In his 20s and 30s, Lee worked as a librarian at the National Library of Korea, a lecturer in library science at Yonsei University in Seoul, and the managing director and secretary general of the Korean Library Association under the Ministry of Education.
In his mid-40s, he made a sudden move to the United States, becoming a golf club salesman, and in his mid-50s, when most people were preparing to retire, he founded Diamond Multimedia Systems, a software development company in Silicon Valley. In less than a decade, he took the company public on NASDAQ, growing it into a billion-dollar enterprise.
Lee’s journey of progress continued. After successfully selling his company in 1995, he became a wealthy social entrepreneur and philanthropist. He donated $15 million to build the Asian Art Museum in San Francisco, established the venture capital firm AmBex Venture Partners to invest in the next generation of start-up entrepreneurs, and contributed $2 million each to Stanford University and KAIST to provide advanced education opportunities.
Though he has always garnered media attention, Lee has maintained a low profile. However, this year, he once again took action for the Korean community. After a long absence from the Korean community, Lee has been traveling between Korea and Japan, meeting people and giving lectures.
However, his primary focus has been on his studies. Whenever he has free time, he immerses himself in his study, surrounded by stacks of books. When asked what he is currently studying, Lee responds without hesitation, “It’s time for the Korean American community to produce Nobel Prize winners. I’m trying to find a way.”
– What does it mean when you say, “It’s time for the Korean community to produce Nobel Prize winners”?
“Historically, the Korean American community has primarily focused on external growth. For first-generation Korean immigrants, economic security was a priority. Chinese and Japanese Americans already have Nobel Prize winners. They are from the same minority and immigrant community, but their achievements are very different from ours.”
– Does the idea of a second-generation Korean American Nobel Prize winner still seem distant to you?
“Not really. It is very much possible, but it’s just that the Korean American community hasn’t contemplated it or anticipated it. Look at American society today. They are obsessed with K-pop and K-dramas. That’s how high the profile of Korea and the Korean American community has risen. The second and third generations of Koreans are capable and intelligent. If they challenge themselves not only in culture and arts but also in academics, they will quickly rise to prominence.”
– Which academic fields are you referring to?
“It is said that the era of artificial intelligence has begun, but that’s precisely why basic academic studies are more important than ever. Above all, to prepare for the era of AI, one must have a strong foundation in basic science-related knowledge. Knowing how to code is not sufficient to thrive in the computer era. We can learn everything from books. Everything I know now, I learned from books. If we know what we need and how we can contribute to society, we can live better together.”
– What are the challenges for the Korean American community?
“Fundamentally, it lies in the field of academia. We need more second and third-generation Korean Americans in mainstream universities and research think tanks. We rely on American scholars to learn about Korea’s past and future. If we want to access Korea-related data and information, we have to rely on English-language papers and resources. The renowned Berkeley East Asian Library has relatively few papers and books on Korea written by second-generation Korean Americans. Instead, there are more researches on Korea by Chinese and Japanese scholars. As the Korean American community with a 120-year immigration history, I find this somewhat embarrassing. I would like to see more second and third-generation Korean Americans engaged in researching Korea. The research papers by Korean descendants and American scholars are undoubtedly different. I hope to see our descendants leading the research about Korea, and I believe that day will come soon.”
– I’m a little surprised that a venture capitalist emphasizes academics.
“A venture company can only thrive if it has a strong academic foundation. Without the necessary theories and foundation, one may succeed in the short run but won’t survive in the long run. If you want long-term growth, you have to keep studying technology, even if it takes time. To achieve that, you have to study.”
– You achieved the ‘success story of Silicon Valley.’ What are your expectations for the Korean American business community?
“It’s time for Korean American companies to truly go global. First and foremost, Korea’s economy is now among the top in the world. The Korean American community should be able to support the economic strength of the motherland.”
Lee was referring to the upcoming 2023 World Korean Business Convention in Orange County this October. He seemed to have mixed feelings about the fact that the convention, which started 28 years ago in 1995 when he brought Korean businessmen from around the world to Korea, has now grown and is being held in Orange County, California.
Lee served as the chairman of the Korean American Chamber of Commerce, which held a three-day event at the Hilton Hotel in Seoul from August 31 to September 2, 1995, bringing together Korean businessmen from over 20 countries. Over 400 Korean businessmen participated in the event upon Lee’s invitation.
“At that time, the Korean economy was in desperate need of exports,” Lee recalled. “The idea behind the World Korean Business Convention was to help Korean businessmen visiting Korea increase trade with their motherland and contribute to Korea’s economic growth.”
– How would you compare the event back then to the one that will be held in October?
“Korea was able to grow into the country it is today because of the united efforts of the American business community. To support Korean exports, Korean buyers were more active than anyone else in purchasing and exchanging items produced in Korea. This year’s event, held overseas for the first time, represents a new call to action to contribute to the Korean economy. It also signifies the growth of the Korean economy. In the future, we need to develop the World Korean Business Convention into an expo that attracts business people from all over the world. That is our current task.”
– What would you like to say to the Korean American community?
“I want the Korean American community to come together with a spirit of community. The basis of American society is community. When there is an issue, we discuss it together to solve the problem and move forward together. I hope the Korean American community takes the initiative to integrate into mainstream society and participate in community activities in their neighborhoods. That way, we can eradicate Asian racism and hate crimes against Koreans.”
His love and passion for the Korean American community were evident as he confidently walked with a straight back.
BY NICOLE CHANG [support@koreadaily.com]
