Page 75 - Forbes - Asia (June 2018)

THE LIST

18. LEE JAY-HYUN
$1.95 BILLION
CJ GROUP AGE: 58
19. LEE SEO-HYUN S
$1.9 BILLION
SAMSUNG C&T
AGE: 44
20. LEE JOONG-KEUN
$1.8 BILLION T
BOOYOUNG AGE: 77
21. KIM JUN-KI
$1.65 BILLION S
KIM BEOM-SU, NO. 13 LEE JOON-HO, NO. 35 DONGBU AGE: 73

Owns 22% of Korean fintech startup Dunamu, Chairs NHN Entertainment,
which last October launched what is now which backed OKCoin’s 22. LEE HO-JIN
South Korea’s largest exchange, Upbit. Also launch of a crypto exchange $1.55 BILLION S
backed by his internet giant Kakao, Upbit in South Korea in January. TAEKWANG INDUSTRIAL
handles trading in 138 coins in 260 markets OKCoin was China’s biggest AGE: 55
worldwide. such exchange before Beijing 23. CHANG PYUNG-SOON
banned crypto trading last $1.54 BILLION
year. KYOWON GROUP
AGE: 67
24. KIM TAEK-JIN
$1.53 BILLION
NCSOFT AGE: 51
25. CHEY KI-WON
LEE SANG-HYUK, NO. 40
$1.5 BILLION S
His Yello Mobile, an incuba- SK HOLDINGS AGE: 53
tor and investor in apps,
bought 52% of Dayli Financial 26. CHUNG YONG-JIN
Group for $105 million last $1.49 BILLION S
September. E-MART & SHINSEGAE
Dayli owns Coinone, which AGE: 49
last year was one of South
Korea’s largest cryptocurren- 27. HUR YOUNG-IN
cy exchanges. Also spent $70 $1.47 BILLION S
million in January for 35% of PARIS-CROISSANT FOOD
AGE: 69
Moda, a maker of wireless
LEE HAE-JIN, NO. 48 equipment that is shifting
His Naver, the country’s leading search engine, its business to gaming and 28. CHO JUNG-HO
$1.42 BILLION S
poured $300 million into blockchain and other cryptocurrency. MERITZ FINANCIAL GROUP

pioneering technologies in the first quarter of AGE: 59
this year. Naver’s mobile messenger Line is also
making forays into digital currencies though 29. CHUNG MONG-JOON
two of its subsidiaries. $1.4 BILLION
HYUNDAI HEAVY INDUSTRIES
AGE: 66
30. LEE HWA-KYUNG
domestic market,” says Hong. “he preference for technology underlying the digital tokens. $1.3 BILLION S

ORION AGE: 62
risk in the market supplies liquidity in bitcoin.” Game makers such as Nexon, Smilegate, Net-
31. KIM NAM-JUNG
And South Korea bans most forms of gambling, so marble and NHN Entertainment have delved into $1.26 BILLION T
players didn’t have that option. So risk-takers were cryptocurrency, which has long drawn interest as a DONGWON AGE: 45
ready to pour hot money into digital currencies. replacement for in-game currencies that would help 32. SHIN DONG-GUK
With high mobile-phone penetration—mobile users easily purchase game items and make transac- $1.2 BILLION 3
HANMI SCIENCE
transfers are instantaneous, with no holding time tions more transparent. Game makers would like to AGE: 68
at the bank—and a highly urbanized population in stamp out speculation on items and the distribu-
33. SHIN DONG-BIN

which trends and news spread like wildi re, South tion of unauthorized items. hey believe that if $1.19 BILLION
LOTTE AGE: 63
Korea became the perfect test bed for crypto. digital currencies only could be used to buy game
e

Ater the crash in January the Kimchi Pre- items, these practices would end. “h connection 34. KOO BON-SIK
$1.18 BILLION S
mium lost its kick as regulators put guardrails on between games and cryptocurrency is huge,” said HEESUNG & LG
the speculators and trading calmed down. But the Netmarble Chairman Bang Jun-Hyuk in February. AGE: 59
country’s leading companies and banks continue Jinyoung Park and Yohan Yun contributed to
SUP MORE THAN 10% TDOWN MORE THAN 10%
this article. ÌNEW TO LIST 3RETURNEE
LEE HAE-JIN: ALAIN JOCARD/AFP/GETTY IMAGES to invest in cryptocurrencies and blockchain, the
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