South Korean tycoons’ stock value falls

[THE INVESTOR] The majority of South Korean business tycoons saw a fall in the value of their stock assets this year, an analysis by a think tank showed on July 1.

According to the think tank specializing in Korea’s largest companies, the value of stocks held by 13 of 19 leaders of major businesses fell during the first half of this year.

The data showed that the value of 46 of 61 listed companies held by the 19 individuals fell between Jan. 4 and June 30. 

The combined value of their shares dropped from 41.37 trillion won (US$ 36 billion) at the beginning of the year to 38.78 trillion won by the end of last month, dropping 6.3 percent over the six-month period.

Samsung Electronics vice chairman Lee Jae-yong saw the largest fall in value, losing 1.3 trillion won due mainly to Samsung SDS shares nose-diving by 42.7 percent during the period.

SK Group’s Chey Tae-won andCJ Group’s Lee Jay-hyun saw their value drop by about 500 billion won, while Lotte Group’s Shin Kyuk-ho and Shin Dong-bin respectively lost 217.3 billion won and 401.4 billion won.

However, Samsung Electronics chairman Lee Kun-hee ’s stock value rose 757.1 billion won buoyed by Samsung Electronics’ 18.3 percent appreciation over the six-month period.

Chung Mong-joon, former lawmaker and largest shareholder of Hyundai Heavy Industries, saw his value rise 154.3 billion won.

By value of stock assets, Lee Kun-hee was ranked top with 11.99 trillion won followed by his son Lee Jae-yong with 6.29 trillion won.

Hyundai Motor Group chairman Chung Mong-koo’s stocks were valued at 4.4 trillion won.

SK Group’s Chey Tae-won ranked fourth with 3.34 trillion won, followed by Lee Jay-hyun of CJ Group with 2.57 trillion won and Hyundai Motor vice chairman Chung Eui-sun with 2.56 trillion won.

By Choi He-suk (cheesuk@heraldcorp.com)