May 20, 2015 09:40
Amore Pacific chairman Suh Kyung-bae's stock holdings have seen the second fastest increase in value in the world this year, according to Forbes.
The cosmetics tycoon is well on his way to catching up with Samsung chairman Lee Kun-hee, the richest man in Korea.
Suh's stocks were valued at W11.54 trillion as of Monday, up a whopping 93 percent from W6.7 trillion on Jan. 2 (US$1=W1,091). The surge is largely due to brisk sales in China.
Their value swelled by nearly W1 trillion a month, sending his ranking among the world's richest people from 185th early this year to 122nd.
Suh has already outpaced Samsung heir Lee Jae-yong and closed the gap with Lee Kun-hee from W6.2 trillion early this year to W700 billion. He is also well ahead of Hyundai Automotive Group chairman Chung Mong-koo (W5.16 trillion)
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