Lee Hae-jin and Naver have been embroiled in a bribery scandal related to alleged financial contributions to Seongnam FC. Prosecutors investigating the Seongnam FC sponsorship controversy identified Naver as one of the companies that provided bribes, with Lee Hae-jin reportedly at the center of the allegations.
The accusations suggest that during Lee Jae-myung's tenure as Seongnam Mayor, Lee Hae-jin sought favors for the construction of a new Naver headquarters, including building permits, an increase in floor area ratio, and changes to car access roads. In exchange for these favors, Naver allegedly paid approximately 4.00 B KRW to Seongnam FC under the guise of sponsorship funds, at the mayor's request. Prosecutors revealed that Naver reportedly attempted to conceal the origin of these funds by channeling them through a non-profit organization, Hope Sharing (now Rolling Jubilee), and by disbursing the sponsorship in fragmented payments. As a result of the investigation, prosecutors indicted Naver CEO Kim Sang and Naver I&S CEO Kim Jin-hee on charges of bribery and violating the Proceeds of Crime Act.
5.4. Consumer Deception via Fake Reviews
Naver Shopping has faced significant criticism concerning consumer deception, particularly regarding its handling of fake customer reviews. The Portal Committee concluded that Naver's alleged neglect or facilitation of fake reviews on its shopping platform constituted consumer deception and a form of fraud. This finding followed an earlier action by the Fair Trade Commission, which had issued a corrective order and imposed fines on a sales company and an advertising agency for posting approximately 2,700 fake reviews on Naver Shopping. The Portal Committee indicated plans to pursue legislative amendments aimed at supporting consumer relief from damages caused by large platform companies like Naver, a controversy that reportedly impacted Naver's stock price.
6. Legacy and Influence
Lee Hae-jin's legacy is primarily defined by his role as a pioneering entrepreneur who founded Naver Corporation, transforming it into a dominant force in South Korea's digital economy. His vision extended beyond domestic success, leading to the global expansion of services like LINE, which became a leading messaging platform in several Asian markets. He is widely recognized for fostering an environment where indigenous technology could thrive against international competition, significantly influencing the development of the South Korean technology sector. His strategic shift to Global Investment Officer reflects a continued commitment to identifying new growth opportunities and expanding Naver's influence on the global internet landscape, solidifying his reputation as a key figure in the digital age.