SK Biopharm Employees' Evaluation Gains Equivalent to 'One Seoul Apartment'... Average 1.4 Billion KRW

The SK Biopharm KOSPI listing ceremony is being held on the 2nd at the Korea Exchange in Yeouido, Seoul. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Kum Bo-ryeong] SK Biopharm's stock price hit the upper limit for two consecutive days after its listing, resulting in employees who received employee stock ownership averaging about 1.4 billion KRW in unrealized gains per person. This amount is roughly equivalent to the price of an apartment in Seoul.

At 10:50 a.m. on the 3rd, SK Biopharm recorded 165,000 KRW, up 29.92% (38,000 KRW) from the previous close.

According to SK Biopharm's securities issuance performance report, the total employee stock ownership volume is 2,446,931 shares. Considering there are 207 executives and employees as of the end of April, including 6 executives and 201 employees, each person received an average of 11,821 shares. Calculated at the public offering price, this amounts to an average of 580 million KRW per person.

Based on the stock price on this day, the stock valuation per person is approximately 1.95 billion KRW. The unrealized gain alone reaches 1.37 billion KRW.

The allocated volume varies by rank, with team leaders reportedly receiving more than 20,000 shares. Calculated at 20,000 shares, the stock valuation for a team leader is about 3.3 billion KRW. The unrealized gain is 2.32 billion KRW. This amount is enough to purchase an apartment in the Gangnam area of Seoul.

However, the employee stock ownership shares are locked under a one-year lock-up period after listing. Therefore, employees cannot realize the gains immediately.

SK Biopharm was listed on the 2nd, the day before. The opening price was twice the public offering price of 49,000 KRW, and immediately after listing, the stock hit the upper limit, achieving the so-called 'ttasang' (first-day double limit up).