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April 2009
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LESSON 38-Best way 2 rejoice Ambedkar Jayanthi! Vote Mayawati! As PM 2 get the Master Key! Elephant is the symbol of BSP! SMS this 2 ur Pals, do Door 2 Door Campaign and B Happy!-Make me PM Write Down on the Wall was Dr. Ambedkar’s Sign ! Two Thousand Nine ! Will Be Mine !- Says Ms Mayawati Bahen ! Now is all that you have! By voting for Mayawati, the Nation you save ! 2008 Bahen Mayawati the UttarPradesh Chief Minister 2009PrabuddhaBharatha Matha the Prime Minister !-Mayawati accuses Election Commission of favouring opposition
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Mayawati accuses Election Commission of favouring opposition

LUCKNOW - Chief Minister Mayawati Wednesday accused the Election
Commission of being biased towards opposition parties in Uttar Pradesh,
reacting sharply to the poll panel’s order to remove the state’s
principal home secretary.

Addressing a hurriedly convened press conference just before flying
off to Maharashtra for her election campaign, Mayawati said: ‘Removal
of the state’s principal home secretary Fateh Bahadur was arbitrary and
has apparently been done simply on the basis of flimsy, false and
one-sided complaints made by some opposition parties.’

Mayawati, who is chief of the ruling Bahujan Samaj Party, said: ‘The
least that the Election Commission should have done is to authenticate
these complaints before ordering such a drastic step.’

‘In the past also, the poll panel went about ordering the removal of
some district magistrates and superintendents of police, besides some
lower officials without verifying facts, which is not being fair to the
state government.’

She alleged that many new appointments were ‘made directly by the
commission without even seeking a panel from the state government’.

‘The Uttar Pradesh government is committed to strictly adhering to
the norms and rules laid down by the Election Commission and I have
also issued firm directives not only to my officials but also to party
candidates and workers not to allow the slightest violation of the
Election Commission’s model code of conduct.’

‘I would like to make an humble appeal to the Election Commission to
point out any violation in the code of conduct or in the guidelines
given by it. I can assure them that corrective action would be taken
promptly by the state government, but it should not be guided by
baseless and false complaints made by the opposition.’

She warned: ‘If the commission continues with such arbitrary
practices, then let me tell them that the state government will not be
responsible for any untoward incidents like a terrorist strike, a
communal flare-up or any other breakdown of law and order, including
mishaps with some candidate.’

Buddhist billionaires: The bizarre world of China’s super-rich


Last updated at 11:14 18 februar 2008

Behind high walls and guarded security gates, in the outskirts
of Beijing, stands a big apartment building, rejoicing in the name
of Chateau Regency.

Access is hampered by serried ranks of BMWs and Jaguars. A sign
in the lobby proclaims: “China’s premier luxury apartment

This is one of the glitz-built fortresses of the country’s
new commercial class, who are gaining and spending fortunes on a
staggering scale.

Scroll down for more…

China super rich

High life: The wealthy are splashing out on designer goods

Average annual incomes in China’s countryside are
£236, but in the cities there are now 68 billionaires, up
from a mere 27 in 2006.

Some have got rich from manufacturing, others from electronics,
property, trading or - like Liu Yonghao, a former pig-food salesman
whose New Hope group is now official supplier of pork to the
Olympic Games - through agricultural products.

Some 10,000 Chinese boast a net worth over £5 million
apiece, and a string of them live in the Chateau Regency.

The building is a monument to such excess that even the most in
your face British lottery winner might flinch.

A Beijing businesswoman, whom to spare her blushes we shall call
Hui, gave me a guided tour of her eighth floor palace.

The apartment is a riot of gilding; purple and green carpets; a
library packed with new, unread and probably unreadable books;
electronic gadgetry; pools of giant goldfish; vast gold mirrors;
imperial-sized beds and sofas deep enough to drown in.

The dining-room table is permanently laid for eight. The massive
sunken bath and Jacuzzi look in danger of falling through into the
floor below.

A whole room is devoted to shoes, racked from floor to ceiling
in a fashion that would earn the envy of former Philippines First
Lady and shoe queen Imelda Marcos.

