Stock Wealth of Major Conglomerate Heads Surges Amid Market Rally

[Economy 365]

The stock value of heads of major conglomerates has increased significantly due to the strength of the domestic stock market.

According to the Korea CXO Institute, a corporate analysis firm, the stock valuation of Samsung Electronics Chairman Lee Jae-yong rose from 30.9 trillion won to 59.1 trillion won in the second quarter, marking an increase of 28.2 trillion won and ranking first in growth.

SK Group Chairman Chey Tae-won saw his stock value jump by 176.9% to 10.8 trillion won, joining the "10 Trillion Won Club" for the first time.

As of the end of June, there are 16 conglomerate heads with stock assets exceeding 1 trillion won.

While the total stock valuation of the 46 conglomerate heads increased by 28% during the second quarter, it actually decreased by 8.6% when excluding Chairmen Lee Jae-yong and Chey Tae-won.

The institute noted that while the conglomerate heads hold around 150 different stock items, the share prices of about two-thirds of them have fallen. It projected that market volatility could increase further in the third quarter due to profit-taking and external variables.

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