Who are South Korea’s 5 richest billionaires?
Unsurprisingly Samsung Group’s chairman Lee Kun-hee tops the list, but who are the other four South Korean billionaires?
South Korea has its fair share of billionaires. Earlier this year, Business Insider reported South Korea ranked in the top 10 of places with the most billionaires in the world. It’s ahead of its Asian neighbours, Japan and Taiwan, and Switzerland and France in the West; and behind China, India and Hong Kong, as well as Western nations such as the US, UK, Russia and Germany. The number of billionaires tallies around 45; here we take a look at the top five richest South Koreans shaping the country’s economic landscape according to Forbes’ Korea’s 50 Richest People list.
Lee Kun-hee
Net worth: US$16.4 billion*
The chairman of Korea’s largest conglomerate, Samsung Group, is the country’s richest man according to the Forbes 2019 Korea’s Richest People list. Since the unveiling of the list, Lee’s net worth, at US$16.8 billion, has since dropped because of the economic climate of late. Lee is the third son of Samsung founder, Lee Byung-chull, who himself was the son of a wealthy landowner who started a trading company almost four decades ago. He took over the business in 1987 soon after his father’s death and expanded the business to its current glory. His wealth includes that of his wife, Hong Ra-hee, who is the daughter of a media tycoon in Korea. Aside from electronics, The Samsung Group’s business portfolio also comprises theme parks, IT services, insurance and fashion.
Seo Jung-jin
Net worth: US$8.2 billion*
In less than 20 years, the CEO of biopharmaceutical company Celltrion, who co-founded the business in 2002 and publicly listed it in 2008, has become South Korea’s second richest man. The company develops biosimilars and drugs in treatment of – among other things – cancer, influenza and rheumatoid arthritis. It received FDA approval for its biosimilar Herzuma – a treatment for breast cancer – in partnership with Teva. Biosimilars are popular among investors in South Korea, and Celltrion remains one of the most favoured companies for investment.
Kim Jung-ju