Samsung Chairman Lee Hits 50 Trillion Won in Stocks

Korea CXO Institute Values Lee Holdings at 51 Trillion Won on May 11

Samsung Electronics Chairman Jay Y. Lee (provided by Samsung Electronics)

Samsung Electronics Chairman Jay Y. Lee’s stock holdings have entered the 50 trillion won mark for the first time ever, helped by a sharp rise in the KOSPI index. The combined stock wealth of four members of the Samsung controlling family, including Lee, also exceeded 100 trillion won, setting a new record in the domestic capital market.

The Korea CXO Institute, a corporate analysis firm, said Lee’s stock holdings were valued at 51 trillion 6,593 hundred million won ($37.86 billion) as of on May 11. This came as the KOSPI index climbed past the 7,900 level, an all-time high, and approached the 8,000 mark, driving steep gains in the share prices of major affiliates such as Samsung Electronics and Samsung C&T. Lee holds shares in seven stocks in total, including Samsung Electronics, Samsung C&T and Samsung Life Insurance.

Lee’s stock wealth has risen explosively in less than one year since the launch of the Lee Jae-myung government. Its valuation, which stood at 14 trillion 2,852 hundred million won ($10.47 billion) on June 4 last year, increased by more than about 37 trillion 3,700 hundred million won ($27.39 billion) in 342 days, posting a gain of 261.6%. In particular, it took just 37 days for his stock wealth to rise from the 30 trillion won range to the 40 trillion won range. It then took 75 days to enter the 50 trillion won range from 40 trillion won despite the impact of the situation in the Middle East.

The biggest contributors to the increase in his wealth were Samsung Electronics and Samsung C&T. The value of Lee’s Samsung Electronics holdings, 97,414,196 shares, rose to the 28 trillion won range based on that day’s closing price. The value of his stake in Samsung C&T also surged by more than 200% from June last year to 16 trillion 1,313 hundred million won ($11.82 billion) as the share price climbed. In addition, Samsung Life Insurance at 6 trillion 2,534 hundred million won ($4.59 billion) and Samsung SDS at 1 trillion 2,365 hundred million won ($907.68 million) supported his trillion-won-level valuation.

The combined stock wealth of the Samsung owner family, including Lee, was also calculated at 111 trillion 6,184 hundred million won ($81.84 billion), surpassing the 100 trillion won line. Hong Ra-hee, Honorary Director of the Leeum Museum of Art, held stock wealth of 20 trillion 8,359 hundred million won ($15.27 billion); Lee Boo-jin, President and CEO of Hotel Shilla, held 20 trillion 1,230 hundred million won ($14.75 billion); and Lee Seo-hyun, President of Samsung C&T, held 19 trillion 2 hundred million won ($13.92 billion).

Oh Il-seon, head of the Korea CXO Institute, said, “This result goes beyond a simple increase in the wealth of the Samsung family and shows that the South Korean stock market is entering an advanced-country model at a superfast pace based on trust.”

Kim Eun-jin