Hyundai chair’s stockholdings shed value, but he maintains No. 1 spot
Hyundai-Kia Automotive Group Chairman Chung Mong-koo maintained the No. 1 spot as the richest stockholder this year among Korean owners of family-run industrial conglomerates, or chaebeol. According to the Korea Exchange on December 18, Chung owned 2.05 trillion won worth (US$2.2 billion) of shares as of December 13. Chung’s equity value fell by 23.7 percent, or 637.7 billion won, this year, as shares of Hyundai Motor and Glovis slipped by 32.5 and 51.9 percent, respectively. Samsung Group Chairman Lee Kun-hee came in second with equity valued at 1.74 trillion won. Lee also saw his equity fall, by 9.7 percent, or 186.8 billion won, as Samsung Electronics shares declined 8.7 percent. GS Group Chairman Huh Chang-su was third, with stocks worth 672.5 billion won, followed by Hanwha Group Chairman Kim Seung-youn (606.3 billion won) and LG Group Chairman Koo Bon-moo (540.5 billion won).Rounding out the top 10 list of chaebeol owners are: Lotte Group Chairman Shin Kyuk-ho (506 billion won), Hanjin Group Chairman Cho Yang-ho (261.7 billion won), SK Group Chairman Choe Tae-won (132.9 billion won), Kumho-Asiana Group Chairman Park Sam-koo (64.7 billion won), and former chairman of Doosan Group Park Yong-gon (46 billion won). In total, owners of the top 10 conglomerates hold shares worth 6.62 trillion won this year, down 5.9 percent from the end of last year. Please direct questions or comments to [englishhani@hani.co.kr]
