The members of the Samsung Group-owning family have decided to sell nearly 2.6 trillion won worth of shares to cover inheritance taxes. Notably, each member of the family has a plan to divest their holdings in Samsung Electronics, which are as follows:
- Former Director Hong to divest 19,324,106 shares (0.32 percent of total Samsung shares)
- CEO Lee to divest 2,401,223 shares (0.04 percent of total Samsung shares)
- Chairperson Lee to divest 8,103,854 shares (0.14 percent of Samsung shares)
Detail suggests that Samsung Chairman Lee Kun-hee passed away in October 2020, since then his family members have been paying inheritance taxes in installments for the assets inherited according to a five-year plan, which in total amounted to 12 trillion won.
And now, the widow of Lee, Hong Ra-hee, and his two daughters, Hotel Shilla CEO Lee Boo-jin and Samsung Welfare Foundation’s chief Lee Seo-hyun — signed a deal to share disposal to Hana Bank, to cover inheritance taxes.
Moving on, CEO Lee has also signed trust agreements to sell stakes in Samsung C&T, equivalent to 0.65 percent of the shares’ value; Samsung SDS, equivalent to 1.95 percent of the shares’ value; and Samsung Life, equivalent to 1.16 percent of the shares’ value.
Notably, the Samsung Electronics shares up for sale amount to about 2.08 trillion won when the latest market closing price of 69,600 won per share is applied.
