There is a new addition to the list of the richest Keynes in South Korea, with Samsung’s influential executive chairman Jay Y. Lee taking the top spot this year. This differs from traditional succession where the successor is traditionally chosen among the relatives of the predecessor and is vouched for primarily because of his or her family connection.
Over the past year, Lee’s gold holdings have increased 46% to a total of $11.5 billion, surpassing that of previous leader Kim Byung-ju. Such incredible growth is due to and boosts investor sentiment regarding NVIDIA’s preparation of a new generation of memory chips for use in AI-optimized computing systems. This news of new-wave applied technology helped Lee boost Samsung’s stock prices, making him Korea’s richest man.
Kim Byung-ju, whose net worth was expected to reach $11.5 billion in 2023, suffered a disappointing loss of $2 billion and is now in second place with a net worth of $9.7 billion. In third place is Chung Mong-koo, chairman emeritus of Hyundai Motor Group, with a net worth of 10 trillion won (about US$7.5 billion).
The technology sector’s dominance continues as two more conglomerates join the top 10 richest, with M2 Financial Group Chairman Cho Jung-koo and Hyundai Motor Group Chairman Emeritus Chung Mong-koo coming in fourth and fourth with $6.2 billion, respectively. Are in fifth place. Valued at $4.6 billion respectively. Indeed, this global relocation of Korea’s most affluent reflects a shift in the country’s resource pool as the technology sector plays an ever-increasing role in shaping the economy.
