[SUPER RICH] Kim Jung-ju’s business investments

Nexon founder and chairman Kim Jung-ju is not only the front-runner in Korea’s gaming industry, but is also considered a genius for spreading his influence through strategic acquisitions and investments.As noted by the Wall Street Journal in an article last year, “Mr. Kim said he wanted to join Collaborative Fund in New York City not so much to help the firm source deals in the gaming industry, but to help start-ups get from ‘idea stage to minimum viable product’ and beyond, without raising more

IndustryFeb. 2, 2016

[SUPER RICH] Big Bang net worth 40b won

Popular K-pop boy band Big Bang is set to join the elite superrich club with an estimated total net worth of 40 billion won ($33.2 million). Moreover, it’s leader G-Dragon, also known as Kwon Ji-yong, has a personal net worth of 15 billion won.Big Bang (YG Entertainment)Confirming Big Bang’s road to success, the quintet’s LA concert at the Staples Center during their world tour last year was selected by Billboard as one of the top 10 grossing concerts in the world, earning a total of 2.1 billion

IndustryJan. 26, 2016

[SUPER RICH] Young chaebol heiresses choose consulting firms as first workplace

SK Group chairman Chey Tae-won’s daughter Chey Yun-jeong, AmorePacific Group chairman Suh Kyung-bae’s daughter Suh Min-jung and LF president & CEO Koo Bon-keul’s niece Koo Min-jeong have a striking similarity.The three women are all next-generation chaebol heiresses currently working as junior consultants at the Korean subsidiary of global consulting firm Bain & Company.They did not enter their family business after graduating, instead choosing to work at a consulting firm to gain experience and

IndustryDec. 29, 2015

[SUPER RICH] Female superrich, East vs. West

There are more successful female entrepreneurs in Asia than in Western Europe and North America, according to new research from HSBC and market research firm Scorpio Partnership.The study, found that 51 per cent of female entrepreneurs surveyed in Asia have a net worth of more than $15 million, compared with 33 per cent surveyed in the West.The research is based on interviews with more than 2,800 business owners with a personal wealth of more than $1 million. It found that 40 per cent of entrepr

IndustryDec. 22, 2015

[SUPER RICH] The riches of chaebol scions

There is an old saying that a wealthy family loses all its fortune by the third generation. It is difficult to determine whether the saying holds true for the Korean chaebol, as many are still controlled by their second generation, with some not even setting the next succession process in motion. However, the third generation chaebol scions own incredible amounts of assets, usually in the form of stocks. The Superrich Team looked into the assets of third-generation descendants, including those i

IndustryDec. 15, 2015

[SUPER RICH] The leadership and riches of Hyundai’s third generation

The Hyundai family was once again in the spotlight on Nov. 25, on what would have been the 100th birthday of late founder Chung Ju-yung.Tycoon Chung founded the first company of what would become Hyundai Group in 1946, starting off in the construction sector and then expanding to automobiles, steel, shipping and more, setting the foundation for Korea’s rise as an industrial powerhouse.A recent public survey selected him as the most respected Korean entrepreneur, and Chung’s children have also he

IndustryDec. 1, 2015

[SUPER RICH] Doosan heir Park Seo-won steps into spotlight

Doosan Group heir Park Seo-won has finally emerged as a likely successor of the country’s 14th-largest business conglomerate, having recently joined the company’s most important project in years. The group said that Park was appointed to senior vice president of Doosan Corporation on Nov. 23, and will overlook marketing as well as other strategies of its duty-free operations. Park -- who already leads Doosan’s advertising agency Oricom and independent creative consulting firm Big Ant -- will spl

IndustryDec. 1, 2015

[SUPER RICH] New Silicon Valley stars of Korean descent

The relationship between new start-ups and their venture capital investors is a bit like a marriage: The start-up founder and investors hold a contractual ceremony, then need to uphold the terms and conditions and coexist together.In the tech sector, especially in Silicon Valley in California, many successful start-ups are the results of such unions between start-up founders and venture capital investors of Korean descent. This coexistence has resulted in the birth of a new breed of superrich.A

IndustryNov. 24, 2015

[SUPER RICH] Aekyung Group gains big as Jeju Air goes public

Aekyung Group’s low-cost carrier Jeju Air went public on Nov. 6, 10 years after its establishment, increasing the assets of the the midsize retailer and household goods conglomerate’s controlling family.Jeju Air debuted on the nation’s main bourse KOSPI at 48,100 won ($41.16) per share.Affiliates of Aekyung Group own a combined stake of 67.5 percent in Jeju Air -- with AK Holdings having 57.2 percent and Aekyung Co. 10.26 percent.As regards AK Holdings, group family members and its affiliates co