My hostess, a chunky 47-year-old, has made a fortune out of
trading in pharmaceuticals.

She dispensed with her husband along the way and now lives in
splendid isolation with her 20-year-old daughter who, poor kid,
resembles a rabbit trapped in gold headlights.

They enjoy from their balcony a view of the scruffy apartment
buildings inhabited by less fortunate neighbours, but no Beijing
resident can afford to care too much about aesthetic beauty, which
the city is almost bereft of.

Hui drives a Maserati, which she tells me with a giggle she has
taken up to 140mph, a notable achievement amid the gridlocked local
traffic system.

Christian Dior and Louis Vuitton should smile upon her, because
she is the sort of customer who keeps them in caviar. I asked if
she was happy, and got a huge grin. “I love my life,” she

She has lately discovered religion, and her apartment boasts its
own Buddhist shrine.

“Before I became religious, I was always stressed, always
pressured,” she says. “Now, my Buddha master tells me I
should take it easier - and I do. Buddhism has taught me about my

“I’m successful because it’s my destiny. If
you’re born into a poor family, then that’s another kind of

“Any time I have a problem, my Buddha master tells me what
I should do.”

It seemed discourteous to ask whether her Buddha master takes a
percentage for all this sage advice.

It was he, she says, who urged her to get into property

She is now doing that, too, with notable success. She employs a
workforce which will soon be 100-strong and is thinking of buying a
country house with a garden.

Unsurprisingly, she enthuses about China’s government:
“They are sensible people. They let us develop our businesses.
I like them.”

I tell her, entirely truthfully, that her flat is awesome.

I especially like the Western Christmas decorations adorning her
horrible china ornaments, the fairy lights laced into her fitness

“My Buddha master tells me I must get slimmer,” she
says, beaming, and he is not wrong about that.

China’s new rich have embarked on a consumer binge which
inspires them to commute to Hong Kong for tax-free shopping, and to
the capitals of Asia and Europe in pursuit of pleasure.

Lu Yamei, a self-consciously glamorous 39-year-old swathed in
mink and make-up apparently applied with an industrial
paint-sprayer, fingered a Cartier necklace as we talk.

“I have just bought it, as a present to myself for working
so hard,” she says, with a coy little smile.

Yamei is a cosmopolitan who lived in San Francisco for three
years when her property developer husband worked there.

Back in China, she started a kindergarten for the children of
the wealthy, which now boasts a staff of 40, ten of them imported
from the U.S. to teach English to her 100 pupils, who start
language courses at the age of three.

If others worry about the chasm between haves and have-nots in
the new China, Yamei does not: “How do you say what is rich
and what is poor?” she demands.

“If you make the money legally, you’re entitled to it.
I just want to fulfil my potential.”

To do so, she maintains a frenetic pace. Last Saturday, she
tells me, she was working until 5am.

She and her husband keep three houses in Beijing, one used
exclusively for business entertaining, which she enjoys.

She watches TV news and reads magazines assiduously, so that she
can keep her end up in conversation at power dinners.

She herself prepares meals occasionally: “Because I want my
children to grow up knowing that their mother is capable of

She has recently started a new business, franchising European
health products explicitly targeted at the rich.

She says she organises her schedule meticulously, so that she
can spend quality time at weekends with her nine-year-old

She no longer takes many foreign holidays, as she is too busy.
Max Mara, Christian Dior and Louis Vuitton, her favourite brands,
get her custom in Beijing, where their wares are heavily taxed but
readily available.

She and her husband have already planned their children’s
education. After high school, they will be sent to university in
the U.S., where they were born.

“It’s a country that gives you great chances,” she

Most wealthy Chinese nowadays dispatch their children abroad for
a few years, to perfect their fluency in English. Another popular
selfindulgence among businessmen is to maintain parallel households
and mistresses in several Chinese cities, but I did not ask
Yamei’s views on this quaint custom.

She says she now finds the business climate in China more
difficult than it was back in the 1980s: “There is so much
competition. But if you’re tough enough and you’ve got the
right products, you can make it.”

