(C) Gulf Businees

SEOUL – The landscape of South Korea’s wealth distribution has undergone a tectonic shift over the past year. According to data released on December 24 by CEO Score, a leading corporate tracking firm, the combined stock value of the nation’s top 100 equity holders surged by nearly 70 trillion won (approximately $53.8 billion) in 2024, reaching a staggering total of 177 trillion won.

At the pinnacle of this wealth explosion is Lee Jae-yong, Chairman of Samsung Electronics. Over the course of the year, Lee’s equity holdings nearly doubled, skyrocketing from 12.03 trillion won to 23.36 trillion won—a 94.1% increase. This surge is primarily attributed to the robust performance of key Samsung subsidiaries. Lee’s stake in Samsung Electronics alone saw its value jump by 99.8% to 10.37 trillion won, while his holdings in Samsung C&T and Samsung Life Insurance grew by 116.9% and 63.5%, respectively.

Beyond market performance, a significant family succession move is set to further solidify Lee’s dominance. The Chairman is scheduled to receive a gift of 1.81 million shares in Samsung C&T from his mother, Hong Ra-hee, the former director of the Leeum Museum of Art, on January 2. This transfer will further expand his influence and asset base within the group.

The report also highlights the overwhelming presence of the Samsung "dynasty" at the top of the rankings. Following Cho Jung-ho, Chairman of Merits Financial Group (2nd place with 10.71 trillion won), the third through fifth positions are held exclusively by the Samsung family: Hong Ra-hee (9.82 trillion won), Hotel Shilla CEO Lee Boo-jin (8.84 trillion won), and Samsung C&T President Lee Seo-hyun (8.12 trillion won).

However, the 2024 wealth map is not merely a story of traditional chaebol families. A new wave of first-generation entrepreneurs and young moguls is challenging the status quo. Park Soon-jae, CEO of biotech firm Alteogen, and Bang Si-hyuk, Chairman of HYBE, secured the 8th and 10th spots, respectively, signaling the rising economic weight of the pharmaceutical and entertainment sectors.

The generational shift is also becoming more visible. The list of the top 100 now includes two prominent figures in their 30s: Kim Byung-hoon (born 1988), CEO of the beauty-tech firm APR, and Oh Su-jeong (born 1986) of Rainbow Robotics. Even in the "under 30" category, stock values rose by 47.8%, with three young heirs surpassing the 100-billion-won threshold. Notably, members of the global sensation BTS—Jimin, V, and Jungkook—were also identified among the top 100 stock holders under the age of 30, reflecting the unique intersection of pop culture and capital in Korea's modern economy.

Industry analysts suggest that while the recovery of the semiconductor and high-tech sectors has fueled the massive gains for established leaders like Samsung, the entry of 20 new faces into the top 100—ranging from biotech experts to robotics innovators—points to a diversifying economic engine. As the year 2025 approaches, the focus remains on how these wealth shifts will influence corporate governance and investment trends in the Korean market.