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<DIV>
<DIV><FONT face="Bodoni MT" size=4>Forbes Korea has just published this very
useful list,</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>with thumbnail sketches, of what it would
doubtless</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>be unkind - despite Hanwha, Hyundai, SK et
al -</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>to call South Korea's filthy rich. (Certainly
unfair to</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>the </FONT><FONT face="Times New Roman" size=3><FONT face="Bodoni MT" size=4>Kiturami Boiler Culture Foundation [13],
whose</FONT></FONT></DIV>
<DIV><FONT face="Times New Roman" size=3><FONT face="Bodoni MT" size=4>thousands
of annual scholarships were news to me.)</FONT></FONT></DIV>
<DIV><FONT face="Times New Roman" size=3><FONT face="Bodoni MT" size=4></FONT></FONT> </DIV>
<DIV><FONT face="Bodoni MT" size=4>Lest anyone doubt the persistence of the
<EM>chaebol</EM>, </FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>over half (22) are family scions of just four
groups:</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4></FONT> </DIV>
<DIV><FONT face="Bodoni MT" size=4>9 Samsung
</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>5 Hyundai (but now 4
separate businesses)</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>5 LG/GS: four Koos
and a Huh</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>3 Lotte</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4></FONT> </DIV>
<DIV><FONT face="Bodoni MT" size=4>So in the endless quest to fund Korean
studies,</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>now you know who to tap. (NB too that at
least one</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>is an ex-academic, while three made their
fortunes</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>in education - albeit not higher
education.)</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4></FONT> </DIV>
<DIV><FONT face="Bodoni MT" size=4>It makes you think.</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4></FONT> </DIV>
<DIV><FONT face="Bodoni MT" size=4>May Day greetings to one and
all,</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4>Aidan</FONT></DIV>
<DIV><FONT face="Bodoni MT" size=4></FONT> </DIV>
<DIV>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-GB><FONT face="Times New Roman" size=3>AIDAN FOSTER-CARTER</FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN lang=EN-GB><FONT face="Times New Roman" size=3>Honorary Senior Research Fellow in Sociology &
Modern <st1:country-region w:st="on">Korea</st1:country-region>, <st1:place w:st="on"><st1:PlaceName w:st="on">Leeds</st1:PlaceName> <st1:PlaceType w:st="on">University</st1:PlaceType></st1:place> </FONT></SPAN></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3><FONT face="Times New Roman"><I style="mso-bidi-font-style: normal"><SPAN lang=EN-GB>Home address:</SPAN></I><SPAN lang=EN-GB> <st1:Street w:st="on"><st1:address w:st="on">17 Birklands Road</st1:address></st1:Street>,
Shipley, West Yorkshire, BD18 3BY, UK </SPAN></FONT></FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT face="Times New Roman"><I style="mso-bidi-font-style: normal"><SPAN lang=EN-GB style="FONT-SIZE: 11pt">tel:</SPAN></I><SPAN lang=EN-GB style="FONT-SIZE: 11pt">
+44(0)<SPAN style="mso-spacerun: yes"> </SPAN>1274<SPAN style="mso-spacerun: yes"> </SPAN>588586<SPAN style="mso-spacerun: yes">
</SPAN><I style="mso-bidi-font-style: normal">(alt)</I> +44(0) 1264 737634<SPAN style="mso-spacerun: yes">
</SPAN><I style="mso-bidi-font-style: normal">mobile:</I><SPAN style="mso-spacerun: yes"> </SPAN>+44(0)<SPAN style="mso-spacerun: yes"> </SPAN>7970<SPAN style="mso-spacerun: yes"> </SPAN>741307 <o:p></o:p></SPAN></FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT face="Times New Roman"><I style="mso-bidi-font-style: normal"><SPAN lang=EN-GB style="FONT-SIZE: 11pt">fax:</SPAN></I><SPAN lang=EN-GB style="FONT-SIZE: 11pt">
+44(0)<SPAN style="mso-spacerun: yes"> </SPAN>1274<SPAN style="mso-spacerun: yes"> </SPAN>773663<SPAN style="mso-spacerun: yes">