She looks tough enough, all right. Her father was, until
retirement, a detective in Beijing’s criminal investigation

Now, Yamei says, Dad looks in wonder at her fabulous range of
possessions and says: “You’d better make sure you’ve
got plenty of security.”

anti virus

Wang Jiangmin’s anti-virus software company has propelled
him into the ranks of the super-rich

Wang Jiangmin is a less accomplished shopper than either Yamei
or Hui, but he is a much bigger money-maker.

He is a 57-year-old computer wizard who over the past 20 years
has built an anti-virus software business, still wholly owned by
himself and his wife, which has propelled him into the ranks of the

If you met Wang in the street, you would see only a tall,
gangling, nerdish-looking figure in a quilted jacket, who walks
with a limp.

When I was shown into his unpretentious Beijing boardroom,
strewn with stacked chairs and assorted debris, at first I mistook
him for a bag-carrier for the company president.

Wang’s story is rags-to-riches. Crippled-with polio as a
child, he was unable to attend regular school.

Instead, he devoted himself to studying technology at the
factory where his father worked. He qualified as an electronic
engineer, and worked for years as a line employee.

In 1986, he exploited China’s new wave of commercial freedom
to start a business in two little rooms with eight employees.

For the next 20 years, he was principal designer of the products
which have made him rich.

Today, he gives responsibility for sustaining innovation to his
180-strong staff, 90 of them engineers. He focuses upon selling his
wares around the world.

“I’m nothing special,” shrugs this mild, curiously
sympathetic man. “There are thousands like me in China.

“Today, people are making in months the sort of fortune
which it took me 20 years to achieve.”

He ticks off some of his expensive mistakes - notably a big
premature investment in the internet. He is an intensely serious
workaholic, who says he is too busy to spend his own money.

He travels abroad only to attend computer conventions.

Unlike some of China’s conspicuous consumers who crowd the
luxury stores, he says that money means nothing to him, now he has
enough of it to buy anything he wants. His only relaxation is an
occasional day’s fishing.

When I tell him that I, too, am a fisherman, he waxes indignant
about the prices charged by the lakes outside Beijing: “Some
places make you pay 60 pence to catch a fish weighing under a
pound! I prefer to go to places where you pay £3, but there
is no weight limit.”

I suggest that he should try salmon-fishing in Canada, where his
only son has been studying for the past four years. “When
would I get the time?” he demands.

A host of overseas Chinese, the diaspora which quit China during
its decades of poverty and fear, are returning to share the glories
of its new prosperity. Wiang’s son, by contrast, thinks he may
stay in Canada.

His father has no objections. He professes no interest in
founding a dynasty. “If that’s what he wants, so be
it,” he says.

Wang thinks Westerners are more frightened than they need to be
about China’s dramatic economic and industrial rise. “As
manufacturers, we are at the cutting edge,” he acknowledges.
“But as innovators, the West is still a long way

Unlike some of his peers, who are shamelessly boastful about
their wealth, Wang is defensive about his fortune.

He says it is much less fun having money than he used to imagine
when he was a humble factory worker.

“Our rich class is now paying more tax. I’ve given over
a million renminbi (about £72,000) to a foundation, two
million to a university. We’re contributing to society,
generating jobs. I’m just lucky that my field has developed as
fast as it has.”

Wang’s business, like those of so many 21st-century computer
kings, remains the focus of this austere, dedicated man’s life.
His attempts to amuse himself by diversifying have not been a

“I bought two restaurants,” he complains. “They
employ 200 staff, but they’ve never made any money.”

Doesn’t he even enjoy eating in them? He throws up his
hands: “I don’t care what I eat. To be honest, I prefer
fast food. I don’t want to waste time eating.”,3084,0,0,1,0

Billionaire’s boost to Buddhist studies

by NICHOLAS KEUNG, Toronto Star, Aug. 26, 2006

Robert Hung-Ngai Ho has an ambitious plan to spread the seeds of Buddhism from the Far East to around the world.

