Samsung patriarch Lee and son stay as No. 1 and 2 richest shareholders in Korea

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Samsung Group’s bed-ridden chairman Lee Kun-hee last year remained as the richest shareholder in South Korea – a title he kept for 11 consecutive years. He was trailed by his only son and the group’s de-factor leader Jay Y. Lee.

The head of the country’s largest business group received 474.8 billion won ($389.9 million) in dividend income in fiscal 2019 and the younger Lee, Samsung Electronics vice chairman, 142.6 billion won, according to local industry tracker CEO Score on Wednesday. The elder Lee has been the country’s highest paid individual in terms of dividend income since 2009.

Hong Ra-hee, wife of Samsung Group chief also ranked top 5 after receiving 76.7 billion won. The Lee family daughters – Hotel Shilla CEO Lee Bu-jin and Samsung Welfare Foundation Chairwoman Lee Seo-hyun – were tied at 11th with 28.2 billion won.

Hyundai family members made the rest of top 5. Hyundai Motor Group Chairman Chung Mong-koo ranked third with 93.3 billion won received in dividend income from the automotive empire. Chung Mong-joon, the largest shareholder of shipbuilder Hyundai Heavy Industries, came fourth on the list after receiving 77.7 billion won.

CEO Score said 658 of the total 2,355 publicly trading companies announced their dividend payment plans for fiscal 2019 as of Feb. 21. Their combined dividend payouts amount to 27.9 trillion won.

Tech giant Samsung Electronics Co. was the most generous in dividend payments, doling out 9.6 trillion won in dividends to its stockholders. Hyundai Motor Co. came second with 1.05 trillion won, followed by Shinhan Financial Group Co. with 883.9 billion won, KB Financial Group with 861.1 billion won, and steelmaker POSCO with 801.2 billion won. SK Hynix Inc., the country’s second largest memory chipmaker, paid out 684.0 billion won in dividends for fiscal 2019, down 33.3 percent from the previous year.

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The company with the highest dividend yield, or the dividend measured as a percentage of the share price, was passenger transportation service provider Dongyang Express Corp. with 16.9 percent. Korean Ratings Corp. was second with 14.3 percent, and education service provider Woongjin Thinkbig Co. came third with 12.6 percent.

By Cho Jeehyun

[ⓒ Pulse by Maeil Business News Korea &, All rights reserved]



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