Chairman Lee Jae-yong Purchases 7.18 Million Samsung Electronics Co., Ltd. Shares Held by His Mother, Hong Ra-hee, for 1.9 Trillion Won

[Financial News] Samsung Electronics Co., Ltd. Chairman Lee Jae-yong will purchase 7,188,793 shares of Samsung Electronics Co., Ltd. stock from his mother, Hong Ra-hee, Honorary Director of the Leeum Museum of Art, in an over-the-counter transaction.
With the transaction volume alone reaching 1.9374 trillion won, Chairman Lee’s stake in Samsung Electronics Co., Ltd. will increase from 1.47% to 1.58% after purchasing the 0.11% of Samsung Electronics Co., Ltd. shares held by Honorary Director Hong.
Samsung Electronics Co., Ltd. disclosed on the 9th that Chairman Lee Jae-yong is purchasing shares of this size from Honorary Director Hong Ra-hee.
The business community speculates that this transaction involves a sale to repay loans incurred to pay inheritance taxes. Additionally, there is analysis suggesting that a sale between major shareholders was chosen to minimize the impact on the market.
The Samsung owner family has been paying a total of 12 trillion won in inheritance tax on the estate of the late Chairman Lee Kun-hee, who passed away in 2020, amounting to approximately 26 trillion won, in six installments over five years, and the payment of the inheritance tax was completed last April.
It is reported that during this process, shares held in companies such as Samsung Electronics Co., Ltd., SDS, and Samsung C&T Corporation were sold, or stock-backed loans were utilized, in order to raise funds for inheritance tax.
This transaction is scheduled to take place via over-the-counter trading on October 12, and the disclosure on that day stated that 7,188,793 common shares would be traded at 269,500 won per share. The total value is approximately 1.9373 trillion won, and the actual transaction price and quantity are subject to change. The purchase amount was calculated based on the closing price of the business day prior to the submission of the report.

[email protected] Kim Hak-jae, Im Su-bin Reporter