Samsung Chairman Jay Y. Lee has emerged as the biggest winner among South Korea’s corporate elite in the first half of the year, as a rebound in the semiconductor market and soaring share prices across the Samsung empire fueled a sharp increase in his wealth.
According to data compiled by Seoul-based research firm Leaders Index, the combined wealth of 623 members of the country’s top 50 business families grew by more than $2.3 billion this year. Lee’s personal gains stood out the most, with his fortune swelling by more than $2.7 billion, bringing his net worth to roughly $11.8 billion. Much of the boost came from Samsung C&T, the conglomerate’s de facto holding company, whose stock has surged nearly 50% since the start of the year. That alone added about $1.35 billion to Lee’s paper wealth.
The Lee family as a whole reaped nearly $7.3 billion in additional assets, accounting for roughly a third of the increase among Korea’s tycoon families. Lee Boo-jin, president of Hotel Shilla and Lee’s younger sister, added more than $1.85 billion, while their mother Hong Ra-hee, former director of the Leeum Museum of Art, gained around $1.18 billion.
Other chaebol leaders also saw their fortunes climb. Cho Hyun-joon, chairman of Hyosung Group, recorded a gain of more than $1.48 billion, largely thanks to restructuring efforts within the conglomerate.
Hyundai Motor Group’s Euisun Chung added about $1.26 billion to his wealth as the automaker’s shares benefited from robust global demand for electric and hybrid vehicles.
But not all South Korea’s billionaire heirs and founders were spared losses. Shin Chang-jae, chairman of Kyobo Life Insurance, saw his wealth shrink by nearly $595 million amid weakness in the insurance sector.
Yoo Jung-hyun, widow of late Nexon founder Kim Jung-ju and chairwoman of NXC, shed more than $148 million following divestments and a downturn in the gaming industry. Observers say the wealth swings of Korea’s richest families reflect more than just private fortunes.
“The rise and fall of chaebol assets serve as a mirror of the broader Korean economy,” said one Seoul-based analyst. “The semiconductor, auto, and materials sectors remain the backbone of the country’s global competitiveness—and the fortunes of their leaders often move in lockstep with national economic trends.”
