Hong Ra-hee, widow of late Samsung Group Chairman Lee Kun-hee, sold a stake in Samsung Electronics worth nearly 3.1 trillion won ($2.1 billion) to complete the family's inheritance tax payments. The block sale of 15 million shares ends a five-year installment plan totaling 12 trillion won that began in April 2021. The move is expected to ease financial pressure, potentially accelerating Chairman Lee Jae-yong's 'New Samsung' growth strategy.
Hong Ra-hee, honorary director of the Leeum Museum of Art and mother of Samsung Electronics Chairman Lee Jae-yong, sold 15 million shares of Samsung Electronics in a block deal before the market opened on Thursday. The shares fetched 205,237 won each, totaling nearly 3.1 trillion won ($2.1 billion) and reducing her stake from 1.49 percent to 1.24 percent, industry sources said.
Lee Kun-hee died in October 2020, leaving assets estimated at around 26 trillion won, including stocks valued at 19 trillion won. The family has financed the 12 trillion won inheritance tax through share sales in group affiliates and other measures in installments over five years since April 2021. Lee Jae-yong, along with sisters Lee Boo-jin, chief executive of Hotel Shilla, and Lee Seo-hyun, president of Samsung C&T, contributed to the payments.
The completion of the tax payments is expected to relieve financial pressure on the family. Sources indicated it could accelerate Chairman Lee Jae-yong's push for a "New Samsung" growth strategy.
