BUSINESS

Young chaebol scions own W1.8tr worth of stocks: data

By Jie Ye-eun
  • Published : Nov 11, 2019 - 15:19
  • Updated : Nov 11, 2019 - 15:19

Among South Korea’s chaebol owner family members, 51 are aged 30 or younger and also own stocks worth 10 billion won ($8.6 million), industry data showed Monday.

According to conglomerate tracker Chaebul.com, the total value of such stocks amounted to over 1.8 trillion won, with the per capita average of 36.8 billion won, as of the closing price Wednesday.


An aerial view of Yeouido, South Korea’s financial district in western Seoul. (Yonhap)

Compared to the previous survey in January 2017, the number of young superrich dropped by one while the aggregated value of their assets climbed over 150 billion won.

By groups, those aged between 25 and 30 accounted for 49 percent, followed by the 21-24 age bracket with 21.57 percent. The 11-15 and 16-20 age groups, were next with 17.65 percent and 11.76 percent, respectively.

Topping the list was Suh Min-jung, daughter of cosmetics retail giant Amorepacific Chairman Suh Kyung-bae, who held more than 210 billion won worth of stocks.

 
Suh Min-jung, the 28-year-old daughter of Amorepacific Group Chairman Suh Kyung-bae. (Amorepacific Group)

According to DART -- the Financial Supervisory Service’s electronic disclosure board -- the 28-year-old has 2,412,710 shares of common stock, amounting to 2.93 percent stake in the group’s holding firm. Suh also has a 0.28 percent stake in Nongshim with 13,201 shares.

In addition, she holds stocks of the group’s unlisted subsidiaries -- Espoir, Etude House and Innisfree -- with respective stakes standing at 19.52 percent, 19.52 percent and 18.18 percent.

The youngest on the list were Hanmi Pharmaceutical Chairman Lim Sung-ki’s seven grandchildren. The children, aged between 11-16, have Hanmi Science’s stocks worth nearly 30 billion won each.

By Jie Ye-eun (yeeun@heraldcorp.com)


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