9 Trillionaires Are Korea's Richest Shareholders

      July 02, 2009 08:00

      Nine super-rich shareholders in Korea hold stocks valued at more than W1 trillion each (US$1=W1,268). The number jumped from five late last year to nine as stock prices, which plummeted since last September, rebounded this year.

      There were few surprises at the top. Business website Chaebul.com on Wednesday said the richest Korean shareholder is former Samsung Group chairman Lee Kun-hee based on closing stock prices on Tuesday. His stocks were valued at W3.125 trillion. He is followed by Hyundai-Kia chairman Chung Mong-koo, (W3.095 trillion) and Shinsegae Group chairwoman Lee Myung-hee, (W1.653 trillion) who is Lee Kun-hee's younger sister.

      Next was Grand National Party lawmaker Chung Mong-joon, the largest shareholder of Hyundai Heavy Industries (W1.638 trillion), Lotte Group executive vice chairman Shin Dong-bin (W1.239 trillion), Lotte Japan vice president Shin Dong-joo (W1.194 trillion), and LG Group chairman Koo Bon-moo (W1.132 trillion).

      Chung Eui-sun, president of Kia Motors (left) and Kim Taek-jin, president of NCsoft

      Newcomers were Chung Eui-sun, president of Kia Motors, and Kim Taek-jin, president of NCsoft, with W1.103 trillion and W1.026 trillion respectively. Kim's stocks were valued at less than W300 billion until late last year, but with new online game Aion launched by NCsoft early this year gaining popularity in China, the company's stock price has more than tripled. Kim was the only self-made businessman to hold stocks worth more than W1 trillion.

      The number of shareholders with stocks valued at more than W100 billion each also increased by 19.4 percent, bringing their number to 111.

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