Samsung tycoon tops stock-rich list in South Korea

Samsung Electronics Vice Chairman Lee Jae-yong stayed atop the stock-rich checklist of South Korea as of the top of June. Photograph courtesy of Samsung Electronics

Lee, the de-facto proprietor of Samsung Group, holds a 1.63% share in Samsung Electronics, 10.44% in Samsung Life Insurance coverage and 18.13% in Samsung C&T.

Samsung Electronics is the world’s largest maker of reminiscence chips and smartphones. Samsung Life Insurance coverage is South Korea’s high insurer, and Samsung C&T is the nation’s main contractor.

Their share costs plunged this yr resulting from issues about inflationary pressures and the resultant financial downturn.

Celltrion honorary Chairman Web optimization Jung-jin got here in second on the inventory checklist, with holdings price $6.95 billion, adopted by Kakao founder Kim Beom-soo with $5.71 billion, Hyundai Motor Chairman Chung Eui-sun with $2.47 billion and SK Group Chairman Chey Tae-won with $2.14 billion.

All of their share values went down this yr because of the bearish inventory market. The nation’s benchmark KOSPI plummeted greater than 20% through the first six months of 2022.

Specifically, Kim suffered essentially the most within the inventory market as his share worth decreased by 39% within the first half. Kakao is one in all Korea’s major Web firms.

“The inventory market is predicted to stay weak through the the rest of this yr, and the rankings of the stock-rich checklist would change rather a lot,” CXO Analysis Institute chief Oh Il-sun instructed UPI Information Korea.

“Nonetheless, Samsung Vice Chairman Lee’s high place shouldn’t be prone to be challenged. The following positions of Celltrion honorary Chairman Web optimization and Kakao founder Kim should not safe,” he stated.