Eight out of Ten Chaebols Increased Stock Wealth in Q1... Lee Jae-yong Included in the '10 Trillion Club'

CXO Research Institute Q1 Survey on Stock Valuation of 33 Group Heads
80% of 33 Heads Saw Stock Value Increase...Contrast to Last Year's -60%
Kim Hong-guk Harim Chairman Up 117%...Choi Tae-won SK Chairman Down 6.7%

The total stock value of the heads of 33 domestic groups increased by more than 3 trillion won in the first quarter alone. Eight out of ten saw an increase in their stock valuation. Samsung Electronics Chairman Lee Jae-yong was the only one to join the '10 trillion won club.' Harim Chairman Kim Hong-guk's stock wealth more than doubled.

Samsung Electronics Chairman Lee Jae-yong encouraging the Korean team at the closing ceremony of the 2022 International Skills Olympics Special Competition held on October 17 last year at KINTEX in Goyang-si, Gyeonggi-do.
[Photo by Yonhap News]

Korea CXO Research Institute, a corporate analysis specialist, released data on the 'First Quarter Major Group Heads' Stock Valuation Changes' on the 13th. The survey covered 33 group heads whose stock valuation exceeded 100 billion won as of the end of last month, among the large business groups designated by the Fair Trade Commission last year. The study examined cases where the head held shares in listed companies, indirectly held more than 50% of the listed affiliates through unlisted companies, and the status of preferred stock holdings. Cho Hyun-bum, Chairman of Hankook Tire & Technology, was included in the survey as he effectively leads the group, although he is not the official head.

The survey results showed that the total stock valuation of the 33 group heads increased by 7.2%, from 46.4475 trillion won in early January to 49.8096 trillion won at the end of last month. This contrasts with a 7.5% decrease in the first quarter of last year. Twenty-seven group heads saw an increase in their stock wealth in the first quarter, double the 13 from last year.

Chairman Kim Hong-guk of Harim Group. / Photo by Moon Ho-nam munonam@

The highest growth rate was recorded by Harim Chairman Kim Hong-guk. The stock valuation of Harim Holdings, Harim, and Farmsco held by Chairman Kim reached 383.2 billion won at the end of last month, up 117.1% from 176.5 billion won in early January. This was influenced by the increase in the stock value per common share of Harim Holdings from 7,310 won to 10,603 won, a 45% rise.

Following him were Kim Ik-rae, Chairman of Daou Kiwoom (49.9%), Kim Joon-ki, Founding Chairman of DB (39.9%), Lee Woo-hyun, Vice Chairman of OCI (31%), and Cho Won-tae, Chairman of Hanjin (28.5%).

The largest increase in amount was by Kim Beom-su, Head of Kakao Future Initiative Center, whose stock wealth rose from 5.6 trillion won at the beginning of the year to 6.5 trillion won at the end of last month, an increase of about 900 billion won.

Choi Tae-won, Chairman of SK Group. [Photo by Yonhap News]

The largest decrease rate was recorded by SK Chairman Chey Tae-won. His stock valuation fell 6.7%, from 2.4022 trillion won at the beginning of the year to 2.2401 trillion won at the end of last month. This was due to the stock value per share of SK Co., Ltd. dropping from 185,000 won to 172,500 won. Stock wealth also decreased for Lotte Chairman Shin Dong-bin (-6.6%), Hankook Tire Chairman Cho Hyun-bum (-4.9%), former Taekwang Chairman Lee Ho-jin (-1.9%), and Hyundai Department Store Chairman Chung Ji-sun (-1.8%).

Among the 33 heads, Lee Jae-yong was the only one to join the 10 trillion won club, ranking first with stock wealth of 12.1497 trillion won. Following him were Seo Jung-jin, Co-Chairman of Celltrion (7.9832 trillion won), and Kim Beom-su, Head of Kakao Center (6.5005 trillion won).

There were 11 members in the 1 trillion won club: Chairman Lee Jae-yong, Chairman Seo Jung-jin, Head Kim Beom-su, Hyundai Motor Chairman Chung Eui-sun (3.1169 trillion won), Amorepacific Chairman Seo Kyung-bae (2.608 trillion won), SK Chairman Chey Tae-won (2.2401 trillion won), LG Chairman Koo Kwang-mo (2.078 trillion won), Netmarble Chairman Bang Jun-hyuk (1.3743 trillion won), CJ Chairman Lee Jae-hyun (1.3397 trillion won), Naver Global Investment Officer Lee Hae-jin (GIO, 1.2382 trillion won), and Asan Foundation Chairman Chung Mong-joon (1.2207 trillion won).

The top stock price increase rates by company were Harim Holdings (119.3%), DB Inc. (111.9%), DB HiTek (97.5%), Galaxia SM (53.3%), and Daou Data (53%).

Oh Il-seon, Director of CXO Research Institute, said, "The stock market fell sharply last year and is gradually recovering this year. Depending on the real economy's flow this year, the stock market may experience some volatility."