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Staff reporter
Kim Jun-il, president of food container company Lock&Lock, is the newest member of the so-called ``1 trillion won'' club, in terms of stock ownership.
The Web site Chaebul.com reported that the value of the stocks owned by Kim has reached 1 trillion won (about $825 million) based on closing prices on Thursday. Kim owns 54.54 percent of the company.
Lock&Lock, had its initial public offering on the Korean stock market on January 28. The IPO price was at 15,700 won, and since then has jumped to 37,000 won, a 135.7 percent increase in four months.
Established in 1978, Lock&Lock exports its plastic containers to more than 100 countries worldwide. The company is expanding from the airtight containers characterized by a four-sided interlocking system, to offer a more comprehensive line of kitchenware.
There are currently 12 members of the so-called 1 trillion won club, led by Samsung Electronics chairman Lee Kun-hee.
Lee, still the richest man in terms of stock ownership, owns 8.37 trillion won worth of stocks of Samsung Electronics, Samsung CT&T and Samsung Life Insurance. The listing of Samsung Life Insurance on the KOSPI last May helped boost Lee's ranking, since he owns 41.5 million shares.
The Chung family, which owns the Hyundai conglomerate, take up the next three slots. Hyundai Kia Automotive Group Chairman Chung Mong-koo came in second with 5.17 trillion won, followed by Hyundai Heavy Industries Chung Mong-joon with 1.87 trillion won. Chung Eui-sun, Hyundai vice-president and the son of the Hyundai Kia chairman, ranked fourth with 1.8 trillion won.
SK Group chairman Chey Tae-won came in fifth with 1.74 trillion won worth of stocks.
According to Chaebul.com, other Korean businessmen with more than 1 trillion won worth of stocks include Shinsegae head Lee Myung-hee, Lotte Group Vice-Chairman Shin Dong-bin, Lotte Japan Vice-President Dong-joo, AmorePacific President Suh Kyung-bae and LG Group Chairman Koo Bon-moo.
cathy@koreatimes.co.kr
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