SEOUL, Nov. 9 (Korea Bizwire) – With share prices in the Korean pharmaceutical industry hitting all-time highs, the seven grandchildren of Lim Sung-gi, CEO of Hanmi Pharmaceutical Co., have each became stock billionaires with holdings of approximately 100 billion won each.
According to Chebul.com, Lim’s twelve-year-old grandson received shares of affiliated companies including Hanmi Science, through bestowal or bonus issues around 2011. The shares were calculated to be worth a total value of 109.5 billion won.
Six of Lim’s other grandchildren, who are between seven and 11 years old, also possess stocks of affiliated companies after having been granted shares around the same period. Each grandchild now holds shares worth 106.92 billion won.
In total, the value of the shares owned by the seven grandchildren reached 751 billion won, which jumped 12.3 times compared to the 61.1 billion won value earlier this year.
Even the price limits of Hanmi Pharmaceutical Co. and Hanmi Science went up in the securities market on November 6.
Jung Sun-sup, the head of Chebul.com, commented that under-aged stock billionaires that possess over 100 billion won worth of shares were born over night. “As Hanmi Pharmaceutical’s technology exports reached an all time high, the richest child stock billionaires were born.”
The number of children under the age of 19 (born after November 6, 1995) who held more than 100 million won in stocks was 366. This is a dramatic increase from the 262 in late September, with a surge of more than 100 in only two months.
Among the under-aged stock billionaires, the number of those who own shares with a value of more than 10 billion was 14, including Lim’s seven grandchildren.
By Francine Jung (email@example.com)