The Samsung heiress has swiftly and aggressively expanded her $2.8 billion hotel and duty-free empire. In the former, her company has added seven business hotels—branded Shilla Stay—since January 2015. In the latter, she partnered with Hyundai Development Company to develop a pair of high-profile malls in Seoul, struck deals to open new outlets in Singapore, Thailand and Japan, and acquired a 44% stake in Miami-based DFASS, the leading in-flight duty-free retailer. But it hasn’t been a smooth ride: the emergence of the infectious disease MERS (Middle East Respiratory Syndrome) in Korea was a drag on tourism last year, and this year Chinese visitors are spending less. There is also some regulatory uncertainty around South Korea’s competitive duty-free industry that has weighed down the stock; Shilla has lost 43% of its market value over the past year. Lee is also a nonexecutive director for CITIC Group, China’s biggest brokerage firm.