Hong Ra-hee Settles Inheritance Tax with Sale of Trillion-Won Samsung Electronics Shares

Hong Ra-hee, Honorary Chairman of the Leeum Museum of Art, has finalized the inheritance tax payments for the late Lee Kun-hee, former chairman of Samsung, by selling Samsung Electronics shares worth approximately 3.08 trillion won. This stock sale represents the final step in settling the inheritance tax, estimated at 12 trillion won.

The Samsung founding family has been paying the inheritance tax in installments over six periods since 2021, using a deferred payment system.

The sale price was set at 205,237 won per share, a 2.5% discount from the previous day's closing price of 210,500 won. Following this transaction, Hong Ra-hee's stake in Samsung Electronics decreased from 1.49% to 1.24%.

Five securities firms, including Citigroup Global Markets Securities, JP Morgan, Bank of America (BofA), UBS, and Shinhan Investment Corp., reportedly participated as joint underwriters for this block deal.