150 Domestic 'Geumsujeo Shareholders' Under Age 10... Children Stock Millionaires Worth About 60 Billion KRW

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] It has been revealed that there are more than 150 special-related shareholders under the age of 10 who hold stocks of domestic listed companies. Among them, 30 shareholders hold stocks worth over 1 billion KRW.

According to FnGuide on the 24th, as of the 20th, there were a total of 151 shareholders under the age of 10 listed in the major shareholder special-related party equity disclosures of listed companies. This number increased by 21 from 130 at the end of 2019. Most of them received stocks as gifts from family and relatives, and some inherited them.

The average stock value per person was 870 million KRW, and 91 shareholders held stocks valued at over 100 million KRW. This means that 3 out of 5 are stock holders worth over 100 million KRW. In particular, 28 shareholders had an evaluated value exceeding 1 billion KRW.

The shareholder with the largest holding amount was Jeong Mo (8), the granddaughter of Jeong Ji-wan, chairman of semiconductor materials company Soulbrain Holdings. Jeong inherited her father's 2.41% stake in June last year. The value of her holdings was 60.2 billion KRW, making her the only shareholder under 10 years old holding over 10 billion KRW.

Excluding Jeong, the average holding amount per shareholder under 10 was calculated at 476 million KRW. Kang Mo (10) and Park Mo (10) from the Hana Pharmaceutical family had high equity values of 3.29 billion KRW each.

There were also three shareholders who became shareholders within less than a year after birth. The grandson of Eom Jeong-heon, chairman of Hanil Steel, was gifted 2.91% of the company’s shares immediately after birth. The evaluated value was 1.785 billion KRW.

At the end of last year, there were 130 shareholders under the age of 10. Their average holding amount was 410 million KRW, and 15 shareholders held over 1 billion KRW. Except for 30 of them, the equity value of 100 shareholders increased.

Heo Mo (7) of L&F saw his holdings increase from 330 million KRW at the end of last year to 1.39 billion KRW. This was due to the sharp rise in the stock price of L&F, a secondary battery-related company. L&F is led by Heo Je-hong, the great-grandson of the late Heo Man-jung, co-founder of LG Group.

Kim Mo (7) of Sanga Front Tech also increased from 390 million KRW to 1.29 billion KRW (a 227% increase). The stock price of Sanga Front Tech, a hydrogen car parts company, surged from 15,250 KRW to 49,900 KRW during the same period.