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Biz News Korea(Eng)

Stock value of S. Korean rich largely increases

Collected: 2016.08.14

Distributed: 2016.08.16

Source: Go Direct

With South Korea’s main bourse Korean Composite Stock Price Index (Kospi) hitting a record high in the year, the Korean rich with stocks have seen their wealth snowball.

According to Chaebul.com on Sunday, as of Friday, the number of the rich with stocks worth more than 1 trillion won ($905 million) were 24 including Samsung Electronics Co. Chairman Lee Kun-hee.

The stocks they own were worth 67.14 trillion won in total, up 354.1 billion won, or 0.5 percent, from January this year.

Shares owned by Lee Kun-hee were valued at 12 67 trillion won, up 1.47 trillion won, or 13.1 percent.

Stocks held by Hanmi Pharmaceutical Co. chairman Lim Sung-gi also rose 206.8 billion won, or 7.6 percent, from early this year to 2.91 trillion won. Shares of BGF Retail Chairman Hong Suk-jo gained 375 billion won, or 25.5 percent, to 1.84 trillion won.

Stocks of Lee Hae-jin, board chairman of Naver Corp., increased 230.6 billion won, or 23.6 percent, to 1.21 trillion won. Those of Hankook Tire Chairman Cho Yang-Rai amounted to 1.12 trillion won, up 140.4 billion won, or 14.3 percent.

Thanks to stock price rally of Hyundai Heavy Industries Co., stocks of Chung Mong-joon, chairman of Asan Foundation, rose to 1.08 trillion won from 659.9 billion won.

By Yong Hwan-jin

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