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589280<o:p></o:p></SPAN></FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT face="Times New Roman"><I style="mso-bidi-font-style: normal"><SPAN lang=EN-GB style="FONT-SIZE: 11pt">Email:</SPAN></I><SPAN lang=EN-GB style="FONT-SIZE: 11pt"> <A href="mailto:afostercarter@aol.com">afostercarter@aol.com</A><SPAN style="mso-spacerun: yes"> </SPAN><I style="mso-bidi-font-style: normal">(alt)</I> <A href="mailto:afostercarter@yahoo.com">afostercarter@yahoo.com</A><SPAN style="mso-spacerun: yes"> </SPAN><I style="mso-bidi-font-style: normal">website:</I> <A href="http://www.aidanfc.net/">www.aidanfc.net</A><o:p></o:p></SPAN></FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><I style="mso-bidi-font-style: normal"><SPAN lang=EN-GB style="FONT-SIZE: 10pt"><FONT face="Times New Roman">[Please use @aol; but if
any problems, please try @yahoo too – and let me know, so I can chide
AOL]</FONT></SPAN></I></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><I style="mso-bidi-font-style: normal"><SPAN lang=EN-GB style="FONT-SIZE: 10pt"><FONT face="Times New Roman"></FONT></SPAN></I> </P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><I style="mso-bidi-font-style: normal"><SPAN lang=EN-GB style="FONT-SIZE: 10pt"><FONT face="Times New Roman">__________________________</FONT></SPAN></I></P><SPAN lang=EN-GB style="FONT-SIZE: 10pt"><FONT face="Times New Roman">
<P><B><SPAN style="FONT-SIZE: 9.5pt; FONT-FAMILY: Arial">Forbes
Magazine</SPAN></B><BR><FONT face=Arial><STRONG><SPAN class=t1><SPAN style="FONT-SIZE: 15.5pt">The Top 40</SPAN></SPAN><BR></STRONG><SPAN class=tt1><SPAN style="FONT-SIZE: 8.5pt">Friday April 27 [2007] , 1:12 pm
ET</SPAN></SPAN></FONT><FONT size=3> <BR></FONT><SPAN class=au1><SPAN style="FONT-SIZE: 9.5pt"><FONT face=Arial>By Steven
Lee</FONT></SPAN></SPAN><FONT size=3> </FONT></P>
<P><A href="http://biz.yahoo.com/fo/070427/7013437c38b31b6014876671c704f390.html?.v=2"><FONT color=#800080 size=3>http://biz.yahoo.com/fo/070427/7013437c38b31b6014876671c704f390.html?.v=2</FONT></A></P>
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<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3>All things
considered, it was a decent year for <st1:country-region w:st="on"><st1:place w:st="on">South Korea</st1:place></st1:country-region>'s wealthiest citizens.
The nation's stock market took a hit last June on fears of a <st1:country-region w:st="on"><st1:place w:st="on">U.S.</st1:place></st1:country-region> slowdown
and has been in recovery mode ever since. Today the benchmark Kospi index stands
at 1500, up 9% from a year ago and up 29% from June 2006.</FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><o:p><FONT size=3> </FONT></o:p></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3>The top 40 richest
are worth a collective $36 billion, up $5 billion from last year and $15 billion
since our inaugural 2005 list. A net worth of $405 million was required, $60
million more than last year. </FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><o:p><FONT size=3> </FONT></o:p></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3>Samsung's Lee
Kun-Hee and Hyundai's Chung Mong-Koo remain the first- and second-richest
individuals, though both saw their fortunes slip. Chung has bigger problems;
he's currently out on bail appealing a three-year prison sentence after being
found guilty of embezzling company money. His lawyers claim the cash was used
for employee morale boosting activities. </FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><o:p><FONT size=3> </FONT></o:p></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3>His brother Chung
Mong-Joon, the list's only politician, saw a big jump in his fortune thanks to
the stock performance of shipbuilder Hyundai Heavy Industries, in which he has a
large stake. The five-term assemblyman is being wooed by Grand National Party
presidential hopefuls looking to land a wealthy, influential backer. </FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><o:p><FONT size=3> </FONT></o:p></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3><st1:place w:st="on"><st1:country-region w:st="on">South
Korea</st1:country-region></st1:place> is home to nine billionaires, up from six
last year, including Suh Kyung-Bae, chairman and chief executive of cosmetics
company Amorepacific. </FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><o:p><FONT size=3> </FONT></o:p></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3>The four newcomers
include Cha Yong Keu, a former Samsung executive who made his fortune in copper
mining in Kazakhstan; Kim Jun-Ki, the son of a well-known politician who founded
his own business almost 40 years ago; Sull Yoon-Suk, the list's youngest member
at 26, who inherited his fortune from his father who died in 2004; and Chung
Yoo-Kyung, whose father gave her some of his own shares in Shinsegae retailer.
