Korean Wave godfather hits jackpot with stock gains

SEOUL, Sept. 21 (Yonhap) -- South Korean entertainment mogul Lee Soo-man, who crafted idol groups Girls' Generation and Super Junior, topped the list of celebrity shareholders as his stock value soared to a record high, data showed Wednesday.
Lee, who founded S.M. Entertainment Co., saw his holdings reach 165.7 billion won (US$144.4 million) based on Tuesday's closing price of 41,000 won, becoming the richest-ever celebrity stockholder, according to the data by research firm Chaebul.com.
Lee holds a 24.4 percent stake in S.M. Entertainment, the stage-business incubator that has produced a spate of "Korean Wave" pop stars.
The "Korean Wave," also known as "Hallyu," refers to the phenomenon in which South Korean popular culture, ranging from television shows to pop singers, has spread abroad in recent years.
The share price of the entertainment firm listed on the Seoul main bourse more than doubled this year, up from 16,900 won on Dec. 30 of last year.



Meanwhile, YG Entertainment Co. chief Yang Hyun-suk came next with his shares valued at 83.9 billion won.
YG Entertainment, which represents Big Bang and 2NE1, is expected to list its shares on the local bourse next month. Its shares trade at around 47,000 won on the over-the-counter market.
Bae yong-joon, known as "Yonsama" among his massive Japanese fan base, ranked third with 12.1 billion won and JYP Entertainment chief Park Jin-young followed with 6.6 billion won.
mil@yna.co.kr
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