Who Are the Teenage Stock Millionaires with 89 Billion Won?

Not on KOSPI but on KOSDAQ... Classys CEO's Child

[Asia Economy Reporter Hyunseok Yoo] Among teenagers, the wealthiest stock owners were not from KOSPI but the children of major shareholders of KOSDAQ-listed companies.

On the 22nd, Asia Economy analyzed shareholders under 20 years old of listed companies and found that the individuals with the highest equity valuation were Seokwon (16) and Seoyun (14), children of Jung Sungjae, CEO of Classys. Both hold 8.50% (5,497,307 shares) of Classys. Their valuations are 89.05637 billion KRW each (as of the 21st). This is a 25.58% increase compared to 70.91526 billion KRW on May 21 last year. According to the 2016 audit report, Seokwon and Seoyun each held 100,000 shares (10%) of Classys, but after a SPAC merger, the number of shares increased to 5,497,307 (9.09%). Subsequently, due to convertible bond (CB) conversions and stock option exercises, the total issued shares increased, lowering their stake to 8.50%.

Classys was established on January 10, 2007. It is a beauty medical device company listed on KOSDAQ after merging with KTB Special Purpose Acquisition Company No. 2 on December 28, 2017. Classys’ flagship product is Shurink. This product uses ultrasound to induce collagen regeneration, improving skin elasticity. After appearing on a web entertainment program in 2018, Shurink became popular, driving Classys’ performance improvement and leading to a rise in stock price. Since the beginning of this month, Classys’ stock price has risen from the 11,000 KRW range to the 16,000 KRW range.

Following Seokwon and Seoyun, the teenager with the next highest equity valuation is Heo Seokhong (19), son of Heo Yongsoo, CEO of GS Energy. He holds 1,005,341 shares (1.08%) of GS. The stock valuation is 38.8616 billion KRW. However, due to a stock price decline, his equity value decreased by 18.06% compared to a year ago. Fourth place is Jo Tori (17), a relative of Jo Seongah, CEO of CSA Cosmic. She holds 6,519,049 shares (17.58%) of CSA Cosmic, valued at 27.18443 billion KRW. Fifth place is Heo Jeonghong (16), the second son of CEO Heo, holding 621,000 shares (0.67%) of GS, with a stock valuation of 23.9706 billion KRW.

From sixth to twelfth place, the list is dominated by grandchildren of Lim Sungki, chairman of Hanmi Pharmaceutical. The grandchild with the largest stake, Lim Seongyeon (17), holds 712,230 shares (1.08%) of Hanmi Science, valued at 20.51222 billion KRW, ranking sixth. The other six grandchildren?Kim Wonse (16), Lim Seongji (14), Kim Jiwoo (13), Lim Huyeon (12), Lim Yoonji (12), and Lim Seonga (12)?each hold 695,684 shares (1.05%), with valuations of 20.03569 billion KRW each. However, their stock valuations have dropped to about half of last year’s level due to a decline in Hanmi Science’s stock price.