Hong Ra-hee, Honorary Director, to Gift Lee Jae-yong 0.17% of Samsung Electronics; Gift Tax Estimated at Around 1.56 Trillion Won

[Financial News] Hong Ra-hee, honorary director of Leeum Museum of Art, will gift Lee Jae-yong, chairman of Samsung Electronics, a 0.17% stake in Samsung Electronics. As a result, Lee’s stake in Samsung Electronics will rise from 1.58% to 1.75%. With the transfer of some shares held by his mother, Hong, Lee’s direct stake in Samsung Electronics will increase. Industry sources estimate the gift tax at around 1.5 trillion won.
Samsung Electronics disclosed on the 13th that Hong will gift Lee 11,158,000 shares of Samsung Electronics (0.17%) that she holds. Once the gift is completed, Hong’s stake in Samsung Electronics will fall from 0.98% to 0.81%, while Lee’s will rise from 1.58% to 1.75%.
The gift is scheduled for November 12, one month later. The gift tax is set to be assessed early next year based on the average share price over the two months before and after the scheduled gift date. According to industry sources, the expected gift tax is estimated at around 1.56 trillion won when calculated using the day’s closing price of 233,500 won.
Industry sources believe that, as this is a transaction between family members, there will be no change in the overall ownership percentages and the impact on the market will be limited.
An industry official explained, “This differs from increasing a stake through market purchases. Since existing shares are being gifted, the transaction itself will neither increase the number of shares issued by Samsung Electronics nor dilute the stakes of other shareholders, and it will not bring new funds into Samsung Electronics.”
[email protected] Kim Hak-jae, Lim Su-bin Reporter