This story is part of Forbes’ coverage of Korea’s Richest 2026. See the full list here.

With demand for semiconductors skyrocketing thanks to the AI boom, South Korean manufacturers of products such as memory chips and chipmaking equipment are reaping a bonanza. The country’s stock market was the world’s top performer in the past 12 months, with the benchmark Kospi index more than doubling since fortunes were last measured nearly a year ago. The buoyancy pushed the collective net worth of the nation’s 50 richest to an all-time high of $175 billion, up 77% from $99 billion last year.

Overall, 34 tycoons are richer, led by Samsung Electronics executive chairman Jay Y. Lee, who reclaims the No. 1 spot after slipping from that ranking last year. Lee, whose company is the world’s largest memory chipmaker by sales, added $13.8 billion to his riches—the largest jump in dollar terms—lifting his fortune to $21.6 billion.

In second place is last year’s richest person, Michael Kim, cofounder of private equity giant MBK Partners, with $9.9 billion. Despite being buffeted by its troubled portfolio company Homeplus filing for corporate rehabilitation, MBK managed to raise $5.5 billion for an Asia-focused buyout fund in October.

Celltrion cofounder Seo Jung-jin, the third richest, is among the big gainers, with his wealth climbing to $8.1 billion from $6.3 billion. Shares of the drugmaker rallied 30% over the past year as it embarked on an expansion drive. After sealing a deal in January to acquire a U.S. factory from American pharma giant Eli Lilly for $330 million, Celltrion outlined plans in March to invest over $800 million to scale up its domestic production capacity.

Billionaire Kwak Dong Shin, chairman and CEO of Hanmi Semiconductor, is the biggest winner in percentage terms, notching up over a fourfold increase in his wealth to $5.7 billion. That’s in line with the rise in shares of his company, which produces chipmaking gear. The jump places him at No. 11, up from No. 22 last year.

The seven new faces this year include three from the country’s fast-rising biotech sector, such as Lee Sang-hoon, founder and CEO of ABL Bio, who joins the ranks with a $1.4 billion fortune. The company inked a $2.6 billion licensing and joint research agreement with Eli Lilly in November to develop therapies using the former’s proprietary technology for diseases such as Alzheimer’s and Parkinson’s.

The newcomers who benefited from the AI boom include Sung Kyu-dong, founder and CEO of EO Technics, which makes laser-based equipment used in the production of memory chips. The electrical engineer founded the company in 1989 in Anyang, south of Seoul. Another recently minted billionaire is Kim Sang-beom, chairman of ISU Group, which includes ISU Petasys, a supplier of printed circuit boards to companies such as Nvidia and Microsoft.

Among the half a dozen returnees to the list is Kim Hyoung-nyon (No. 43), cofounder and vice-chairman of crypto exchange operator Dunamu, which agreed in November to be acquired in an all-stock deal by Lee Hae-jin’s (No. 38) internet giant Naver. The deal also more than doubled the wealth of Dunamu cofounder and chairman Song Chi-hyung (No. 25) to $2.3 billion.

The minimum net worth to qualify is now $1 billion, up from $665 million.

Full Coverage of Korea’s Richest 2026:

• Samsung’s Jay Y. Lee Is Once Again South Korea’s Richest Person On Sizzling Sales Of AI Chips
• Hyundai Motor Chairman Doubles Down On AI And Robotics
• K- Beauty Craze Lands Founder Of Skincare Device Firm In Ranks Of South Korea’s Richest
• Payday For Korean Crypto Exchange Cofounders After Multi-Billion Dollar Deal With Naver
• From Makers Of Weight-Loss Pills To Anti-Wrinkle Shots, Meet South Korea’s Lab-Grown Billionaires

—With additional reporting from Zinnia Lee.

Methodology

This list was compiled using shareholding and financial information obtained from the families and individuals, stock exchanges, annual reports, analysts, government agencies and other sources. Net worths were based on stock prices and exchange rates as of the close of markets on March 27, 2026 and private companies were valued based on similar companies that are publicly traded. Real-time net worths on Forbes.com may reflect different valuations. The ranking lists both individual and family fortunes, including those shared among relatives and may differ from the World’s Billionaires List, which includes individual fortunes with net worths as of March 1. The list can also include foreign citizens with business, residential or other ties to the country, or citizens who don’t reside in the country but have significant business or other ties to the country. The editors reserve the right to amend any information or remove any listees in light of new information