Samsung Electronics chief's stock wealth jumps 28 trillion won in second quarter

The value of shares held by Samsung Electronics Executive Chairman Lee Jae-yong surged by 28 trillion won ($18.69 billion) in the second quarter from three months earlier, as Korean stocks hit record highs, industry data showed Tuesday.

Lee's total stock holdings were valued at 59.18 trillion won as of the end of June, up from 30.94 trillion won at the end of March, according to data released by market tracker Korea CXO Institute.

The increase marked the largest rise in value among Korean business group leaders in terms of absolute gains during the period, the latest findings showed.

SK Group Chairman Chey Tae-won saw the value of his stock holdings jump to 10.83 trillion won at the end of June from 3.91 trillion won three months earlier.

His holdings recorded the highest growth rate among the leaders, rising 176.9 percent.

The survey covered 46 heads of major business groups whose stock holdings were valued at more than 100 billion won as of the end of June. The subjects included shares directly held by group leaders in listed companies, as well as indirect stakes held through unlisted affiliates.

Other business leaders whose stock assets increased by more than 20 percent included LS Group Chairman Koo Ja-eun, with a 34.1 percent increase and Hyundai Department Store Group Chairman Chung Ji-sun, with a 27.6 percent rise.

Yonhap