Dilution of Value
The value of the stocks owned by Samsung Electronics Chairman Lee Kun-hee and Vice Chairman Lee Jae-yong has dropped by over 1 trillion won since the beginning of the second half of this year due to the recent fall in the share prices of Samsung’s listed subsidiaries.
According to financial information provider FnGuide, the value of the chairman’s shares in Samsung Electronics, Samsung C&T, and Samsung Life Insurance decreased by 1.0998 trillion won (US$1.0627 billion) between July 1 and Sept. 12. The appraised value has dropped from 11.788 trillion won (US$11.400 billion) to 10.6881 trillion won (US$10.3362 billion) since June 3.
The value of the vice chairman’s Samsung Electronics shares decreased by 226.1 billion won (US$218.4 million) to 1.0093 trillion won (US$974 million), too. The appraised value fell 291.3 billion won (US$281.7 million) to 1.3008 trillion won (US$1.2580 billion) for the Samsung Electronics shares of the chairman’s wife, and Leeum Samsung Museum of Art director, Hong Ra-hee.
In the meantime, former Saenuri Party lawmaker Chung Mong-joon’s shares in Hyundai Heavy Industries dropped by 366.6 billion won (US$354.2 million) to 1.0651 trillion won (US$1.0300 billion) during the same three months. Meanwhile, Amore Pacific Chairman Seo Kyung-bae recorded a rate of increase of 45.91 percent to 5.8006 trillion won (US$5.6018 billion) in Amore Pacific and Amore G during the three-month period. He was followed by CJ Group Chairman Lee Jae-hyun (up 328.5 billion won or US$317.4 million), Hyundai Motor Group vice chairman Chung Eui-sun (up 312.9 billion won or US$302.2 million) and SK Group Chairman Choi Tae-won (increased 260.4 billion won or US$251.6 million).