As Korean financial stocks surge on the back of value enhancement initiatives, top executives are reaping substantial rewards. CEOs of the four major banking groups have seen their shareholdings increase by an average of 340 million KRW ($246,000).
As of Monday, shares of Korea’s four major banking groups — KB Kookmin, Shinhan, Hana, and Woori — have skyrocketed by an average of 58% this year. Shinhan, Hana, and Woori each hit record highs, closing at 71,800 KRW, 95,600 KRW, and 26,700 KRW, respectively. Hana and Woori continued their upward trajectory on Tuesday, testing new peaks.
KB Kookmin, the sector heavyweight, spearheaded last year’s banking rally with a 53% stock surge. Starting 2025 as one of the Kospi’s top 10 by market cap, it reached an all-time high of 122,000 KRW per share on July 8. This cemented its position at No. 5 with a market cap of 45.2 trillion KRW (33.9 billion USD), leapfrogging Hyundai Motor and Hanwha Aerospace.
The rally has bolstered shareholder returns, particularly benefiting top executives who championed stock buybacks in the name of responsible management.
Hana Financial Group CEO Ham Young-joo emerged as the biggest winner. His approximately 15,130 treasury shares have soared in value by over 600 million KRW (450,000 USD) this year to about 1.46 billion KRW (1.095 million USD), riding Hana’s 68% stock surge.
In percentage terms, Woori Financial Group CEO Yim Jong-yong saw the sharpest gain. The value of his holdings jumped by 74%, or 153.7 million KRW (115,275 USD), mirroring Woori’s 73% leap — the largest among the four banking groups.
Shinhan Financial Group CEO Jin Ok-dong, who holds the largest number of treasury shares among his peers at about 18,900, saw his stake appreciate by 460 million KRW (345,000 USD) to 1.36 billion KRW (1.02 million USD), in line with Shinhan’s 50% rise.
KB Financial Group CEO Yang Jong-hee also benefited, with the value of his roughly 5,450 shares climbing from about 452 million KRW (339,000 USD) to 646.5 million KRW (484,875 USD) — a gain of nearly 200 million KRW (150,000 USD) this year.
Gains are even more striking when measured against executives’ purchase prices.
Hana CEO Ham’s roughly 100,000 shares, bought at an average of 41,631 KRW, have more than doubled, surging 130%. Woori CEO Yim’s 10,000 shares, purchased at 11,800 KRW in September 2023, have skyrocketed 127%. Shinhan’s Jin, who acquired 5,000 shares at 34,350 KRW in June 2023, has seen them more than double to Monday’s close of 71,800 KRW.
KB CEO Yang’s 5,000 shares, bought at around 77,000 KRW in March 2024, have climbed 54% since purchase.
Some lower-ranking executives have demonstrated an even deeper commitment to stewardship through their shareholdings.
At Woori, Chief Financial Officer Lee Sung-wook owns 13,000 treasury shares — surpassing CEO Yim’s roughly 10,000. Lee reportedly executed eight separate buybacks from early 2020, when he joined the executive team, through September 2023.
Shinhan Bank CEO Jung Sang-hyuk, who serves as a registered non-executive director on the group’s board, holds 10,700 treasury shares, which have delivered a 77% return.
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