Naver’s former CEO Han Seong-sook could become Korea’s richest-ever minister

Han Seong-sook, nominee for minister of SMEs and startups, answers questions from reporters as she arrives at her confirmation hearing preparation office in Yeongdeungpo District, Seoul, June 26. Yonhap

Han Seong-sook, former CEO of Naver and nominee for minister of SMEs and startups, has declared personal assets totaling over 44 billion won ($32 million), potentially making her the wealthiest minister in Korea since the beginning of the civilian government in 1993.

According to the nomination proposal submitted to the National Assembly by Rep. Lee Jong-bae of the People Power Party on Wednesday, Han reported 18.2 billion won in personal assets. When counting 590 million won in her mother’s name, the official figure rises to 18.8 billion won.

However, this does not include her estimated 25.4 billion won in Naver stock options and 430 million won in restricted stock units. When these are included, Han’s total reported wealth climbs to 44.1 billion won.

Among her declared assets, Han owns stocks worth over 4.07 billion won, with Naver shares accounting for more than half, valued at 2.3 billion won.

She also holds significant shares in U.S. tech companies, including Tesla (1.03 billion won, or 2,166 shares), Apple (246 million won, 894 shares), Palantir (111 million won, 580 shares) and Nvidia (92 million won, 466 shares).

Additionally, she holds cryptocurrencies including Ethereum and Bitcoin, worth 15 million won, and 4.1 billion won in bank deposits.

Han’s real estate holdings are also substantial. She owns an apartment in Jamsil-dong, Songpa District (worth 2.74 billion won), a house in Samcheong-dong, Jongno District (1.5 billion won), and another house in Yangpyeong County, Gyeonggi Province (630 million won).

She also owns an officetel in Yeoksam-dong, Gangnam District (2.07 billion won), a commercial property in Yeongun-dong, Jongno (1.4 billion won), and several plots of land in Gyeonggi Province, in Yangpyeong and Gwangsa-dong, Yangju.

Born in 1967, Han began her career as a journalist for the computer magazine Mincom and later joined web portal Empas in 1997 as a founding member.

She served as head of the search and service divisions at NHN, the predecessor to Naver, and made history in 2017 by becoming the company’s first female CEO, leading the company for five years.

This article from the Hankook Ilbo, the sister publication of The Korea Times, is translated by a generative AI and edited by The Korea Times.