Vancouver, Canada — While the eastern religion
commends frugality and abstinence from a life devoted to material
things, it also teaches generosity and kindness — which is what the
immigrant billionaire from Hong Kong tries to exemplify in his
philanthropy. That includes this week’s $4 million gift to the
University of Toronto at Scarborough, the largest donation ever
received by the satellite campus.

billionaire businessman Robert Hung-Ngai Ho, who now makes his home in
Vancouver, has gifted $4 million for Buddhist studies to the
Scarborough campus of the University of Toronto.

Since 2000, Ho has donated millions of dollars to establish academic
programs in Buddhism at universities in Hong Kong and Thailand in the
name of Tung Lin Kok Yuen, a non-profit Buddhist group founded in 1935
by his late grandparents, who began the family fortune.

Now, the retired Vancouver-based businessman and one-time journalist
hopes to encourage academic Buddhist studies in his adopted homeland.
This week’s announcement at the Scarborough campus, which will bolster
the U of T’s existing Buddhist studies program, followed an identical
donation in February to the University of British Columbia.

“Our vision would be to see Buddhism not just as a religion
predominant in Asia but to be more widely known and better understood
by the international community,” Ho told a luncheon held at the campus
Wednesday in appreciation of Ho’s generosity.

“Buddhism, like many of the other religions, has been an integral
part of our global cultural development and will continue to grow in
harmony with our society globally.”

Born into a Buddhist family, Ho, 74, said he did not enjoy going to
temples or Sunday religious school until he turned 40 and began seeking
spiritual growth. After studying various religions, he felt Buddhism
suited him best because of its principle of self-salvation.

“It teaches you to do everything on your own, to rely on yourself
instead of any supernatural powers or gods,” explained Ho, who retired
in Canada in 1989 after retiring as publisher of Hong Kong’s Kung
Sheung Daily Press. (A master’s graduate of Columbia University’s
journalism school, he had worked at the Pittsburgh Press and National
Geographic, for a time as White House correspondent, before returning
to Hong Kong.)

`Our vision would be to see Buddhism … widely known and better understood’

Donor Robert Hung-Ngai Ho

“Unfortunately, people mix up their superstitions with Buddhism,
turning it into a mythical chop suey, so others think that Buddhists
are a bunch of voodoos.”

That’s why Ho has put his energy and resources into building a
strong global network of Buddhist studies programs at academic
institutions, which can help debunk misconceptions about this ancient

The gift will support a visiting professorship and lectureship
program in Buddhist studies, as well as conferences, public lecture
series and scholarships.

Professor William Bowen, chair of the humanities department at
Scarborough, said the visiting lectureship will enrich
interdisciplinary studies in visual and performing arts, religion,
philosophy and more.

Studies of Buddhism and other eastern religions have proved popular,
he said. A first-year course in religious traditions of the East has
already reached its capacity of 500 students, and a second-year
introduction to Buddhist philosophy course is filled with 86.

“But the most spectacular impact is that our students and the
community as a whole will be exposed to a changing roster of
international experts, and given immediate exposure to the vitality of
research in Buddhist thought and culture,” noted Bowen, adding that the
Buddhist conferences and lectures will start in September 2007.

The soft-spoken Ho said he learned much about generosity from his
grandparents, the late Lady Clara and Sir Robert Ho Tung, who headed
what was perhaps Hong Kong’s wealthiest family long before fellow
billionaire entrepreneur Li Ka Shing became a familiar name to

Born to a Dutch father and Chinese mother, Sir Ho made his fortune
in real estate and commodities trading. Many parks, schools and
buildings in Hong Kong have been named after him, and the Ho clan
remains one of the most influential in Hong Kong’s business community.

All the charitable giving, according to Ho, is simply “in accordance
with Lady Clara’s compassion and sacred vow to spread out beyond Hong
Kong so that overseas Chinese and foreigners would be enlightened by
the Buddhist doctrine.”

