 |
From left: Hong Ra-hee, former Director of the Leeum Museum of Art. |
[Alpha Biz= Kim Jisun] SEOUL, Oct. 17 — Members of the Samsung founding family — Hong Ra-hee, Honorary Director of the Leeum Museum of Art, Lee Boo-jin, President of Hotel Shilla, and Lee Seo-hyun, President of Samsung C&T — will sell ₩1.73 trillion (approximately USD 1.25 billion) worth of Samsung Electronics shares to pay the final installment of inheritance taxes following the late Chairman Lee Kun-hee’s passing in 2020.
According to a regulatory filing disclosed by the Financial Supervisory Service (FSS), the three signed a trust agreement with Shinhan Bank on October 16 to dispose of a total of 17,716,000 shares of Samsung Electronics. Based on the stock’s closing price of ₩97,900 on the same day, the transaction is valued at approximately ₩1.734 trillion.
The trust agreement runs until April 30, 2026, during which Shinhan Bank will oversee the share sales. The stated purpose of the sale is to “secure funds for tax payment and debt repayment.”
The proceeds will be used to pay the inheritance tax levied on the estate of the late Chairman Lee Kun-hee. The four heirs of the Samsung family — Lee Jae-yong, Hong Ra-hee, Lee Boo-jin, and Lee Seo-hyun — are paying approximately ₩12 trillion in six installments over five years, with the final payment due next April.
Specifically, Hong Ra-hee will sell 10 million shares, reducing her stake from 97.98 million shares (1.66%) to 87.98 million shares (1.49%). After the transaction, Samsung Electronics Chairman Lee Jae-yong’s stake — 97.41 million shares (1.65%) — will surpass his mother’s for the first time.
Lee Boo-jin will sell 6 million shares, lowering her stake from 0.81% to 0.71%, while Lee Seo-hyun will dispose of 1.716 million shares, reducing her stake from 0.80% to 0.77%.
Chairman Lee Jae-yong, however, reportedly plans to fund his portion of the inheritance tax through personal loans and dividend income, rather than selling additional shares. He currently serves without salary at Samsung Electronics and other affiliated companies.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
