By Kang Seung-woo
The owners and family members of the country’s top 30 conglomerates collectively earned 13 trillion won (about $12.18 billion) through the stock market over the past year, an Internet-based researcher said Friday.
According to Chaebul.com, the market value of stock holdings owned by 118 members of corporate royalty stood at 53.93 trillion won as of the end of June this year, up 12.50 trillion won from 40.59 trillion won a year ago.
When combining their earnings from stock dividends, which amount to 493.7 billion won, their new income over the year amasses to 12.99 trillion won.
That is 3.3 trillion won more than the Defense Ministry’s budget for this year slated to strengthen the country’s weaponry in artillery, fighter jets and submarines.
The average stock-holding member of a chaebol-owning family saw their gains from dividend income and valuation gains increase by 111 billion won over the year.
The value of shares held by Hyundai Motor Group chairman Chung Mong-koo and his family increased by 3.79 trillion won, from 7.20 trillion won to 10.99 trillion won, over the year.
Chung Mong-joon, the largest shareholder of Hyundai Heavy Industries, came in second on the highest-earning list after raking in 1.74 trillion won, to rise from 1.93 trillion won to 3.67 trillion won in his stock value and receive 57.5 billion won in dividends, followed by former Lotte Group Chairman Shin Kyuk-ho, who made 1.61 trillion won ― 1.60 trillion won in stocks and 15.1 billion won in dividends.
SK Group Chairman Chey Tae-won and LG Group Chairman Koo Bon-moo rounded out the top five, as Chey gained 1.12 trillion won and Koo took in 571.1 billion won.
Samsung Electronics Chairman Lee Kun-hee’s valuation gains just reached 69.4 billion won, but his income from dividends was a list-leading 153.4 billion won.
While most of the top 30 privately-owned conglomerates’ family members enjoyed increases in their earnings from the stock market, six groups including families of Hanjin Group chairman Cho Yang-ho and Woongjin Group Chairman Yoon Seok-keum saw their stock earnings tumble.
Cho’s stock valuation shed 125 billion won, while that of Yoon dropped 191.8 billion won.