Cell­trion chief be­comes 10th most stock rich

The Korea Times - - BUSINESS -

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.

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