Ho said he’s also negotiating with a U.S. university to build a
Buddhism study centre south of the border. He declined to name it, but
Ho has already donated more than $30 million to his alma mater, New
York’s Colgate University, to fund projects in the sciences and Asian

Buddhist Billionaires

October 2004

Work Is For Profit And For Your Purification

Why do you get a salary? Is it the form of compensation you demand, for
“donating” time away from your self and your family to the employer
whom you resent and from the work that you loathe? So that you can thus
support your self and your loved ones? In our world where money has
become the only religion, two types of disciples exist. Those who earn
so they can live. And those who live so they can earn. Which one have
you become?

Why do you work? A civilization which induces stress through
work has produced two types of workaholics: those who work to keep
themselves gainfully employed; and those who work to keep themselves
away from the desparation of a lack of income. Which one have you
become? Obssessively, we have reached that moment in the advanced
evolution of our society, where our standard of living is being judged
by how much more we consume annually. Where a man who consumes more is
considered “better off” than a man who consumes less.

This points to why people do not understand the business model and even
the eonomics behind GnuLinux. Why we do not understand how something
that is free-of-cost earns IBM and HP more than 4 billion dollars in
annual sales. GnuLinux is not about a muft and mukt computer kernel. It
is about understanding Buddhist economics. GnuLinux is the effect of a
subtle change in the value systems of a few that is impacting millions.
One kernel can make the whole world green.

Om Money Padme Hum

I bet you are intruiged with what is Buddhist economics. Here is an article by the noted economist, E.F. Schumacher,
A quick glance through it, and you will understand what value-systems
GnuLinux is ushering in as we hurtle through the chaos of our daily
lives. Buddhism is about a tremendous Yes to everything, including
material wealth. What amazes me is that this rare flowering of human
consciousness is perhaps the only one that has a total acceptance for
material wealth. Yet among all the billionaires in our world, none is a
Buddhist. Maybe because we are all obsessed with procuring goods and
nothing much else. The Buddhist, like GnuLinux, is interested in
liberation. For Buddhism, it is not wealth that stands in the way of
liberation, but the attachment to wealth; not indulgence and pleasure,
but the obsessive craving for these. The thirst for liberation can
transform even work to worship. In that light, work becomes a method of
purifying our character, through discipline, through refining our
abilities, through letting go of our ego and joining other co-workers
for a common task.

GnuLinux Sutra

Look at GnuLinux. It has brought forth people who work together
in a community, where often middle-of-the-stream programmers gradually
refine themselves to produce software that eventually outclasses all
other. Proprietory software reduces people into becoming consumers of
buggy, expensive, software that traps them into an endless cycles of
re-investment. It divides society between those who have software, and
those who don’t. GnuLinux brings the focus back on the individual, on
the attainment of liberation in software. It bridges the digital
divide. Perhaps Eric S Raymond’s ‘The Cathedral and The Bazaar’ paints
half the picture, and a lopsided one at that. For it is still
consumer-based, and on a producer-as-consumer economics. Can we look
forward to the day in this century, when a patent is not used to abuse
or to sue others, but as a free ‘prasad’ to all mankind? Had Gautam
Buddha written the GPL, he would have painted a much larger vision of
the General Public Liberation, where software is used and written for
ensuring software freedom, and as a path to self-liberation. His book
would have been titled ‘Buddhism in the Bazaar: The Path To Right
Livelihood.’ GnuLinux already offers this path to your personal wealth
and contentment. This is the real revolution of GnuLinux. You have to
be ready for it.

Inspired by the vision of Osho. Niyam Bhushan is a leading technology
writer, editor, columnist, with a background in graphic design. He
consults and trains in digital imagery. He has been using computers
across several platforms since 1982, and loves the freedom and power
offered by GnuLinux. Email: freedomyug at linuxforu dot com

© 2004 Niyam Bhushan. First published in LinuxForYou magazine,
Verbatim copying and distribution of this entire article is permitted
in any medium, provided this notice is preserved. In Hindi, ‘muft’
means ‘free of cost’, and ‘mukt’ means ‘with freedom.’


