Lee Boo-seob, the chairman of Dongjin Semichem, passed away on 25th February at the age of 88 due to health complications. His death marks the end of an era for one of South Korea’s leading semiconductor materials companies, which he founded in 1967. Under his leadership, Dongjin Semichem grew from producing foaming agents to developing advanced materials for semiconductors and displays as well as alternative energy materials.
Born in 1937, Lee graduated from Gyeonggi High School and went on to obtain his chemical engineering degree from Seoul National University. His entrepreneurial spirit led him to establish Dongjin Chemical Industrial Co., the predecessor of Dongjin Semichem, where he succeeded in locally sourcing foaming agents for the first time in South Korea back in 1970. By 1989, he achieved another milestone by developing the country’s first photoresist material for semiconductors, positioning Dongjin Semichem as one of the key players in the high-tech materials sector.
Beyond his early successes, Lee's work paved the way for the domestic production of semiconductor materials, including CMP slurry and anti-reflective coatings (BARC), helping the company to maintain over one trillion won in annual revenue. His efforts became particularly significant during the 2019 export restrictions imposed by Japan on key materials for South Korean semiconductor manufacturing. Lee spearheaded the domestic development of photoresist technology, which was deemed instrumental for the industry amid these restrictions.
His influence extended beyond the business domain; Lee also contributed to the advancement of the semiconductor industry through his leadership roles, having served as president of the Korean Society of Industrial Chemistry, the Korean Engineer Club, and the Korea Science and Technology Organizations Federation. His legacy is marked by his selection as one of '60 Engineers Who Raised Korea' by Seoul National University in 2006.
Lee was also committed to nurturing the next generation of scientists, providing scholarships and research funding, for which he received the 'Contribution Award for the Development of Seoul National University.' His contributions to advanced display materials included localizing photoresist for liquid crystal displays (LCDs), and he was honored with the Special Contribution Award from the Korean Display Industry Association in 2014.
He leaves behind his sons, Lee Joon-kyu and Lee Joon-hyuk, who are now at the helm of the company, with Joon-kyu managing the foaming agent division and Joon-hyuk overseeing overall company management. Lee Boo-seob also held 55.7% of the shares of Dongjin Holdings, the major shareholder of Dongjin Semichem with 32.49% of its shares.
A funeral gathering will be held at Yonsei University’s Shinchon Severance Hospital, with the funeral scheduled for March 1st, and the final resting place to be at the ancestral burial site located in Yangpyeong-gun, Gyeonggi Province.
Lee Boo-seob’s achievements resonate within the semiconductor industry, as his efforts have shaped South Korea's capabilities to become self-reliant and innovative within this high-tech sector. Industry experts now watch closely how his passing may impact Dongjin Semichem’s stock market performance and the broader dynamics of the semiconductor space.