Her brother Chung Yong-Jin moved up 11 spots this year to No. 10, thanks to an
even larger gift from Dad. The family subsequently paid $370 million as gift
tax, setting a national record. </FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><o:p><FONT size=3> </FONT></o:p></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3>A notable dropoff
was Kim Ta ck-Jin, the founder of NCsoft, who fell off because of his online
gaming outfit's faltering stock. </FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><o:p><FONT size=3> </FONT></o:p></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3>Our wealth
statistics were compiled using disclosed stock holdings of listed companies; for
privately held companies we estimate what companies would be worth if listed.
Stock prices and exchange rates were locked in on Apr. 13. Unlike the FORBES
billionaires list, which included the wealth of Lee Kun-Hee's wife, Hong Ra-Hee,
in his fortune, this list breaks out all individuals. </FONT></P>
<P><FONT size=3>List by Steven Lee. Assisted by FORBES <st1:country-region w:st="on"><st1:place w:st="on">KOREA</st1:place></st1:country-region>, Suzanne
Nam and Chaniga Vorasarun. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><o:p><FONT size=3> </FONT></o:p></B></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>1. Lee Kun-Hee $2.32
billion 65. Married, 3 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Has run <st1:place w:st="on"><st1:City w:st="on">Samsung</st1:City>, <st1:country-region w:st="on">South
Korea</st1:country-region></st1:place>'s largest conglomerate, for 2 decades.
Its Samsung Electronics accounts for close to a fifth of nation's exports.
Samsung affiliates include country's largest insurance companies. Lee owns most
expensive home in <st1:City w:st="on"><st1:place w:st="on">Seoul</st1:place></st1:City>, according to tax authority.
International Olympic Committee member, has skied for several years and recently
went skiing in Pyeongchang, in part to support <st1:country-region w:st="on"><st1:place w:st="on">South Korea</st1:place></st1:country-region>'s
bid for 2014 Winter Olympics. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>2. Chung Mong-Koo $2.29
billion 69. Married, 4 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Hyundai Motor chairman is out on bail after being sentenced in
February to a 3-year prison term on embezzlement charges. Remains chairman while
appealing. Apparently won court approval in April for overseas business trips.
Received nation's biggest dividend check last year. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>3. Shin Dong-Bin $1.9
billion 52. Married, 3 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Younger son of Lotte Group founder Shin Kyuk-Ho. Serves as vice
chairman of the conglomerate, which has stakes in retailing, food,
petrochemicals and theme parks. Group recently bought 51% of cable shopping
company Woori Home Shopping, then got into ugly legal fight with 47%
stake-holder Taekwang Group, led by chairman Lee Ho-Jin (No. 34), over control.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>4. Jay Y. Lee $1.85
billion 39. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Son of Samsung Chairman Lee Kun-Hee (No. 1). Promoted to chief
customer officer of Samsung Electronics in January; works as an internal
advocate for customers while building strategic alliances with partner
companies. There is an ongoing investigation involving his acquisition of a 25%
stake in Samsung Everland from his father at alleged below-market rates.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>5. Shin Dong-Joo $1.84
billion 53. Married, 1 child <o:p></o:p></FONT></B></P>
<P><FONT size=3>Oldest son of Shin Kyuk-Ho (No. 23) is vice president of Lotte
<st1:country-region w:st="on">Japan</st1:country-region> and lives in <st1:place w:st="on"><st1:City w:st="on">Tokyo</st1:City></st1:place>. Sits on boards of
Lotte Chilsung Beverage, Lotte Hotel and Lotte Aluminum. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>6. Chung Mong-Joon $1.8
billion 55. Married, 4 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Son of Hyundai's founder is the largest shareholder of world's
largest shipbuilder, Hyundai Heavy Industries, whose shares have more than
doubled in the past year. But politics not business is his passion: a 5-term
national assemblyman, ran unsuccessfully for president in 2002; now is
reportedly being wooed as a backer by the 2 Grand National Party presidential
hopefuls, including Seoul's mayor. Member of FIFA's executive committee.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>7. Lee Myung-Hee $1.79
billion 64. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3><st1:place w:st="on"><st1:country-region w:st="on">Korea</st1:country-region></st1:place>'s richest woman is Lee
Kun-Hee's younger sister. Chairs fast-growing retailer Shinsegae, which bought
<B>Wal-Mart</B> (NYSE:</FONT><A href="http://finance.yahoo.com/q?s=wmt"><FONT size=3>WMT</FONT></A><FONT size=3> - </FONT><A href="http://finance.yahoo.com/q/h?s=wmt"><FONT size=3>News</FONT></A><FONT size=3>)'s South Korean stores last year. Has joint venture with
