The late Samsung Group chairman’s widow sells 15 million Samsung shares to pay off inheritance tax

Glonghui, April 9th｜Hong Ra-hee, widow of the late Samsung Group Chairman Lee Kun-hee, sold 15 million Samsung Electronics shares via block trade. The transaction was priced at 205,237 Korean won per share, with a total transaction amount of nearly 3.1 trillion Korean won (about $2.1 billion). After this reduction, Hong Ra-hee's stake in Samsung Electronics decreased from 1.49% to 1.24%. This cash-out marks the official conclusion of the Samsung family's five-year inheritance tax settlement plan, with the total inheritance tax left by Lee Kun-hee reaching approximately 12 trillion Korean won. Since April 2021, Hong Ra-hee and her children Lee Jae-yong, Lee Boo-jin, and Lee Seo-hyun have fulfilled their tax obligations in six installments through the sale of group subsidiaries' equity and multiple rounds of share pledge loans. With the final payment settled, the core shareholding reduction pressure that has troubled the Samsung family for many years is expected to be alleviated.