Who is Lee Myung-bak?

Lee Myung-bak ( Korean : 이명박; Hanja : 李明博; / ˌmjʌŋ ˈbɑːk /; Korean: [i.mjʌŋ.bak̚]; born 19 December 1941) is a former South Korean businessman and politician who served as President of South Korea from 2008 to 2013. Before his presidency, he was the CEO of Hyundai Engineering and Construction, and the mayor of Seoul from 2002 to 2006.

How long Will Lee Myung-bak be in jail?

Former South Korean president Lee Myung-bak headed to prison on Monday after a Seoul court upheld a 17-year term on corruption charges. It is effectively a life sentence: unless he is pardoned or paroled, the 78-year-old will not leave jail until 2036, when he would be 95.

Who is Lee Min-hyung?

In 1992, Lee made the transition from business to politics. He joined the Democratic Liberal Party instead of the Unification National Party, founded by Chung Ju-yung. He was elected as a member of the 14th Korean National Assembly (for Proportional representation ).

When did Park Geun-hye replace Lee Chun-Eun as president?

The reformist faction within the Saenuri Party is at odds against Lee. He ended his five-year term on 24 February 2013, and was succeeded by Park Geun-hye . On 22 March 2018, Lee was arrested on charges of bribery, embezzlement, and tax evasion alleged to have occurred during his presidency.

How did Lee Myung-bak resolve the mortgage crisis?

The government’s macroeconomic policy was known as Mbnomics, named after Lee Myung-bak. The government plan to resolve the mortgage crisis was through projects to construct more residential areas. Between 2009 and 2010, the government built 311,000 new apartments, which resulted in limiting annual housing price increases to just 1.2-1.7%.

Why was Park Geun-hye’s ex-husband Park Lee arrested?

Lee’s arrest occurred roughly a year after the arrest of former president Park Geun-Hye, who was arrested on charges stemming from the 2016 South Korean political scandal. Lee was convicted on 5 October 2018 and sentenced to 15 years in prison.