Popular K-pop boy band Big Bang is set to join the elite superrich club with an estimated total net worth of 40 billion won ($33.2 million). Moreover, it’s leader G-Dragon, also known as Kwon Ji-yong, has a personal net worth of 15 billion won.Big Bang (YG Entertainment)Confirming Big Bang’s road to success, the quintet’s LA concert at the Staples Center during their world tour last year was selected by Billboard as one of the top 10 grossing concerts in the world, earning a total of 2.1 billion

Ending a long-drawn dramatic episode that captivated the nation, Lee Boo-jin, the eldest daughter of Samsung Group chairman Lee Kun-hee, legally ended her 17-year marriage Thursday.　According to Samsung officials, the Seongnam branch of the Suwon District Court ruled in favor of the 46-year-old chaebol scion who filed for divorce from her husband Lim Woo-jae in October 2014. 　 Lee Boo-jin YonhapLee, who heads Samsung affiliate Hotel Shilla, had reportedly fallen out with her 48-year-old husband

Ulleung County head Choi Soo-il (right) speaks in an interview with The Korea Herald. (Ulleung County)Ulleung County head Choi Soo-il vowed to boost the local economy’s growth by pushing aggressively for major infrastructure and revitalizing the tourism industry.He said his county will focus on building an airport on the island county, building more residential homes and renovating major roads.Ulleung County, North Gyeongsang Province, has 43 islands including the easternmost islands Ulleungdo a

Many superrich like Jeff Bezos, Larry Page, Sergey Brin and Mark Zuckerberg had a prosperous 2015, with combined earnings of $58.8 billion -- more than the value of Korea’s exports to the U.S. in 2011.However, not all superrich were as successful. Many of them had a rough year, losing money in investments and other endeavors.Dov Charney founded clothing brand American Apparel in 1989 and raised his assets up to $550 million in 2007.Dov Charney (American Apparel website)Charney now has a little o

SK Group chairman Chey Tae-won’s daughter Chey Yun-jeong, AmorePacific Group chairman Suh Kyung-bae’s daughter Suh Min-jung and LF president & CEO Koo Bon-keul’s niece Koo Min-jeong have a striking similarity.The three women are all next-generation chaebol heiresses currently working as junior consultants at the Korean subsidiary of global consulting firm Bain & Company.They did not enter their family business after graduating, instead choosing to work at a consulting firm to gain experience and

There are more successful female entrepreneurs in Asia than in Western Europe and North America, according to new research from HSBC and market research firm Scorpio Partnership.The study, found that 51 per cent of female entrepreneurs surveyed in Asia have a net worth of more than $15 million, compared with 33 per cent surveyed in the West.The research is based on interviews with more than 2,800 business owners with a personal wealth of more than $1 million. It found that 40 per cent of entrepr

There is an old saying that a wealthy family loses all its fortune by the third generation. It is difficult to determine whether the saying holds true for the Korean chaebol, as many are still controlled by their second generation, with some not even setting the next succession process in motion. However, the third generation chaebol scions own incredible amounts of assets, usually in the form of stocks. The Superrich Team looked into the assets of third-generation descendants, including those i

AmorePacific chairman Suh Kyung-bae is wrapping up another record year as his business and fortune continues to grow at an explosive pace.The country’s largest beauty products-maker, which has global brands such as Sulwhasoo and Laneige under its wing, is expected to post over $200 million in exports this year, the first time for a local cosmetics producer, according to the firm. AmorePacific chairman Seo Kyung-baeReceiving credit for this achievement, the chairman, who has turned his family’s c

AmorePacific chairman Suh Kyung-bae was selected as Forbes Asia’s 2015 Businessman of the Year on Thursday.In its latest issue released on Thursday, the magazine explained that Suh inherited his father’s company in 1997 and sold off affiliates unrelated to cosmetics, expanding the highly local Korean cosmetics industry overseas.It also added that the company, which owns around 20 major brands available in 14 countries, “is winning the hearts of China’s middle-class shoppers.”Suh Kyung-baeThe mag

The Hyundai family was once again in the spotlight on Nov. 25, on what would have been the 100th birthday of late founder Chung Ju-yung.Tycoon Chung founded the first company of what would become Hyundai Group in 1946, starting off in the construction sector and then expanding to automobiles, steel, shipping and more, setting the foundation for Korea’s rise as an industrial powerhouse.A recent public survey selected him as the most respected Korean entrepreneur, and Chung’s children have also he

Doosan Group heir Park Seo-won has finally emerged as a likely successor of the country’s 14th-largest business conglomerate, having recently joined the company’s most important project in years. The group said that Park was appointed to senior vice president of Doosan Corporation on Nov. 23, and will overlook marketing as well as other strategies of its duty-free operations. Park -- who already leads Doosan’s advertising agency Oricom and independent creative consulting firm Big Ant -- will spl

The relationship between new start-ups and their venture capital investors is a bit like a marriage: The start-up founder and investors hold a contractual ceremony, then need to uphold the terms and conditions and coexist together.In the tech sector, especially in Silicon Valley in California, many successful start-ups are the results of such unions between start-up founders and venture capital investors of Korean descent. This coexistence has resulted in the birth of a new breed of superrich.A

Aekyung Group’s low-cost carrier Jeju Air went public on Nov. 6, 10 years after its establishment, increasing the assets of the the midsize retailer and household goods conglomerate’s controlling family.Jeju Air debuted on the nation’s main bourse KOSPI at 48,100 won ($41.16) per share.Affiliates of Aekyung Group own a combined stake of 67.5 percent in Jeju Air -- with AK Holdings having 57.2 percent and Aekyung Co. 10.26 percent.As regards AK Holdings, group family members and its affiliates co

There is a new entrant in the ranks of Korean superrich.Hanmi Pharmaceutical founder and chairman Lim Sung-ki became a prominent superrich as the company signed licensing agreements with several global pharmaceutical companies this year, including Belgium-based Janssen Pharmaceutica and France-based Sanofi.The multibillion-dollar licensing agreements caused the shares of Hanmi Pharmaceutical and its parent company Hanmi Science to skyrocket. Stocks of Hanmi Pharmaceutical closed at 755,000 won (

Shinsegae chairwoman Lee Myung-hee Shinsegae vice chairman Chung Yong-jinShinsegae Group, the country’s second-largest retailer, declared Friday its founder and chairwoman Lee Myung-hee owned 380,000 company shares worth around 80 billion won ($69 million) under borrowed names and that she would convert them to her own name on the day.  The problematic stocks were 258,449 shares of large discount store chain E-mart, 91,296 shares of Shinsegae and 29,938 shares of Shinsegae Food, which were techn