<B>Starbucks</B> (NasdaqGS:</FONT><A href="http://finance.yahoo.com/q?s=sbux"><FONT size=3>SBUX</FONT></A><FONT size=3> - </FONT><A href="http://finance.yahoo.com/q/h?s=sbux"><FONT size=3>News</FONT></A><FONT size=3>) to operate its 200-plus coffee shops in
<st1:country-region w:st="on"><st1:place w:st="on">South
Korea</st1:place></st1:country-region>. Company is family affair: husband is
honorary chairman, son is vice chairman, daughter works in the hotel group.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>8. Cha Yong Keu $1.4
billion 51. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Former Samsung executive stepped down as chief executive of
copper mining giant Kazakhmys in December. Cashed out his stake over last 8
months for estimated $1.4 billion. (Click here for story) </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>9. Suh Kyung-Bae $1.1
billion 44. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Heads cosmetics company Amorepacific, which controls one-third
of <st1:place w:st="on"><st1:country-region w:st="on">South
Korea</st1:country-region></st1:place>'s market. Grew up next door to company's
headquarters and was the only one of 6 siblings to take an interest in the
business built by his father, Suh Sung-Whan. Joined Amorepacific in 1980s after
earning an M.B.A. from <st1:place w:st="on"><st1:PlaceName w:st="on">Cornell</st1:PlaceName> <st1:PlaceType w:st="on">University</st1:PlaceType></st1:place>. Facing tougher rivals,
slowdown at home, but consumer shift to premium cosmetics may help offset woes.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>10. Chung Yong-Jin $975
million 39. Divorced, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Only son of Shinsegae Chairwoman Lee Myung-Hee is the retailer's
vice chairman. In September his father gave him Shinsegae shares, helping to
boost his fortune. In April the family paid approximately $370 million to the
tax authority, setting a national record for gift tax. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>11. Shin Chang-Jae $950
million 54. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Once a professor at <st1:place w:st="on"><st1:PlaceName w:st="on">Seoul</st1:PlaceName> <st1:PlaceName w:st="on">National</st1:PlaceName> <st1:PlaceType w:st="on">University</st1:PlaceType></st1:place>, he joined Kyobo Life, which
his father founded, as vice chairman in 1996. Now chairman, is focusing on
improving profitability of group, <st1:country-region w:st="on"><st1:place w:st="on">South Korea</st1:place></st1:country-region>'s third-largest life
insurance outfit. In February sold 5% stake to <st1:country-region w:st="on"><st1:place w:st="on">Japan</st1:place></st1:country-region>'s SBI
Holdings. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>12. Chang Pyung-Soon
$945 million 56. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Sold books door-to-door in early 1980s. Eventually founded
Kyowon Group, now one of <st1:country-region w:st="on"><st1:place w:st="on">South Korea</st1:place></st1:country-region>'s largest educational
companies. Has 4 subsidiaries, including Kyowon L&C Co., which employs more
than 10,000 teachers, 200 editors and 30,000 salespeople. Has expanded into
water purifiers, bidets, cosmetics and underwear. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>13. Choi Jin-Min $930
million 66. Married, 5 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Founder and honorary chairman of privately held Kiturami, South
Korea's largest boilermaker, producing more than 2 million a year. Makes 300
products, including air conditioners and gas-leak alarms, which are sold in 18
countries. Founded Kiturami Boiler Culture Foundation, which grants scholarships
to thousands of students each year. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>14. Chey Tae-Won $810
million 47. Married, 3 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>SK Group chairman. Convicted of accounting fraud in 2003; spent
3 months in jail, then returned to helm. In apparent move to improve corporate
governance, announced plans to split into 2 companies; one will hold its
oil-related subsidiaries including nation's largest refiner, the other will hold
SK Telecom, nation's biggest wireless telecom, and SK Shipping. Enjoys playing
basketball with his kids on weekends. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>15. Huh Chang-Soo $805
million 59. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Chairman of GS Holdings, which split from LG Group in 2004. GS
has businesses in cable, chemicals, construction and oil. Known as the "hermit
manager" because of his low profile. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>16. Kim Seung-Youn $800
million 55. Married, 3 children <o:p></o:p></FONT></B></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><FONT size=3>Heads explosives
maker Hanwha. His father, the group's founder, was nicknamed "Dynamite Kim."
