Head of YG Family Entertainment makes it onto the list of Korea’s wealthiest stock holders.According to the Korean Webpage Chaebul.com, which lists the wealthiest conglomerates and individuals in the nation, Yang Hyun-suk has made his mark on the list of the country’s richest stock holders, coming in at fifth. As the representative YG Family, Yang is estimated to have around 134 billion won ($116 million) worth of shares in the Korean share market. According to the website’s Jan. 2 announcement, the head of the entertainment agency made his fortune by listing his company on the Kosdaq in November last year.
The entertainment agency’s initial public offering was 34000 won but its stock soon doubled to a sum of 78200 won. As of Dec. 29, its closing price was valued at 736000 won.
Yang is in possession of 47.7% of the shares in his own company. Thus it is estimated that Yang’s value of share stands at around 134 billion won.
The entertainment agency is home to K-pop groups such as Big Bang, 2NE1 and solo artists Gummy and Tablo, among others.
Also mentioned in the ranking by Chabul.com was the second son of the president of Iljin Group, Heo Jae-myung, valued at 418.6 billion won and topping the list. Second place was claimed by the president of Hi Mart, while third and fourth place were maintained by the presidents of Shinsegae Group and Golfzon.
By Carla Sunwoo [firstname.lastname@example.org]