Ryu Kwang-ji
Ryu Kwang-ji | |
|---|---|
| Born | May 25, 1966 Gunwi County, North Gyeongsang Province, South Korea |
| Occupation(s) | Entrepreneur, Business executive |
| Known for | Chairman and CEO of Kumyang |
Ryu Kwang-ji (; born May 25, 1966) is a prominent South Korean entrepreneur serving as the chairman of an industrial chemical firm. According to Forbes' April 2024 assessment, his net worth is approximately US$1.22 billion, ranking him as the 28th wealthiest individual in South Korea.
Biography
Originating from Gunwi County in North Gyeongsang Province, Ryu completed his education at Neungin High School in 1985 and earned a law degree from Korea University School of Law in 1990.
His professional journey started in 1994 within the mergers and acquisitions division at Seoul Securities. In 1998, he transitioned to Kumyang's financial management team and advanced to lead financial planning by 1999. In 2001, Ryu took on the role of president at Kumyang’s Chinese branch, Kunming Jin Yang Chemical Industrial Co., Ltd. Later that same year, he was appointed CEO of Kumyang, a role he continues to fulfill. As of March 2024, he holds the largest shareholding stake at 39.58%, with additional minor holdings distributed among family members.
Since 2003, Kumyang has achieved profitability nearly every year, with employee compensation increasing by roughly 10% annually since 2009. The company maintained a low profile until mid-2022 when it ventured into the electric vehicle battery market, triggering an approximate 2,000% rise in investor attention. Nevertheless, Kumyang’s main income source remains the production of blowing agents utilized in plastic foam manufacturing for footwear and various consumer goods.