Also has interests in trading, finance, construction and insurance. Set up
<st1:place w:st="on"><st1:PlaceName w:st="on">Hanwha</st1:PlaceName>
<st1:PlaceName w:st="on">Environment</st1:PlaceName> <st1:PlaceName w:st="on">Research</st1:PlaceName> <st1:PlaceType w:st="on">Center</st1:PlaceType></st1:place> to develop eco-friendly products.
His son won gold medal in equestrian dressage at 2006 Asian Games. [<EM>AFC
adds</EM>: Currently accused of assault, kidnapping and more: see eg <SPAN style="FONT-SIZE: 11pt"><o:p></o:p></SPAN></FONT></P>
<P class=MsoNormal style="MARGIN: 0cm 0cm 0pt"><SPAN style="FONT-SIZE: 11pt"><A href="http://www.koreatimes.co.kr/www/news/nation/nation_view.asp?newsIdx=2084&categoryCode=117"><FONT color=#800080>www.koreatimes.co.kr/www/news/nation/nation_view.asp?newsIdx=2084&categoryCode=117</FONT></A>
]<o:p></o:p></SPAN></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>17. Yoon Seok-Keum $790
million 62. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Founder and chairman of Woongjin Group, maker of educational
books, air and water purifiers, and traditional Korean beverages. Latest venture
reportedly involves making components for solar panels. He also owns interest in
a country club. Got start as an encyclopedia salesman. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>18. Kang Young-Joong
$720 million 58. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Heads Daekyo group, one of country's biggest providers of
after-school private education. Name means "big lesson." A few months ago bought
online education firm Fermat Ed. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>19. Lee Jay-Hyun $715
million 47. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Grandson of Samsung founder Lee Byung-Chull chairs Cheil Jedang
(CJ), originally Samsung's food-services arm. Recently signed deal to enter
<st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region>'s tofu market. Expanding into
entertainment, home shopping, logistics. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>20. Hong Ra-Hee $700
million 62. Married, 3 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Wife of Korea's richest man, Lee Kun-Hee, and director-general
of Leeum, Samsung Museum of Art, funded by the Samsung Foundation of Culture.
Her brother runs one of the nation's biggest newspaper companies, JoongAng Ilbo,
whose affiliates include FORBES <st1:country-region w:st="on"><st1:place w:st="on">KOREA</st1:place></st1:country-region>. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>21. Koo Bon-Moo $670
million 62. Married, 3 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Heads $91 billion (2006 sales) LG Group, <st1:place w:st="on"><st1:country-region w:st="on">South
Korea</st1:country-region></st1:place>'s second-largest chaebol, which is
celebrating its 60th anniversary this year. Avid golfer, bird-watcher.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>22. Chung Mong-Jin $665
million 47. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Heads chemical giant KCC, founded in 1958, which makes paints,
glass, building materials and flooring. Operates in a dozen countries. His
father is Hyundai founder's youngest brother. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>23. Shin Kyuk-Ho $660
million 85. Married, 3 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Oldest list member, got start selling chewing gum. Eventually
built Lotte Group, which includes retail, fast food, sports teams, candy,
hotels, theme parks. Remains chairman. Took Lotte Shopping public last year in
nation's biggest-ever public offering not involving sale of state assets.
