Samsung chairman owns most lavish home among tycoons

2013-10-28 10:38

Samsung chairman owns most lavish home among tycoons

Lee Kun-hee, chairman of the world’s top maker of smartphones Samsung Electronics Co., owns the most expensive houses out of the country’s top 30 business leaders, data showed Monday. The combined declared value of houses held by the 30 business tycoons reached 157.7 billion won (US$148.4 million) at end-June, up 9.6 percent from a year earlier, according to the data by market researcher Chaebul.com.Lee has three homes in Seoul’s affluent Itaewon, Sameong and Seocho areas, with a combined price of 28.1 billion won, up 6.9 percent from last year, the researcher said. The data excludes non-residential property assets.
Lee Myung-hee, the chairwoman of retail giant Shinsegae and a sister of the Samsung head, ranked second with houses priced at 12.8 billion won, up 74.5 percent from a year earlier.
Koo Ja-yeol, who heads LS Group, ranked third with houses priced at 8.7 billion won, followed by Hanwha Group Chairman Kim Seung-youn with 7 billion won and Hyosung Group Chairman Cho Suck-rai with 6.9 billion won.
Hyundai Motor Group Chairman Chung Mong-koo’s houses were valued at 6.8 billion won, Chaebul.com added.
Shin Dong-bin, who heads Lotte Group, saw the value of his home reach 4.7 billion won at end-June, marking the largest jump among business tycoons at 85.1 percent from the 2.6 billion won tallied a year earlier.
Tong Yang Group Chairman Hyun Jae-hyun, meanwhile, saw the value of his home advance 7.4 percent over the cited period to reach 3.6 billion won, but his house was seized by a local court following the group’s liquidity crisis. (Yonhap)

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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