The Billionaire’s List changes

toll on the markets has not only shrunk the wealth of the world’s
billionaires, compiled every year by Forbes, but also changed the
pecking order. Bill Gates is once again the world’s richest, and Mukesh
Ambani has replaced Lakshmi Mittal as the richest Indian
. The
world is left with fewer billionaires as the economic downturn shaved
millions off the fortunes of the world’s richest. India’s wealthiest
fared no better, as 24 made it to the Forbes’ list of
this year and another 29 who were on the list last year found
themselves reduced to multi-millionaires, thanks not just to the steep
fall in share prices but also to the rupee’s depreciation by nearly a
fifth, which depresses the dollar value of rupee wealth.
the pack among India’s richest and ranked seventh in the world is
Reliance Industries (RIL) chief Mukesh Ambani. His net worth is down to
$19.5 billion after the RIL stock
plunged about 40% in the last one year. Close
behind is ArcelorMittal CEO Lakshmi Mittal, who is ranked eighth with a
net worth of $19.3 billion. His fortune dwindled as shares of the
world’s largest steel firm hit four-year lows amid slackening global
demand. The next
Indian on the list is Anil Ambani. Ranked 34, the Reliance ADAG
chairman, who was the biggest gainer last year, lost $32 billion, or
76% of his fortune, in the last one year as shares of his group firms —
Reliance Communications, Reliance Power and Reliance Capital —
declined. Bharti group CEO Sunil Mittal is the fourth
Indian, ranked 59 globally, with a net worth of $7.7 billion. Wipro
chief Azim Premji makes it to the list with a total wealth of $5.7
billion, as do brothers Shashi and Ravi Ruia of Essar ($5.6 billion).
Indians on the list include DLF’s KP Singh ($5 billion), Kumar Birla
($4.2 billion), Adi Godrej ($3.3 billion), Dilip Shanghvi ($3 billion)
and Savitri Jindal ($2.7 billion). Brothers Malvinder and Shivinder
Singh also feature in the list, with a net worth of $2.6 billion. Among notable drop-offs in the list are Unitech founder Ramesh Chandra, who lost an
$9 billion due to a slump in realty stocks, and Suzlon’s Tulsi Tanti,
who is poorer by $2.6 billion. Jet Airways chairman Naresh Goyal saw
his net worth lowered by $1.1 billion, while investment banker Nimesh
Kampani and Indiabulls promoter Sameer Gehlaut lost $1 billion each.
Liquor baron Vijay Mallya is another ex-billionaire.

Microsoft founder Bill Gates pipped billionaire investor Warren Buffet to emerge
as the wealthiest man in the world with an estimated fortune of $40
billion. Having lost $25 billion in 12 months, Mr Buffet comes second
($37 billion). Mexican telecom czar Carlos Slim Helu ($35 billion) is
ranked third on the list, followed by Oracle CEO Lawrence Ellison
($22.5 billion) and furniture firm Ikea founder Ingvar Kamprad ($22
to Forbes, there are now 793 billionaires globally, down from 1,125 a
year ago. India not only saw its share of the wealthiest plummet, it
also gave up its position as home to most billionaires in Asia to
China, which has 28.

List of Korean billionaires and multi-millionaires

This is an incomplete list of Korean billionaires and multi-millionaires, and also describes wealth in Korea.

There are several published Korean rich lists within Korea including
ones issued by the wealth valuation company Equitable, the Digital
Times, Korea Times, and other major Korean publications. In addition, Forbes magazine, Merrill Lynch,
and other chroniclers of the power elites of the world have found
sufficient high profile rich in Korea as to generate accurate numbers
and reasonable deductions.

Forbes magazine has hinted at Korea having at the very least 7 high
billionaires living on the peninsula, and at least ten families alone
who control in the high billions in assets

Problems in determining wealth in Korea

Sociological research in Korea into the great families of wealth and
privilege has not been forthcoming, so much more work has been done
abroad by American and European publications such as Forbes, The Asian Wall Street Journal, and The Economist magazine as well as merchant banking units from Merrill Lynch
and other holders of massive private fortunes. Internally, Korean
newspapers have exercised great caution, and declined to compile lists
of the rich, how they became rich, or mapped great holdings of wealth;
this changes as foreign banks publish such material abroad, and
articles then find their way back into Korea through the internet and
foreign banking and financial publications.

