Top 20 Stock Billionaires' Equity Value Drops 19 Trillion Won... Kim Dae-il, Jang Byung-gyu, Bang Si-hyuk's Stocks Halved and Plummeted

[Asia Economy Reporter Lee Seon-ae] This year, the stock assets of domestic stock tycoons have significantly decreased. The majority of the top 20 stock tycoons saw a sharp decline in the valuation of their shares. Compared to the beginning of the year, more than 19 trillion won has evaporated. The share valuation decline rates of Kim Dae-il, Chairman of Pearl Abyss, Jang Byung-gyu, Chairman of Krafton, and Bang Si-hyuk, Chairman of HYBE, were the highest.

According to financial information company FnGuide on the 12th, the total valuation of shares held by the top 20 individuals in domestic listed companies was 72.0084 trillion won as of the 10th, a sharp drop of 19.3093 trillion won compared to 91.3977 trillion won on January 3, the first trading day of the year. Considering that the KOSPI and KOSDAQ indices fell by 13.12% and 17.5% respectively during the same period, the decline in these stock tycoons’ share valuations (21.12%) was steeper.

Except for only two individuals among the top 20, all saw a decrease in share value. The valuation of HD Hyundai shares held by Chung Mong-joon, Chairman of the Asan Social Welfare Foundation, increased by 10.26%, from 1.1262 trillion won to 1.2417 trillion won. The share valuation of Seo Kyung-bae, Chairman of Amorepacific Group, also slightly increased by 0.71%.

The wealth of emerging tycoons in the gaming and entertainment sectors shrank particularly significantly. The valuation of Pearl Abyss shares held by Chairman Kim Dae-il plummeted by 54.33%, from 3.156 trillion won to 1.4414 trillion won. Next, the valuation of Krafton shares held by Chairman Jang Byung-gyu also decreased by 45.94%, from 3.2328 trillion won to 1.7477 trillion won. The valuation of HYBE shares held by Chairman Bang Si-hyuk dropped by 34.24%, from 4.6095 trillion won to 3.0031 trillion won.

This was due to the halving of the stock prices of Krafton, Pearl Abyss, and HYBE. Krafton’s stock price, which was 460,000 won on January 3, sharply dropped by 46.73% to 245,000 won on the 10th. The stock price decline rates of Pearl Abyss and HYBE were 54.32% and 34.23%, respectively. Krafton and Pearl Abyss were weighed down by poor performance. Due to disappointing results from new releases and the absence of new titles, investor sentiment rapidly froze, causing the stock prices to fall continuously. HYBE was also affected by poor performance due to social distancing measures and other reasons.

The share valuations of Lee Hae-jin, Global Investment Officer (GIO) of Naver, and Kim Beom-su, Head of Kakao Future Initiative Center, also decreased by 27% and 26.6%, respectively, due to the sharp decline in Naver and Kakao stock prices. The stock prices of Naver and Kakao, representative growth stocks in Korea, have halved over the past year. The stock prices plunged as doubts arose about their performance and growth potential falling short of market expectations. In particular, Kakao recorded negative earnings for the first time in five years. After 19 consecutive quarters of growth since Q1 2017, its revenue sharply declined compared to the previous quarter. Naver also disappointed with earnings at the level of an ‘earnings shock’ (unexpected poor performance). Both companies were significantly affected by domestic and international adverse factors such as rising labor costs, the Ukraine crisis, and US interest rate hikes.

Meanwhile, the share valuation decline rates of Samsung family members ranked 1st, 2nd, 3rd, and 4th among stock tycoons?Samsung Electronics Vice Chairman Lee Jae-yong, former Samsung Museum of Art Leeum Director Hong Ra-hee, Hotel Shilla President Lee Boo-jin, and Samsung Welfare Foundation Director Lee Seo-hyun?were 10.85%, 28.10%, 14.77%, and 16.15%, respectively.

This content was produced with the assistance of AI translation services.