The total value of shares held by Hyundai Automotive Group chairman Chung Mong-koo have soared in the past two months, significantly reducing the gap with Samsung Group chairman Lee Kun-hee, the Korea Stock Exchange (KSE) said on September 30, 2004.
Chairman Chung’s stakes in four listed affiliates of the group were valued at $1 billion as of last week. Chung owns 7.93 percent in Hyundai Mobis, 5.2 percent in Hyundai Motor, 10.8 percent in INI Steel and 10 percent in Hyundai Hysco.
``The rise in stock prices of Hyundai Automotive Group affiliates pushed the value of Chung’s shareholdings,” a KSE official said.
Shares of Hyundai Motor have jumped 25 percent since August, setting a historic high on Sept. 20. Hyundai Mobis has also climbed more than 22 percent in the two months while INI Steel has also advanced.
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