Aug. 13, 2014, was a historic day for AmorePacific Group chairman Suh Kyung-bae. The stock price of the nation’s top cosmetics brand closed at 2,068,000 won ($2,000) for the first time in its history, becoming a so-called golden stock by surpassing the 2 million won mark.The surge of AmorePacific shares made Suh the third-richest person in the country, behind Samsung Group chairman Lee Kun-hee and Hyundai Motor Group chairman Chung Mong-koo. Suh owns 626,445 common stocks of AmorePacific, a 10.7

South Korean companies and people have long compared themselves to Japanese counterparts to measure their success. But things have changed in the past few years as the number of Korean success figures has overtaken that of Japan. Forbes put 26 Korean and 25 Japanese billionaires on its list of the world’s 1,000 wealthiest people on Aug. 15.While it demonstrates the growth of the Korean economy, the higher number doesn’t equate to more wealth. Korea narrowly has more people on the list, but the c

Korea’s superrich take over universities for investment, charity and tax cuts

Conglomerate chiefs chase lifelong dreams

Nation’s top stockholders can buy out entire apartment complexes

Executives of global tech giants are rapidly abandoning their strict dress code for more casual, trendier apparel as a means of conveying a more modern and creative message to the public.One such man is Lee Jay-yong, vice chairman of Samsung Electronics. He dresses mostly in casual business attire that comes from mid- to low-priced brands. The reason he does this is to emphasize his Galaxy accessories, which go well with perfectly pressed suits, but stand out more when matched with less-restrict

Heirs compete to snap up stocks on slow business, lack of founder’s approval

Now that the World Cup craze has subsided, it is officially time for baseball. The Korea Baseball Organization league has just stepped into the second half of its season, and some of the country’s top conglomerates are biting their nails over the rankings. This is mainly because business tycoons dominate baseball teams here. Among the nine KBO league teams, all except for the Nexen Heroes are owned by corporate figures. The wealthiest owner of the bunch is KIA Tigers owner and Hyundai Automotive

The word “fashion” in French connotes high society. Although the word is now more commonly taken to mean “a widely popular style,” its upper-class associations are what the public yearned for when it first came into use. People still want to imitate the lifestyle of the upper class, and in some societies, the upper class is royalty. For instance, in Europe, where there are still princes and princesses, the starstruck public is frantic to keep up with each and every detail of the fashions of roya

Hyundai Motor Group heir-apparent Chung Eui-sun’s stock isolation complicates succession

The mild climate, averaging 28 degrees, and the endless beaches full of well-sculpted bodies frolicking under the sun have long made Hawaii a paradise where many go for a respite. Wealthy, high-profile figures from all over the world including former U.S. President George Bush, actor Al Pacino and singer Katy Perry have chosen to enjoy time off vacationing at homes they purchased in Hawaii. Korean business tycoons also seem to have fallen in love with the Polynesian island ― which coincidentally

Top business tycoons enjoy humble dishes that take them down memory lane

Corporate figures still hold key roles in sports organizations

Chaebol CEOs appear to be avid promoters of SNS but are shy about logging in

When Hanwha Chemical’s profit swung into the black for the first time in more than three years on May 14, market insiders picked Hanwha Q Cell marketing and strategy director Kim Dong-kwan as the main contributor. Hanwha’s energy unit reported 83 billion won ($81 million) in operating profit for the first quarter of 2014. This marked the first surplus since Hanwha jumped into the solar power business in August 2010 after acquiring Chinese company SolarOne. The heir-apparent of the nation’s ninth