Park Yeon-cha
Gimhae, South Korea
South Korea
sneakers, Self Made
$3,100,000,000
838
#7 Korea's 50 Richest 2019
#838 Billionaires 2019
Park Yeon-cha is chairman of Taekwang Industrial, a sneaker manufacturer with more than 70,000 employees. Founded in 1971, his company has been making shoes for Nike since the 1980s and now has factories in Vietnam, Indonesia and China. Taekwang is a major supplier to Nike, churning out 60 million shoes (or 12% of output) annually for the brand. In 2011 he was sentenced to 30 months in jail for tax evasion and bribery, part of a scandal that included the late former president Roh Moo-hyun.
Park grew up in a poor family and completed only elementary school. He has diversified and Taekwang now also has interests in power generation and fertilizer production.
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