Hong Na-hee, the widow of late Samsung Group Chairman Lee Kun-hee, has sold nearly 3.1 trillion won (approximately US$2.1 billion) of her shares in Samsung Electronics to complete the estate tax payment on the late tycoon’s assets, industry insiders revealed on Thursday.
According to sources, Hong Raxi sold 15 million shares of Samsung Electronics in a block transaction before the stock market opened earlier in the day. The shares were sold at 205,237 won per share, reducing Hong Ra-hee's shareholding ratio from 1.49% to 1.24%.
The sale marks the completion of the family's estate tax payments totaling approximately 12 trillion won, which are to be paid over five years starting in April 2021.
Since 2021, Lee Jae-yong and his two sisters, together with Hong Ra-hee, have paid inheritance taxes by selling shares in group companies and other financing methods.
When the late Samsung Group Chairman Lee Kun-hee passed away in October 2020, he left approximately 26 trillion won in assets, including 19 trillion won worth of stocks.
The payment of inheritance taxes is expected to reduce the family's financial pressure and may accelerate Lee's "New Samsung" growth strategy.