Many S. Koreans becoming superrich, with more owning stock investments of at least 10 billion won

The number of South Koreans who hold stocks worth at least 10 billion won increased 27 percent from 2,200 in 2019 to 2,800 last year.

According to the Korea Securities Depository, their combined stocks reached 241.5 trillion won in value, up 59.9 trillion won or 33 percent.

They account for a mere 0.03 percent of the 9.19 million investors in the local stock market, although their stock value comprised 36.5 percent.

Of the 2,800 “superrich” South Koreans, 2,100 were the largest stakeholders of listed firms or members of the owner families.

In 2019, the number of these rich stockholders with ties to listed companies was at 1,700.

Many of them saw the value of their existing stakes grow last year while others became richer by betting largely on stocks.

The oldest person on the superrich list was a 99-year-old relative of one of the largest stockholders in pharmaceutical firm Celltrion, owning 19.2 billion won worth of shares.

Meanwhile, the youngest was the 8-year-old granddaughter of Chung Ji-wan, CEO of chip component firm Soulbrain, with shares worth 58.2 billion won.

The average value of all shares held by them surged by 4.5 percent on-year to 86.2 billion won last year. The number of individual investors with securities over 10 billion won in value increased from 500 in 2019 to 700 in 2020.

Celltrion CEO Seo Jung-jin is the wealthiest South Korean, with assets valued at $14.2 billion. The second was Kim Jung-ju, CEO of NXC, the holding company of gaming developing firm Nexon, with assets totaling $13.3 billion. They were trailed by Kakao’s Chairman Kim Beom-su with assets at $9.3 billion.