Dream - Forbes has released the latest list of the richest people in South Korea (Korsel). One of the tycoons who caught the attention is Lee Dong Chae. This billionaire ranks 16th as the richest person in the Land of Ginseng, despite being in prison.

Quoting Forbes, Lee Dong Chae is the owner of the EcoPro group. EcoPro is the largest manufacturer of electric vehicle battery cathodes in South Korea.

"In May 2023, Lee Dong Chae was sentenced to two years in prison and a fine of US$1.7 million or approximately Rp27 billion for the case of human trafficking."

"Although imprisoned, this did not stop his company, which is listed on Kosdaq, from becoming one of the best-performing stocks in the world in 2023. Mostly thanks to the performance of its subsidiary, EcoPro BM."

When investors try to take advantage of the popularity of electric cars, EcoPro's shares have skyrocketed over 1,000% in the last eight months.

There was a temporary decline after the arrest of Dong Chae. The stock of EcoPro's subsidiary, EcoPro Materials, which operates in the battery materials sector, has risen 110% since its listing in November.

Regarding his wealth, Dong Chae has climbed two positions to become the 16th richest person in South Korea in 2024. With a net worth of US$2.2 billion or approximately Rp35.6 trillion, an increase of US$500 million from the previous year 2023.