SINGAPORE (June 2, 2021) – Optimism surrounding South Korea’s economic recovery energized its stock market, lifting the fortunes of its wealthiest people. This year’s Forbes Korea Rich List saw a record number of 46 billionaires and collective wealth of the 50 richest rose by over 40% to US$156 billion, up from $110.8 billion previously. The complete list can be found here and in the June issue of Forbes Asia and the July issue of Forbes Korea.
Poised for one of the world’s fastest comebacks, the country reported GDP growth of 1.6% in the first quarter, surpassing pre-pandemic levels with consumption, exports and investments all rebounding. The benchmark Kospi index was up 47% since fortunes were last measured 11 months ago.
This year’s list saw a change at the very top. Pharma magnate Seo Jung-jin, cofounder of Celltrion, is the new No. 1. The first self-made billionaire to top the list since it was launched in 2005, Seo now boasts a net worth of $12.5 billion, thanks…