CXO Research Institute Analyzes BlackRock’s Holdings in Korean Stocks
US Asset Manager BlackRock Holds Over 25 Trillion Won in Samsung Electronics Alone
10 Companies with Over 5% Shareholding, Including the Four Major Financial Groups, ‘[Edaily Reporter Kim So-yeon] Recently, President Lee Jae-myung met with Larry Fink, the CEO of the world’s largest asset manager, BlackRock, which has emerged as a major player with over 37 trillion won invested in the Korean stock market. BlackRock’s holdings in Korean-listed companies exceed 37.7 trillion won, with more than 25 trillion won in just Samsung Electronics (005930).’,
On the 24th, according to a survey by the Korean CXO Research Institute of companies in which BlackRock holds more than a 5% stake, BlackRock’s subsidiary, BlackRock Fund Advisors, and others hold more than a 5% stake in 10 companies as of the 23rd of this month. These include major Korean financial holding companies such as Hana Financial Group (086790) (6.43%), Woori Financial Group (316140) (6.07%), KB Financial Group (105560) (6.02%), and Shinhan Financial Group (055550) (5.99%). This signals BlackRock’s significant influence in the Korean financial market.’,
In terms of Samsung Group affiliates, BlackRock holds over 5% stakes in three companies: Samsung Electronics (005930) (5.07%), Samsung SDI (006400) (5.01%), and Samsung Electro-Mechanics (028050) (5%). Additionally, it holds more than 5% in Naver (6.05%), POSCO Holdings (5.2%), and Coway (021240) (5.07%).
The combined stock valuation based on the closing price of these 10 companies as of the 23rd of this month reached 37.7692 trillion won, accounting for approximately 1.1% of the total market capitalization of the Korean stock market, which was 3,332 trillion won on the same day.
The value of BlackRock’s holdings in Samsung Electronics alone stood at 25.4431 trillion won, the highest. BlackRock owns 303,910,061 shares of Samsung Electronics, and even at the closing price of 84,700 won, the stock value exceeds 25.4 trillion won.
This amount is over three times the Samsung Electronics stock valuation of 8.2509 trillion won held by Chairman Lee Jae-yong. Moreover, it surpasses the combined Samsung Electronics stock valuation of 24.5993 trillion won held by the Samsung owner family, including Chairman Lee, Hong Ra-hee (honorary director of Leeum Museum), Lee Boo-jin (Shilla Hotel president), and Lee Seo-hyun (Samsung C&T president).
Following Samsung Electronics, the highest stock valuations are KB Financial Group (2.8908 trillion won), Naver (2.2159 trillion won), Shinhan Financial Group (2.0315 trillion won), Hana Financial Group (1.6393 trillion won), Woori Financial Group (1.1929 trillion won), and POSCO Holdings (1.1715 trillion won).
Oh Il-sun, director of the Korean CXO Research Institute, stated, “As of late May 2022, BlackRock’s stock valuation was about 29.85 trillion won, accounting for approximately 50% of the total value of shares held by other foreign investors, and it remains similar now. BlackRock’s substantial financial power gives it an overwhelming influence that can dictate the Korean stock market.”