July 13, 2020

Chaebol heads' property value up 34 pct in 2019

PUBLISHED : May 05, 2019 - 11:55

UPDATED : May 05, 2019 - 15:19

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The value of houses owned by chaebol heads shot up 34 percent in 2019 from a year earlier, data showed on May 5.

According to the data compiled by, the combined declared value of houses owned by the country's major 39 family-controlled business giants, called chaebol in South Korea, was estimated at 429.3 billion won ($367 million), up from 320 billion won posted a year earlier.

Samsung Electronics Chairman Lee Kun-hee

Samsung Electronics Chairman Lee Kun-hee saw the declared value of his houses reach 96.4 billion won, rising a whopping 38.5 percent on-year. The value of his house located in the Hannam district of Seoul especially shot up 52.5 percent to 39.8 billion won.

Lee Myung-Hee, the younger sister of Lee Kun-hee and the head of South Korea's retail giant Shinsegae Group, followed with 40.4 billion won.

Suh Kyung-bae, president of top cosmetics maker AmorePacific Group, saw the value of his house go up nearly 50 percent on-year to 37.2 billion won.

The value of houses owned by Hyundai Motor Group Chung Mong-koo moved up 36.7 percent over the cited period to 14.2 billion won, and that of SK Group Chairman Chey Tae-won increased 43.2 percent to 12.6 billion won.

By Song Seung-hyun and newswires (

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