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Samsung heir stays S. Korea's richest stockholder

Finance Materials 6 October 2021 07:10
Samsung heir stays S. Korea's richest stockholder

Lee Jae-yong, the chief of South Korea's top conglomerate Samsung Group, remains the country's richest stockholder despite a fall in the value of his shareholdings, a corporate tracker said, Trend reports citing Yonhap.

Stock holdings of Lee, vice chairman of global tech titan Samsung Electronics Co., were valued at 14.17 trillion won (US$11.9 billion) as of end-September, the largest among local conglomerate owners, according to Korea CXO Institute.

Yet the value of his stock holdings was down about 1.39 trillion won from three months earlier. Lee suffered the second-biggest drop among.

In May, Lee emerged as the country's richest stockholder after inheriting stakes in Samsung firms from his late father Lee Kun-hee.

The elder Lee died on Oct. 25, 2020, at age 78, more than six years after being hospitalized for a heart attack. He had been the country's richest stockholder for the past 10 years, with his stock value reaching 17.7 trillion won as of late October.

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