Corporate wealth and rich lists

Most Korean corporations, even public ones, do not as a habit list
salaries of chief executives, presidents, or stock benefits to members
of their boards. Individuals rarely disclose salaries, or bonuses, and
there is no real attempt to open corporate books to the public, or to
shareholders to indicate substantial shareholders so determining the
hierarchy of the rich is difficult.

It may be assumed that a yardstick to compile salaries of
corporation heads is to go down the middle between American and
Japanese salaries for comparable industries, based on gross volumes of
sales, number of employees, and job title.

This benchmark would suggest at least 1000 employees of major
companies making more than $1 million a year of salary; and perhaps 500
earning more than $2 million based on Korea’s commercial success

Political wealth and rich lists

Elected and appointed politicians rarely if ever file disclosure of
assets, investments, or family links to corporations. It is generally
assumed in Korea that any senior politician is a millionaire, and long
term politicians as a family are multi-millionaires. At times of
contention, public disclosures validate this.

Foundations wealth and ranking by assets held

The use of foundations to sequester assets again has not be studied
at length, and foundations are not required to disclose all assets,
investments, or profits; and in many cases hold, or are believed to
hold, or handle trillions of won of investments that are controlled by
very few people with great power and limited scrutiny or public
oversight. Disclosures are usually triggered by political scandals with
little public accountability in place or sociological analysis of

Non-profit and church or religious group holdings

While the wealth of Sun Myung Moon
is often mentioned, and is said to be in the multiple billions,
non-profit church groups and religious corporations are known to have
extensive landholdings both in Korea and extremely large investments in
securities and land abroad.

Occasional disclosures in the media indicate the huge amounts of
wealth owned, and transferred abroad by churches, religious holding
companies, lesser cults, and other missionary groups.

These have their origins going back to the great Buddhist monastic
orders which had incredible economic power, controlled essential
resource exports (rice and ginseng), and which had huge plantations
with extensive numbers of slaves as early as the Korean three kingdoms
time and as late as the declining years of the Joseon dynasty; with gains coming back under the Japanese occupation through fundraising for Korean independence movements.

Spectacular showcases of Korean Christian wealth have been displayed
in huge cathedrals and church-building, and at times a lifestyle of
conspicuous consumption and profligate spending by church leaders, or
church cult leaders, when financial irregularities or scandals have
been made public.

Estimates on financial holdings of the richest churches often exceed billions in assets and investments.

Gross income of chaebols and the top 50 Korean companies

The relations between chaebols
and the Korean power elite are now studied more closely as the elite
itself showcases wealth and power more publicly than before as Korea
places itself in the community of successful countries.

Internationally known Korean billionaires (Forbes)

Known Korean billionaires according to Forbes analysis units include:

Icon Description
Has not changed from the list for 2007.
Has increased from the list for 2007.
Has decreased from the list for 2007.
No.  ↓ Name  ↓ Net worth (USD)  ↓ Age  ↓ Citizenship  ↓ Residence  ↓ Source(s) of wealth  ↓ Ref.
&0000000000000001.0000001 Kim, VladimirVladimir Kim $5.5 billion   Kazakhstan  United Kingdom Kazakhmys [citation needed]
&0000000000000002.0000002 Lee Kun Hee $2.9 billion   South Korea  South Korea Samsung [citation needed]
&0000000000000003.0000003 Chung Mong Koo $2.2 billion  70  South Korea  South Korea Hyundai [citation needed]
&0000000000000004.0000004 Shin Dong Bin $1.8 billion   Japan  Japan Lotte [citation needed]
&0000000000000005.0000005 Lee Myung Hee $1.8 billion   South Korea  South Korea Shinsegae [citation needed]
&0000000000000006.0000006 Lee Jay Yong $1.7 billion   South Korea  South Korea Samsung [citation needed]
&0000000000000007.0000007 Shin Dong Joo $1.7 billion   Japan  Japan Lotte [citation needed]
&0000000000000008.0000008 Nicholas Park $1.7 billion   United States  South Korea Attorney [citation needed]
&0000000000000009.0000009 Yong Keu Cha $1.3 billion  Kazakhmys [citation needed]
&0000000000000010.00000010 Chung Mong Joon $1.3 billion   South Korea  South Korea Hyundai Heavy [citation needed]
&0000000000000011.00000011 Suh Kyung Bae $1.1 billion  Amorepacific [citation needed]
&0000000000000012.00000012 Han Chang Woo $1.1 billion   Japan  Japan Maruhan [citation needed]

