Hong Ra-hee, honorary director of Seoul’s Leeum Samsung Museum of Art and a member of the Samsung founding family, plans to sell 15 million shares of Samsung Electronics to raise funds for inheritance-tax payments and loan repayments.
According to a regulatory filing disclosed on 1/18 local time, Ms. Hong entered into a discretionary trust agreement with Shinhan Bank on 1/9 covering the sale of the shares. Based on the stock’s closing price on the contract date, the transaction is valued at approximately $1.5 billion.
The sale is widely viewed as part of the Samsung family’s effort to meet the final installment of inheritance taxes following the death of former Samsung Chairman Lee Kun-hee in 2020. South Korea has one of the world’s highest inheritance-tax regimes, with top rates reaching up to 60% when controlling stakes are involved.
The Lee family has been paying the tax bill under a government-approved installment plan, spreading payments across six installments over five years, beginning in 2021. The final payment is due in April.
Family members have previously relied on dividend income, loans secured by shares, and selective stock sales to finance the tax obligation, which is widely considered the largest inheritance-tax payment ever imposed in South Korea.
Samsung Electronics shares—the cornerstone of the conglomerate’s ownership and control structure—remain central to the family’s wealth, making any large-scale sale closely watched by investors and the broader market.
