Neon CEO Tom Quinn on Miky Lee: “It’s so rare for anyone in that position to actually have a true singular taste for — and consistently so — directors of the caliber of Bong Joon Ho and Park Chan-wook.”
, the enigmatic vice chair of South Korea entertainment conglomerate CJ ENM, grew up believing in the simple dictum from her grandfather that would prove to be the guiding principle of her life and work: “No culture, no country.”
“The basic philosophy is just: We are all about supporting the next generation, nurturing the talent and supporting the creators,” Lee tellsAs Lee notes, Korea’s splashy arrival on the global entertainment scene has been 25 years in the making. Lee’s achievement emerges both from a matter of good luck — she was born into one of Korea’s wealthiest families — and from an enduring can-do spirit. It has allowed her to overcome a painful physical disability, surmount career setbacks and then rebound more strongly by leveraging a unique set of multicultural, social and business skills.
Lee is simultaneously someone who values her privacy, a socialite cultural maven and a demanding boss who is known to randomly challenge her staff on their knowledge of the latest movies. Endeavor Content co-CEOs Graham Taylor and Chris Rice have known Lee and CJ for a shorter period. But they have operated a small joint venture called Bon Factory over two years, which established trust and paved the way for the larger takeover deal.
Korea’s leading conglomerates, known as “chaebols,” are often family controlled, frequently sprawl across a wide range of industries and have uneasy relationships with government. Chaebols have been favored as drivers of national economic growth, but they’re also criticized as monopolistic and as sources of political corruption.
“It was painful, because we had enjoyed it so much. I was in elementary school and junior high, and after school one of our joys was going to the studio and watching the recordings,” says Miky Lee. “After that was taken away, it was time to really rebuild our content industry.” “My brother made it very clear to Jeffrey, David and Steven that we were not just investing for the return but we wanted to learn from the best,” says Miky Lee. “I wanted to build the whole content industry in Korea.”
Under Miky and Jay Lee, CJ opened the country’s first multiplex in 1998, marking the beginning of a multinational chain now known as CJ-CGV that today spans China, Turkey, Vietnam and Indonesia. Since 2020, the group has put heavy emphasis on TVing, its more than 10-year-old streaming service that’s now being positioned as a meaningful challenger to Netflix, which has enjoyed transformative success within Korea and as a global purveyor of Korean content.
That’s a sunnier picture than in the early part of the past decade, when CJ’s leadership was in turmoil. Miky Lee found herself in the eye of a storm whipped up by Park Geun-hye, South Korea’s first woman president , a fierce nationalist who traded favors and influence with some of Korea’s chaebols. The melodrama “Ode to My Father,” starring Lee Hyun, Kim Seul-gi, Jang Young-nam, Hwang Jung-min, Kim Yunjin, Ra Mi-ran and Hong Suk-youn, was a big hit for CJ Entertainment in 2014.By that time, Jay Lee had been jailed for embezzlement and breach of trust. And Jay’s children, designated as CJ heirs, weren’t ready to take the reins. Instead, the group was operated by an emergency management committee for two years.
In the U.S., CJ has long dabbled in Hollywood production — it has had an association with Chris Columbus — and sought remakes of CJ’s Korean film IP. Notable among these is “Miss Granny,” a time- travel musical romance directed by “Squid Game” creator Hwang Dong-hyuk that’s been remade in Vietnam, India, Japan, China and Turkey. Tyler Perry Studios is attached for two U.S. versions addressing different demographics.
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