Attempting to build <st1:country-region w:st="on"><st1:place w:st="on">South
Korea</st1:place></st1:country-region>'s tallest building, perhaps as a last
hurrah. Already transferred much of his wealth to his 2 sons, now billionaires.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>24. Park Moon-Deuk $650
million 57. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Chairs Hite Brewery, <st1:place w:st="on"><st1:country-region w:st="on">South Korea</st1:country-region></st1:place>'s largest brewer. Stock
has stagnated lately as initial euphoria fades over its 2005 acquisition of
Jinro, nation's largest liquormaker. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>25. Chung Mong-Gyu $645
million 45. Married, 3 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Chairman of construction firm Hyundai Development, founded by
his late father. Benefiting from booming housing market. Convicted of
embezzlement late last year, fined $30,000; has appealed. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>26. Kim Nam-Goo $640
million 44. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Largest shareholder and president of Korea Investment Holdings,
a listed financial services company. His father, who founded predecessor
company, is said to have ordered Kim to spend 6 months on a fishing boat to
learn the original family business of fishing. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>27. Koo Bon-Neung $620
million 58. Married, 1 child <o:p></o:p></FONT></B></P>
<P><FONT size=3>Heads Heesung Group, which sells display components to LG, run
by his older brother, Koo Bon-Moo. Allowed his brother to adopt his only son,
who now works at LG Electronics. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>28. Kim Jung-Joo $590
million 39. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Founded online gaming outfit Nexon in 1994. Best known for
car-racing game, Kart Rider. Recently inked strategic partnership with MTV, is
making forays into <st1:country-region w:st="on">U.S.</st1:country-region> and
<st1:country-region w:st="on"><st1:place w:st="on">Japan</st1:place></st1:country-region>. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>29. Chung Eui-Sun $560
million 37. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Oldest son of Hyundai Motor chairman, Chung Mong-Koo (No. 2), is
president of Kia Motors. Investigated last year on suspicion of creating slush
funds to bribe officials; his indictment was suspended. With his father,
announced plans to donate stakes in affiliated logistics company Glovis, at
center of scandal. Still haven't given away the shares, now worth about $740
million. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>30. Lee Joon-Yong $540
million 69. Married, 5 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Runs Daelim Industrial, a diversified construction company also
involved in petrochemicals. Recently awarded contract to build polycarbonate
plant in <st1:country-region w:st="on"><st1:place w:st="on">Saudi
Arabia</st1:place></st1:country-region>, reportedly worth $1 billion.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>31. Koo Bon-Joon $500
million 56. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Third son of LG Group honorary chairman Koo Ja-Kyung. Recently
stepped down as chief executive of LG Philips LCD, LG's troubled joint venture
with Dutch electronics giant Philips. Now runs LG International, a trading
company affiliated with LG Group. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>32. Koo Bon-Sik $495
million 49. Married, 3 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Fourth son of LG Group honorary chairman Koo. Heads LG affiliate
Heesung Electronics, which supplies backlights to illuminate LCD displays.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>33. Moon Kyu-Young $480
million 56. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Chairman of privately held concretemaker Aju, which also has
holdings in storage, car rental, finance, hotels. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>34. Lee Ho-Jin $475
million 45. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Chairman of Taekwang Group, with interests in textiles,
petrochemicals, finance, media. Battling Lotte's Shin family for control of
Woori Home Shopping. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>35. Chung Yoo-Kyung $470
million 35. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Only daughter of Shinsegae head, Lee Myung-Hee. Father gave her
$320 million worth of retailer's shares last September. The family later paid a
record gift tax. Has stake in a profitable bakery. Husband works for Shinsegae.
</FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>36. Sull Yoon-Suk $450
million 26. Married, 1 child <o:p></o:p></FONT></B></P>
<P><FONT size=3>Youngest list member inherited shares in Taihin Electric Wire
Group, one of country's largest cablemakers, from late father, Sull Won-Ryang,
who died in 2004. Has no management role. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>37. Kim Jun-Ki $430
million 62. Married, 2 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Son of a former deputy speaker in the Korean parliament, Kim
founded a construction company at age 24 with 2 employees and the equivalent of
$25,000. Today heads sprawling $9 billion group (2004 sales) with 18 affiliated
companies in steel, chemicals, financial services. [<EM>This is <B style="mso-bidi-font-weight: normal">Dongbu</B> –
AFC</EM>]<o:p></o:p></FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>38. Lee Boo-Jin $410
million 37. Married, no children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Lee Kun-Hee's oldest daughter is vice president of
Samsung-affiliated Shilla Hotel in <st1:place w:st="on"><st1:City w:st="on">Seoul</st1:City></st1:place>. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>38. Lee Seo-Hyun $410
million 34. Married, 3 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Lee Kun-Hee's second daughter is vice president of Samsung-
affiliated Cheil Industries, a textile and chemical company. </FONT></P>
<P><B style="mso-bidi-font-weight: normal"><FONT size=3>40. Cho Yang-Rai $405
million 70. Married, 4 children <o:p></o:p></FONT></B></P>
<P><FONT size=3>Chairs Hankook Tire group, world's seventh-largest tiremaker. On
a roll: sales grew 20% last year to $3 billion, the highest growth rate of any
of the world's top 10 tiremakers. Has operations in <st1:country-region w:st="on">China</st1:country-region>, Europe and U.S. Cho's son is married to
the daughter of <st1:City w:st="on"><st1:place w:st="on">Seoul</st1:place></st1:City>'s mayor, who is now running for
president. </FONT></P>
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