Cho Yang-Rai, 75, owns 15.99% of Hankook Tire, which trades on the Korean stock exchange.

FORBES: South Korean Cho Yang-Rai, Chairman Of Hankook Tire, Joins Billionaire Ranks

Hankook Tire of South Korea, has joined the billionaire ranks as shares of the company increased in value.

FORBES: South Korean Cho Yang-Rai, Chairman Of Hankook Tire, Joins Billionaire Ranks

In a statement issued in February about fiscal 2012 performance, Hankook said that sales grew particularly in emerging markets like Russia and Latin America.

FORBES: South Korean Cho Yang-Rai, Chairman Of Hankook Tire, Joins Billionaire Ranks

On September 9th, Hankook Tyre, a tyre maker with an investment-grade rating, issued 45 billion won-worth of three-year bonds at some 40 basis points (hundredths of a percentage point) above the average three-year bond yield in the secondary market.

ECONOMIST: South Korean bonds