Stocks Double, Lee Jae-yong in Hot Pursuit... Who Holds the 2nd Largest Stock Wealth?

On the 21st, Korea CXO Research Institute, a corporate analysis specialist, reported that the stock wealth of Chairman Jo Jeong-ho, the largest shareholder of Meritz Financial Group, surpassed 12 trillion won as of the 20th. This increase in Chairman Jo's stock valuation was due to the common stock price of Meritz Financial exceeding 120,000 won per share.

Jo Jung-ho, Chairman of Meritz Financial Group

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Since April 2023, Chairman Jo has held 97,747,034 shares of Meritz Financial. At the beginning of last year, his stock valuation was estimated at 5.7475 trillion won, but it has shown a steady upward trend since then.

On January 23 of last year, it entered the 6 trillion won range at 6.0505 trillion won, and on February 2 and 23 of the same year, it was recorded at 7.0084 trillion won and 8.0739 trillion won, respectively. Then, on August 20, last year, it reached 9.0416 trillion won, and on October 14, it recorded 10.1363 trillion won. This year, on February 4, it entered the 11 trillion won range at 11.0452 trillion won, and on the previous day, it surpassed 12 trillion won for the first time at 12.0228 trillion won. In just one year, his stock wealth doubled.

The rise in Chairman Jo's stock wealth was influenced by the increase in Meritz Financial's stock price. Meritz Financial Group is regarded as a "value-up model student." In the domestic stock market, where "split listings" are rampant, Meritz Financial Group is a company that fully acquired its subsidiaries and delisted them. These subsidiaries are Meritz Securities and Meritz Fire & Marine Insurance. After merging and delisting the two subsidiaries in 2022, the stock price of Meritz Financial Group has risen more than fourfold to date. Additionally, large-scale treasury stock cancellations have been steadily carried out. At the beginning of last year, the closing price per common share was 58,800 won, but it recorded 123,000 won on the previous day.

Currently, the richest stockholder in Korea is Samsung Electronics Chairman Lee Jae-yong, with approximately 13.1848 trillion won. Celltrion Chairman Seo Jung-jin ranks third with 10.4366 trillion won.

The CXO Research Institute highlighted the notable increase in Chairman Jo's stock wealth. At the beginning of last year, when Chairman Lee's stock wealth was set at 100, Chairman Jo's was only at 38.7, but in just one year, he caught up to 91.2 compared to 100. As of the 20th, the difference in stock wealth between Chairman Lee and Chairman Jo is about 1.1 trillion won.

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