Introducing Korea's richest people of 2020: more than half of Korea's biggest fortunes took a hit from the pandemic
This story is part of Forbes' coverage of Korea’s Richest 2020. See the full list After earning plaudits for successfully flattening the coronavirus curve earlier this year, South Korea is now fighting a second outbreak and bracing for possible continued economic contraction. With the benchmark Kospi virtually flat from a year ago, the collective wealth of the 50 richest, at $110.8 billion, was nearly unchanged from last year’s $110 billion.
suffered the biggest decline to his wealth in both percentage and dollar terms, shedding 44% of his net worth, to $1.4 billion. Shares in his Hanmi Science dipped after U.S. pharma giant Johnson & Johnson nixed a deal worth $810 million for an obesity and diabetes treatment, citing Hanmi’s failure to meet internal standards; the shares have yet to recover. “In phase-2 studies, the treatment showed excellent efficacy in reducing weight in obese people with or without diabetes.
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