Amore Pacific Group Chairman Suh Kyung-bae overtook Samsung Electronics Vice Chairman Lee Jae-yong to become South Korea's second-richest man in stock value for the first time.
According to data from Chaebul.com, Chairman Suh's stocks were valued at 8.4575 trillion won (US$7.67 billion) at the end of market close on March 25.
The figure is up 43.7 percent, or 2.573 trillion won (US$2.33 billion), from 5.8845 trillion won (US$5.34 billion) at the end of last year.
Vice Chairman Lee’s stock value dropped 198 billion won (US$179.67 million) to 8.4548 trillion won (US$7.67 billion), a 2.3 percent decrease compared with the figure at the end of last year.
The stock price of Amore Pacific on March 25 once surged to 3.39 million won (US$3,076) and closed at 3.374 million won (US$3,062), a 2.9 percent increase from the previous day.
Samsung Electronics Chairman Lee Kun-hee ranked 1st in stock value again, with 12.2233 trillion won (US$11.1 billion). Hyundai Motor Chairman Chung Mong-koo took 4th place with 5.3272 trillion won (US$4.83 billion), while SK Group Chairman Chey Tae-won took 5th place with 4.0199 trillion won (US$3.65 billion), which is increased by 502.1 billion won (US$455.63 million) or 14.3 percent.
Hotel Shilla President Lee Boo-jin and Chiel Industries President Lee Seo-hyun shared 6th place, with 2.4261 trillion won (US$2.2 billion), respectively, followed by Hyundai Motor Vice Chairman Chung Eui-sun with 2.4124 trillion won (US$2.19 billion), which has decreased by 1.5462 trillion won (US$1.39 billion) or 38.9 percent.
Notably, the stock assets of Meritz Financial Group Chairman Cho Jung-ho grew by 299.6 billion won (US$271.87 million), or 31.8 percent, to 1.2412 trillion won (US$1.13 billion). Thanks to the recent bullish stock market, 21 people have stock values of more than 1 trillion won (US$907.44 million), which is the highest number in history. Also, there is a considerable number of people expected to see their stock value exceed 1 trillion won.