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Samsung chief was wealthiest man in S. Korea

/ 05:03 PM October 25, 2020
Samsung Chairman Lee Kun-hee

Yonhap via The Korea Herald/Asia News Network

SEOUL — Lee Kun-hee, the late chief of South Korea’s top conglomerate Samsung Group, was the wealthiest man in the country, data showed Sunday.

The total value of stocks held by Lee, who died at a Seoul hospital after being bedridden following a heart attack in 2014, stood at 18.2 trillion won ($16.1 billion) as of Friday, according to the Korea Exchange data.

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By company, Lee held a 4.18 percent stake in the conglomerate’s crown jewel, Samsung Electronics Co., worth 15 trillion won, 20.76 percent in Samsung Life Insurance Co. valued at 2.6 trillion won, 2.88 percent in construction company Samsung C&T Corp. worth 564.3 billion won, 0.08 percent in preferred shares of Samsung Electronics worth 33 billion won and 0.01 percent in Samsung SDS Co. worth 1.7 billion won.

The total value outshines that of his son and Samsung Electronics Vice Chairman and the group heir Lee Jae-yong, who holds the title as the second-richest man in the country, worth about 7.2 trillion won.

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The late Lee’s stock value trumps those of other conglomerate chiefs in the country, including Celltrion Group Chairman Seo Jung-jin at 4.49 trillion won, Hyundai Motor Group Honorary Chairman Chung Mong-koo at 4.47 trillion won and SK Group Chairman Chey Tae-won at 2.6 trillion won.

Lee was also one of the wealthiest people in the world, with Forbes estimating his net worth at $20.9 billion, putting him at the 67th spot on the publication’s list of billionaires.

The late Samsung Electronics chairman was the only South Korean included on Forbes’ current list of the top 100 billionaires. Yonhap

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TAGS: Business, death, obituary, Samsung Chairman Lee Kun-hee
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