South Korea's Richest: Forbes Ranking Reveals Tech and Biotech Surge
South Korea's Richest: Forbes Ranking Reveals Tech and Biotech Surge
South Korea's Wealthiest Individuals: 2024 Forbes Ranking
The latest Forbes ranking of South Korea's richest individuals has revealed significant shifts in the country's wealth landscape for 2024. This year's list showcases the dynamic nature of the Korean economy, with notable changes at the top and the emergence of new entrants in the technology and biotech sectors.
Top 5 Wealthiest South Koreans
The upper echelons of South Korea's wealth hierarchy have seen a reshuffling, with a new leader taking the top spot:
- Lee Jae-yong (Samsung Electronics Chairman): $11.5 billion
- Michael Kim (MBK Partners Chairman): $9.7 billion
- Seo Jung-jin (Celltrion Honorary Chairman): $7.5 billion
- Cho Jung-ho (Meritz Financial Group Chairman): $5.6 billion
- Chung Mong-koo (Hyundai Motor Group Honorary Chairman): $4.6 billion
Notable Changes and Trends
New Leader at the Top
For the first time, Lee Jae-yong, the chairman of Samsung Electronics, has claimed the number one position with a net worth of $11.5 billion. This marks a significant shift, as self-made entrepreneurs had dominated the top spot in recent years. Lee's ascension to the top reflects the continued strength and global influence of the Samsung conglomerate.
Tech and Biotech Surge
The 2024 list highlights the growing importance of technology and biotechnology in South Korea's economy. New entrants in the top 50 include:
- Kwak Dong-shin (Hanmi Semiconductor Vice Chairman): Ranked 8th with $3.9 billion
- Park Soon-jae (Alteogen CEO): Ranked 23rd with $1.43 billion
- Lee Chae-yoon (Leeno Industrial President): Ranked 35th with $1 billion
- Jung Ji-wan (Soulbrain Chairman): Ranked 48th with $800 million
These new additions underscore the rising prominence of AI semiconductor-related companies and biotech firms in South Korea's economic landscape.
Comprehensive Ranking Table
Here's a more detailed look at the top 20 wealthiest individuals in South Korea for 2024:
| Rank | Name | Net Worth (USD) | Company/Industry |
|---|---|---|---|
| 1 | Lee Jae-yong | $11.5 billion | Samsung Electronics |
| 2 | Michael Kim | $9.7 billion | MBK Partners |
| 3 | Seo Jung-jin | $7.5 billion | Celltrion |
| 4 | Cho Jung-ho | $5.6 billion | Meritz Financial Group |
| 5 | Chung Mong-koo | $4.6 billion | Hyundai Motor Group |
| 6 | Kim Beom-su | $4.5 billion | Kakao |
| 7 | Hong Ra-hee | $4.4 billion | Former Director of Leeum Museum |
| 8 | Kwak Dong-shin | $3.9 billion | Hanmi Semiconductor |
| 9 | Kwon Hyuk-bin | $3.5 billion | Smilegate |
| 10 | Chung Euisun | $3.4 billion | Hyundai Motor Group |
| 11 | Kim Bom-suk | $3.2 billion | Coupang |
| 12 | Kim Jung-min & Kim Jung-youn | $2.9 billion | Nexon |
| 13 | Lee Boo-jin | $2.9 billion | Hotel Shilla |
| 14 | Lee Seo-hyun | $2.7 billion | Samsung C&T |
| 15 | Yoo Jung-hyun | $2.3 billion | Nexon |
| 16 | Lee Dong-chae | $2.2 billion | Ecopro |
| 17 | Bang Si-hyuk | $2.1 billion | HYBE |
| 18 | Kim Jun-ki | $1.9 billion | DB Group |
| 19 | Koo Kwang-mo | $1.8 billion | LG Group |
| 20 | Lee Ho-jin | $1.55 billion | Taekwang Group |
This comprehensive list showcases the diverse sources of wealth in South Korea, ranging from traditional conglomerates (chaebols) to newer tech-driven enterprises. The ranking reflects the country's evolving economic landscape and the growing influence of innovative sectors alongside established industries.
This post is not intended as investment advice and should be used for informational purposes only. Stocks or financial products mentioned may involve high risks, so please make investment decisions carefully and at your own responsibility. Wishing you success in your investments!