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[Alpha Biz=(Chicago) Reporter Kim Jisun] Samsung Group's family, including Hong Ra-hee, former director of the Leeum Museum of Art, Lee Boo-jin, president of Hotel Shilla, and Lee Seo-hyun, chairman of the Samsung Welfare Foundation, will sell shares of Samsung Electronics to raise inheritance taxes.
As a result of confirming the disclosure of Samsung Electronics and other group affiliates through the Financial Supervisory Service's electronic disclosure system on the 5th, former director Hong Ra-hee, President Lee Boo-jin and Chairman Lee Seo-hyun signed a trust contract with Hana Bank to dispose of securities on the 31st of last month. Shares of Samsung Electronics, which former director Hong, president Lee and chairman Lee have signed for disposal, are 0.32% (19,324,106 shares), 0.04% (2,401,223 shares), and 0.14% (8,103,854 shares), respectively. Based on the closing price of 3 days (69,600 won), it is worth 2.761 trillion won. It was announced as "for inheritance tax payment".
In addition, President Lee Boo-jin signed a trust contract to sell shares in Samsung C&T (0.65%), Samsung SDS (1.95%) and Samsung Life Insurance (1.16%). Based on the closing price on the 3rd, it is worth 499.3 billion won. The term of the trust contract is until April 30 next year.
Samsung's family has started to dispose of stocks of Samsung Electronics and other affiliates to pay some 12 trillion won in inheritance tax on assets inherited from the late Samsung Chairman Lee Kun-hee. Earlier, former director Hong Ra-hee and Samsung Electronics Chairman Lee Jae-yong decided to pay 2 trillion won in inheritance tax in April 2021 and split the remaining taxes over five years. At that time, Chairman Lee Kun-hee left his stake in Samsung affiliates (18.9633 trillion won) and real estate and cash such as the Everland site as a legacy.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
