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Stock assets of chaebol heads decrease nearly 7 pct

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(Globalpost/GlobalPost)

SEOUL, June 9 (Yonhap) -- Stock assets owned by heads of South Korea's top-10 conglomerates, or chaebol, have shrunk by nearly 7 percent this year due to the prolonged stock market slump, an online media site reported Sunday.

According to Chaebul.com, shares owned by the chairpersons of the nation's 10 largest conglomerates, excluding public corporations, were worth 25.6 trillion won (US$22.91 billion) as of Friday, down 6.6 percent, or 1.8 trillion won, from the beginning of the year.

Lee Kun-hee, the chairman of Samsung Electronics, has seen his stock holdings fall 1.8 percent to 11.7 trillion won, Chaebul.com said.

Chung Mong-koo, the chairman of Hyundai Motor Group, sustained a 9.7 percent drop in his stock assets now valued at 6.35 trillion won, it noted.

Stock assets of SK Group chairman Chey Tae-won, LG Group chairman Koo Bon-moo and Lotte Group chairman Shin Dong-bin also fell 1.4 percent, 1.8 percent and 5.2 percent, respectively, to 1.9 trillion won, 1.2 trillion won and 1.7 trillion won, the media noted.

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