Samsung chairman to receive Samsung Electronics shares worth $1.94 bil. from mother
Samsung Electronics Executive Chairman Lee Jae-yong will receive the company’s shares worth 2.6 trillion won ($1.94 billion) from his mother, former Leeum Museum of Art Director Hong Ra-hee. According to the company’s regulatory filing Tuesday, Hong will gift approximately 11.16 million shares of Samsung Electronics to Lee. The shares represent a 0.17 percent stake in the company and are worth…
Samsung Electronics Chairman Lee Jae-yong will soon receive a substantial gift of company shares worth $1.94 billion from his mother, Hong Ra-hee, according to a regulatory filing. The former director of the Leeum Museum of Art will present Lee with approximately 11.16 million shares, representing a 0.17 percent stake in the company.
The shares are valued at around 2.6 trillion won based on Tuesday's closing price. The agreement was signed on October 12, with the transfer expected to be finalized by November 12. Currently, Lee holds a 1.58 percent stake in Samsung Electronics, which will increase to 1.75 percent post-transfer. Hong's shareholding will decrease from 0.99 percent to 0.82 percent.
Samsung Life Insurance, with an 8.51 percent stake, remains the company's largest shareholder. Together with other Samsung affiliates, related parties, and the largest shareholder group, holds a total of 19.7 percent of the company's voting shares. The gift tax liability will be determined later.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- Samsung chairman to receive Samsung Electronics shares worth $1.94 bil. from mother koreatimes.co.kr
- Samsung Chairman Lee Jae-yong to receive 2.6 tln won in shares from mother en.yna.co.kr
- Samsung Electronics chairman Lee to receive 2.6 trillion won worth of shares from mother, reports say channelnewsasia.com
