AI turns entrepreneur into South Korea’s newest billionaire

South Korea business tycoon-table welcomes a fresh face into billionaire club, Park Dong-suk, after the country faces high demand for electricity to boost AI.

Park, CEO of a lesser known electrical transformers manufacturer company, Sanil Electric, achieved a major milestone after shares of the company surged to 110 percent since the Liberation Day market crash on April 4, 2025.

The 64-year-old businessman, owns around 55 percent of the company with wife Kang Eun Sook and now its worth at $1.2 billion as per July 18, 2025, stock market Friday closing report.

“More than 60 percent of company revenue is from the United States. In January 2025, energy equipment organization GE Vernova ordered $11.4 million worth of electric transformers from the Korean startup,” Forbes reported.

Sanil Electric revealed that income plunged to 56 percent and revenue rose to $240 million and net profit doubled up than last year to $60 million. 

Park listed the company on the stock exchange in July 2024 and raised $191.6 million.

Newly minted billionaire, graduated from Korea University Seoul Park and started his company, Sanil Electric, 31 years ago, in 1994.