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This story is part of Forbes’ coverage of Korea’s Richest 2026. See the full list here.
With demand for semiconductors skyrocketing thanks to the AI boom, South Korean manufacturers of products such as memory chips and chipmaking equipment are reaping a bonanza. The country’s stock market was the world’s top performer in the past 12 months, with the benchmark Kospi index more than doubling since fortunes were last measured nearly a year ago. The buoyancy pushed the collective net worth of the nation’s 50 richest to an all-time high of $175 billion, up 77% from $99 billion last year.
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Overall, 34 tycoons are richer, led by Samsung Electronics executive chairman Jay Y. Lee, who reclaims the No. 1 spot after slipping from that ranking last year. Lee, whose company is the world’s largest memory chipmaker by sales, added $13.8 billion to his riches—the largest jump in dollar terms—lifting his fortune to $21.6 billion.
In second place is last year’s richest person, Michael Kim, cofounder of private equity giant MBK Partners, with $9.9 billion. Despite being buffeted by its troubled retailer Homeplus filing for corporate rehabilitation, MBK managed to raise $5.5 billion for an Asia-focused buyout fund in November.
Celltrion cofounder Seo Jung-jin, the third richest, is among the big gainers, with his wealth climbing to $8.1 billion from $6.3 billion. Shares of the drugmaker rallied 30% over the past year as it embarked on an expansion drive. After sealing a deal in January to acquire a U.S. factory from American pharma giant Eli Lilly for $330 million, Celltrion outlined plans in March to invest over $800 million to scale up its domestic production capacity.
Billionaire Kwak Dong Shin, chairman and CEO of Hanmi Semiconductor, is the biggest winner in percentage terms, notching up over a fourfold increase in his wealth to $5.7 billion. That’s in line with the rise in shares of his company, which produces chipmaking gear. The jump places him at No. 11, up from No. 22 last year.
The seven new faces this year include three from the country’s fast-rising biotech sector, such as Lee Sang-hoon, founder and CEO of ABL Bio, who joins the ranks with a $1.4 billion fortune. The company inked a $2.6 billion licensing and joint research agreement with Eli Lilly in November to develop therapies using the former’s proprietary technology for diseases such as Alzheimer’s and Parkinson’s.
The newcomers who benefited from the AI boom include Sung Kyu-dong, founder and CEO of EO Technics, which makes laser-based equipment used in the production of memory chips. The electrical engineer founded the company in 1989 in Anyang, south of Seoul. Another recently minted billionaire is Kim Sang-beom, chairman of ISU Group, which includes ISU Petasys, a supplier of printed circuit boards to companies such as Nvidia and Microsoft.