Celltrion chief becomes 10th most stock rich
The head of Celltrion, a Korean biopharmaceutical firm, became the country’s 10th richest stock holder as of end-July, data showed Sunday, becoming the second self-made figure to be included in the top 10 bracket.
According to data compiled by Chaebul.com, Seo Jung-jin, the company’s president, held shares worth 2.4 trillion won ($2.13 billion) as of Friday, after Celltrion Healthcare went public on the country’s secondary KOSDAQ market.
While Seo does not directly hold shares in Celltrion, he still holds a 36.2 percent stake in Celltrion Healthcare, along with a 93.9 percent stake in Celltrion Holdings.
Celltrion and Celltrion Healthcare stand as the top two players in terms of market cap on the tech-heavy KOSDAQ.
Celltrion Healthcare was listed on the market for the first time Friday.
Seo is the second self-made figure to be included on the list, along with Bang Joon-hyuk, the head of Netmarble Games, who is ranked in sixth place with shares worth 3.2 trillion won.
Others on the list are from owner families of Korean conglomerates.
Lee Kun-hee, the head of Samsung Electronics, remained the richest.
He stood in the top spot with shares worth 17.9 trillion won, followed by his heir apparent and only son Lee Jae-yong with 7.8 trillion won.
Suh Kyung-bae, chief of South Korea’s top cosmetics maker AmorePacific, followed with 7.4 trillion won, trailed by Chung Mong-koo, chairman of Hyundai Motor Group, with 4.8 trillion won.
Chey Tae-won, the head of No. 3 conglomerate SK Group, held shares worth 4.3 trillion won, the data also showed.
More than half of Korea’s top stock wealthy have become rich from inheritance, a phenomenon more stark than in the United States, Japan and China, an analysis by a corporate watcher showed.
Inheritance is more prominent among Korea’s rich.