Chaebol Heads' Property Value Up 34 pct in 2019 | Be Korea-savvy

Chaebol Heads’ Property Value Up 34 pct in 2019

Samsung Electronics Chairman Lee Kun-hee's house in Itaewon, Seoul. (Yonhap)

Samsung Electronics Chairman Lee Kun-hee’s house in Itaewon, Seoul. (Yonhap)

SEOUL, May 5 (Korea Bizwire)The value of houses owned by chaebol heads shot up 34 percent in 2019 from a year earlier, data showed Sunday.

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 (US$367 million), up from 320 billion won posted a year earlier.

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.

Hanwha Group Chairman Kim Seung-youn saw his house value move up 27 percent to 11.9 billion won.

The value of houses owned by Lotte Group Chairman Shin Dong-bin edged up 1.4 percent on-year to 6.7 billion won. A local court, however, earlier issued a collection preservation order of 7 billion won on the houses.


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