[edit] Internationally known wealthy Korean individuals (Forbes)

No.  ↓ Name  ↓ Net worth (USD)  ↓ Age  ↓ Citizenship  ↓ Residence  ↓ Source(s) of wealth  ↓ Ref.
&0000000000000013.00000013 Chung Yong Jin $975 million   South Korea  South Korea Shinsegae [citation needed]
&0000000000000014.00000014 Shin Chang Jae $950 million   South Korea  South Korea Kyobo Life [citation needed]

Chang Pyung Soon $945 Million Kyowon Group

Choi Jin Min $930 Million Kiturami

Chey Tae Won $810 Million SK Group

Kim Seung Yoon $800 Million Hanwha

Yoon Seok Keum $790 Million Woongjin

Kang Young Jeong $720 Million Daekyo

Lee Jay Hyun $715 Million Cheil Jadang

Hong Ra Hee $700 Million Samsung

Koo Bon Mo $670 Million LG Group

Chung Mong Jin $665 Million KCC

Shin Kyuk Ho $660 Million Lotte

Park Moon Deuk $650 Million Hite Brewery

Chung Mong Gyu $645 Million Hyundai

Kim Nam Goo $640 Million Korea Investment

Koo Bon Neung $620 Million Heesung Group

Kim Jung Joo $590 Million Nexon

Chung Eui Sun $560 Million Hyundai

Lee Joon Yong $540 Million Daelim

Koo Bon Joon $500 Million LG

Kim Jeong Hoon $500 Million Yurie

Koo Bon Sik $495 Million LG

Moon Kyu Young $480 Million Aju

Lee Ho Jin $475 Million Taekwon

Chung Yoo Kyung $470 Million Shinsegae

Lee Boo Jin $410 Million Shilla

Lee Seo Hyeon $410 Million Cheil

Cho Yang Rai $405 Million Hankook Tire

This benchmark would suggest at least 1000 employees of major
companies making more than $1 million a year of salary; and perhaps 500
earning more than $2 million based on Korea’s commercial success.

[edit] Rich List according to is a local source that evaluates the fortunes of Korean
businesspersons. According to its analysis of listed stock value as
January 2008, the top 20 known Korean share-rich individuals are the

Chung Mong Joon $3.8 Billion Hyundai Heavy

Chung Mong Koo $3.2 Billion Hyundai

Lee Myung Hee $2.2 Billion Shinsegae

Shin Dong Bin $2.0 Billion Lotte

Shin Dong Joo $1.9 Billion Lotte

Lee Kun Hee $1.8 Billion Samsung

Huh Chang Soo $1.4 Billion GS

Koo Bon Moo $1.4 Billion LG

Nicholas Park $1.3 Billion Lee

Suh Kyung Bae $1.2 Billion Amorepacific

Chung Yong Jin $1.1 Billion Shinsegae

Chung Mong Gyu $1.1 Billion Hyundai Development

Chung Mong Jin $1.1 Billion KCC

Koo Bon Joon $1.0 Billion LG

Kim Seung Youn $1.0 Billion Hanwha

Yoon Seok Keum $0.9 Billion Woongjin

Chung Eui Sun $0.9 Billion Hyundai

Kim Nam Koo $0.8 Billion Korea Investment

Lee Soo Young $0.8 Billion DC Chemical

Kim Jun Ki $0.8 Billion Dongbu

Kim Nam Ho $0.8 Billion Dongbu

Kim Young Sang $0.6 Billion Daewoo

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