Lee received acting recognition for his subsequent films, including three Best Actor awards from the Grand Bell Awards for Lost Love (also known as In the Name of Memory, 1989), Fly High Run Far (1991), and I Will Survive (1993). Lee also became the first Korean actor to win an award at an international film festival in 1993 when he was chosen as Best Actor at the Moscow International Film Festival for I Will Survive.

On the small screen, Lee won the prestigious Daesang (or “Grand Prize”) for the contemporary drama Love and Ambition (1987) and period epic Han Myung-hoe (1994). The latter is among the many real-life historical figures that Lee has played in his prolific career, including Joseon prime minister Han Myung-hoe in Han Myung-hoe (1994), Goryeo military dictator Yi Ui-min in Age of Warriors (2003), Tang Dynasty general Xue Rengui in Dae Jo Yeong (2006), Goryeo military commander Gang Gam-chan in Empress Cheonchu (2009), and King Dongmyeong of Goguryeo in The King of Legend (2010).