Lee Jay-Hyun was born in Seoul, South Korea, South Korea, is CJ Corp. Lee Jay-Hyun is #1221 in List Billionaires People In The World. The eldest grandson of late Samsung founder Lee Byung-Chull, Lee Jay-Hyun inherited CJ Group, which officially separated from Samsung in 1997. Founded in 1953 as Cheil Jedang, the company began as a sugar mill and boosted domestic sugar production just after the end of the Korean War. Now a diversified conglomerate, it operates the country's largest food and beverage company, CJ Cheiljedang, famous for convenience items such as microwaveable rice. CJ Foodville runs Western-style family restaurants as well as bakeries, cafes and ice cream shops under various brand names. Other CJ interests include pharmaceuticals (antibiotics and vaccines) and bio products (animal feed and food additives). In 1995, CJ paid $300 million for an 11% stake in the Steven Spielberg production vehicle Dreamworks SKG. Its entertainment and media business, CJ E&M, is run by Lee's sister Lee Mi-Kyung, or Miky Lee, and encompasses film and music production, Internet services, cable TV-based home shopping, a national multiplex theater chain and m-net, a cable music channel. CJ Group's expansion has slowed in recent years due in part to a leadership vacuum. In 2014, Lee Jay-Hyun was convicted for misdeeds including embezzlement and tax evasion. It isn't clear if he spent any time behind bars, however; he claimed to be in poor health and had undergone surgery. In August 2016, he was pardoned by then-president Park Geun-hye.