THE family of late Samsung Group chairman Lee Kun-hee is planning to sell stakes in group affiliates worth 2 trillion won (RM6.9 billion) to pay inheritance taxes, showed regulatory filings today.

Hong Ra-hee, the widow of the late business tycoon who died in October last year, plans to sell 19.9 million shares in Samsung Electronics Co. – estimated at 1.4 trillion won as of the closing price on Friday, according to the filing.

The shares account for around 0.33% of the top chipmaker in the world, reported Yonhap news agency.

The filing said the stock sales are aimed at “paying inheritance taxes”.

Lee, who was the richest man in South Korea, left assets estimated to be worth around 26 trillion won, including stocks valued at 19 trillion won. He was survived by his wife, son Jae-yong and daughters Boo-jin and Seo-hyun.

When the process is completed, Hong’s shares in Samsung Electronics will fall to 1.97% from 2.3%.

Boo-jin – who heads another affiliate, Hotel Shilla Co. – through a regulatory filing also announced that she plans to sell shares worth 242.2 billion won in Samsung SDS Co.

Seo-hyun, who heads the Samsung Welfare Foundation, plans to sell shares worth 247.3 billion won in Samsung Life Insurance Co. and 242.2 billion won in Samsung SDS Co.

The combined shares to be sold by the family members add up to about 2.1 trillion won.

In April, the family members said they plan to pay around 12 trillion won in inheritance tax over the next five years. – Bernama, October 9, 2021.