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Value of Stock Held by 30 Business Groups’ Heads Fell 2.5 Trillion won
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Value of Stock Held by 30 Business Groups’ Heads Fell 2.5 Trillion won
  • By matthew
  • July 30, 2013, 05:38
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It has been found that the value of stock owned by the heads of the 30 major business groups in Korea decreased approximately 2.5 trillion won in the first half of this year.

The Korea CXO Research Institute evaluated their stocks on July 5 and announced that the appraised value increased for only 9 out of the 30 corporate heads between January 1 and the end of June 2013. The total value declined approximately 7.9% from 32.673 trillion won to 30.107 trillion won during the period. They were found to be in possession of 86 companies’ stocks, with the prices of 56 of them falling during the past six months.

It was KCC chairman Chung Mong-jin who posted the largest increase in appraised value. KCC’s stock price jumped 8.6% in H1, to raise the amount from 564.2 billion won to 612.8 billion won. Park Sam-koo of the Kumho Asiana Group (20.8% up to 70 billion won) and Kolon Group chairman Lee Woong-yeol (3.3% up to 176.7 billion won) also enjoyed increases.

In contrast, Samsung Electronics chairman Lee Kun-hee’s appraised value fell 5.6%, or 673.1 billion won, in the six-month period from 11.978 trillion won to 11.304 trillion won as the share price of Samsung Electronics plunged 1.166 trillion won, although that of Sam- sung Securities rose by 514.8 billion won.

Hyundai Motor Group chairman Chung Mong-koo’s ended up at 6.216 trillion won as of the end of last month, a fall of 7.0% or 465.5 billion won, while GS Group chairman Huh Chang-soo’s fell 42.2% from 699.5 billion won to 404.7 billion won.