South Korea’s 50 Richest
HAM YOUNG-JOON: ALL THE NOODLES
The food industry executive breaks into the list for the first time, at No. 47
with a $725 million fortune. He inherited most of his father’s shares in the
family’s instant-food behemoth, Ottogi, after the patriarch, Ham Tae-Ho,
died in September at age 86. That boosted his stake to 29%. The younger
Ham, the family’s only son, took over the business in 2010, building its
market share in instant ramen. He now serves as chairman, and last year
the listed company generated $1.7 billion in sales and $114 million in net
profits. The first in the country to manufacture ketchup and mayonnaise,
Tae-Ho started the precursor to Ottogi in 1969 and later moved into three-
minute meals and frozen foods. Today, many of Ottogi’s products are No.
1 in their category in South Korea and the company is the only condiment
supplier to the country’s McDonald’s. The family’s Ottogi Foundation, set
up by Tae-Ho in 1996, provides financial aid to college students. The late
founder was also a generous giver to health care programs for children.
KIM JUNG-JU: GAME NOT OVER
The founder of Nexon, the country’s largest online-gaming outfit, won a
reprieve in December when a Seoul court found him not guilty of bribery
charges after he was indicted in July. He was accused of giving money to a
top prosecutor, Jin Kyung-Joon, a close friend he had met at Seoul National
University, in return for favors. While Kim did admit to giving money to Jin,
both were acquitted on the lack of evidence that any favors were granted,
though prosecutors plan to appeal. He issued a public apology after the
indictment and resigned from Nexon’s board. Kim, No. 7 on the list, remains
chairman of NXC, Nexon’s holding company, which is traded in Tokyo. His
net worth tumbled 27% over the past year.YONHAP NEWS/NEWSCOM (2)