A jolting tumble in South Korean stocks in the first two trading days of the year has wiped out nearly 1.1 trillion won ($1 billion) in the value of stocks owned by chiefs of top 10 business groups, according to the data compiled by Chaebul.com, a chaebol research firm.

The combined value of stocks held by the top 10 chiefs, including Lee Kun-hee of Samsung Group, reached 26.29 trillion won at the market closing on Jan. 3, down 4.2 percent from 27.44 trillion won on Dec. 30, the last session of 2013.

Samsung Group chairman suffered the biggest drop in the stock value, which fell 4.7 percent to 53.12 billion won, as shares of Samsung Group’s affiliates were pummeled by foreign selling sprees during the first two sessions of 2014.

Shares of Samsung Electronics, the group’s flagship company, lost 5.5 percent to 1,296,000 won from 1,372,000 won at the last session of 2013, with those of Samsung Life Insurance losing 3.4 percent to 104,000 won from 105,000 won.

Hyundai Motor Group chairman Chung Mong-koo saw the value of his share holdings fall 4.5 percent to 6.62 trillion won during the same period. (Yonhap news)