IndustryNov. 17, 2015

[SUPER RICH] Pharma king shakes up superrich rankings

There is a new entrant in the ranks of Korean superrich.Hanmi Pharmaceutical founder and chairman Lim Sung-ki became a prominent superrich as the company signed licensing agreements with several global pharmaceutical companies this year, including Belgium-based Janssen Pharmaceutica and France-based Sanofi.The multibillion-dollar licensing agreements caused the shares of Hanmi Pharmaceutical and its parent company Hanmi Science to skyrocket. Stocks of Hanmi Pharmaceutical closed at 755,000 won (

IndustryNov. 17, 2015

[SUPER RICH] Shinsegae chairwoman caught with borrowed-name stocks again

Shinsegae chairwoman Lee Myung-hee Shinsegae vice chairman Chung Yong-jinShinsegae Group, the country’s second-largest retailer, declared Friday its founder and chairwoman Lee Myung-hee owned 380,000 company shares worth around 80 billion won ($69 million) under borrowed names and that she would convert them to her own name on the day.  The problematic stocks were 258,449 shares of large discount store chain E-mart, 91,296 shares of Shinsegae and 29,938 shares of Shinsegae Food, which were techn

IndustryNov. 10, 2015

[SUPER RICH] Celebrities running natural product businesses

What do Gwyneth Paltrow, Gisele Bundchen and Madonna have in common?They are celebrities involved in natural product businesses, having become major shareholders in or founding their own companies. Their businesses range from natural foods and snacks to baby products and skin care.The Superrich team presents several world-famous celebrities working as natural lifestyle ambassadors.Jessica Alba Jessica Alba.     BloombergHollywood star Jessica Alba is also known for cofounding The Honest Company,

IndustryNov. 10, 2015

[SUPER RICH] What if the superrich gave their wealth to the poor?

What would happen if the richest families in every country gave all their wealth to the poor? It’s a far-fetched question, but one that has come up. There is even a measurement for it: the Hoover index -- commonly known as the Robin Hood index -- measures the amount of income inequality in a country by hypothetically distributing the wealth of the rich to the poor.To see how this applies in Asian countries with significant wealth inequality, the Superrich Team applied the Robin Hood index for se

IndustryNov. 3, 2015

[SUPER RICH] Korea’s respected rich entrepreneurs

The general public is more positive toward the superrich company founders rather than the chaebol heirs in Korea. There is also much less recognition for up-and-coming entrepreneurs in the Internet age and negative attitudes towards the corrupt billionaires have persisted, a recent survey by the Superrich Team found .The survey on “Korean superrich the public respects” was conducted from Sept. 7-21 among 227 respondents. The team would like to clarify that the word “respect” may not necessarily

IndustryOct. 27, 2015

[SUPER RICH] Criteria for respected superrich evolves

Korean entrepreneurs in the past were highly regarded as role models of success -- responsible for the nation’s rapid economic growth and a rising middle class -- but today they receive both praise and criticism.As Korean society developed, they were also criticized for causing social inequality such as unequal wealth distribution and passing down of wealth. No longer are the superrich given respect simply because they have accumulated riches.Nevertheless, there are billionaire entrepreneurs who

IndustryOct. 27, 2015

[SUPER RICH] Hong Kong’s young billionaire dreams of democratizing art

“Democratizing art” is the aspiration of the 35-year-old Hong Kong business entrepreneur and art collector Adrian Cheng.The Superrich team met Cheng in August at the Gana Art Gallery at Pyeongchang-dong, Seoul, for his first standalone interview with a Korean daily.Adrian Cheng is the third-generation executive of Hong Kong’s New World Group, which owns real estate company New World Development, jewelry retailer Chow Tai Fook, as well as department stores, shopping malls, duty-free stores, hotel

IndustryOct. 6, 2015

[SUPER RICH] Superrich who help refugees

Refugees from Africa and the Middle East have been crossing the Mediterranean by boat to escape war and oppression in their home countries, with many risking death in the process, as boats sink in rough waters.According to the International Organization for Migration, around 350,000 refugees have crossed the Mediterranean and landed in Europe this year, and around 2,640 people have died during the journey.In response, several billionaires have stepped in to help the refugees and ease the situati

IndustrySept. 15, 2015

[SUPER RICH] Doosan head eyes retail business

Doosan Group chairman Park Yong-maan, who openly sought to reshape his company’s portfolio with more focus on heavy industries, appears to have had a rethink -- going back to retail-- as the company announced plans to bid for the lucrative urban duty-free store operations.The country’s 13th-largest business conglomerate said that its main affiliate Doosan Corp. will seek to apply for a special license to run an urban duty-free store in Seoul on the due date of Sept. 25. The bid winner will be an

IndustrySept. 8, 2015

[SUPER RICH] Superrich who spent money for independence and the people

There is a zeitgeist in every time period. In Korea, the zeitgeist during the Japanese occupation was independence, and after independence it was to live well and reunite the two Koreas.Koreans typically hold in high regard those who have dedicated themselves to one of these causes. They realize that although such ideals are easily relatable, it is more difficult to perfectly ascribe to them.Several of the superrich have also devoted their lives to these causes, donating their riches to realize

IndustrySept. 8, 2015