AISA: South Korea is notable for its rapid economic development from a developing to a developed, high-income country within a few generations. The “Han River Miracle” was coined to describe this economic expansion.

The economy of South Korea is a well-developed mixed economy. In terms of nominal GDP, it has the fourth-largest economy in Asia and the tenth largest in the world.

According to a report published this month in CEO World, Kwon Hyuk-bin is the wealthiest man in South Korea, with a calculated net worth of $9.3 billion US dollars, followed by Jay Y. Lee (No. 2, $8.8 billion), Seo Jung-jin (No. 3, $6.6 billion), and Kim Beom-su (No. 4, $5.6 billion).

With a fortune of $5.2 billion, Hong Ra-hee is South Korea’s fifth richest person. Chung Mong-Koo came in sixth place with $4.1 billion in personal wealth, followed by Cho Jung-ho with $3.9 billion. Song Chi-hyung is ranked eighth on the list, with a net worth of $3.6 billion while Lee Boo-jin ($3.6 billion) was ranked ninth among South Korea’s top ten wealthiest individuals.

SOUTH KOREA BILLIONAIRES LIST 2023 published by CEO World

1. Kwon Hyuk-bin: $9.3 billion
2. Jay Y. Lee: $8.8 billion
3. Seo Jung-jin: $6.6 billion
4. Kim Beom-su: $5.6 billion
5. Hong Ra-hee: $5.2 billion
6. Chung Mong-Koo: $4.1 billion
7. Cho jung-ho: $3.9 billion
8. Song Chi-hyung: $3.6 billion
9. Lee Boo-jin: $3.6 billion
10. Lee Seo-hyun: $3.2 billion

Another top 15 billionaires in this year’s complete 25 top list:

1. Yoo Jung-hyun: $3.1 billion
2. Euisun Chung: $3.0 billion
3. Suh Kyung-bae: $2.2 billion
4. Kim Chang-soo: $1.9 billion
5. Chey Tae-won: $1.9 billion
6. Kim Hyoung-nyon: $1.9 billion
7. Koo Kwang-mo: $1.9 billion
8. Bang Si-hyuk: $1.8 billion
9. Kim Taek-jin: $1.7 billion
10. Kim Jun-ki Kim Sang-yeol: $1.4 billion
11. Lee Hae-jin: $1.4 billion
12. Cho Young-sik: $1.4 billion
13. Chung Yong-jin: $1.3 billion
14. Lee Joong-keun: $1.2 billion
15. Koo Bon-sik: $1.2 billion.