Samsung Electronics Chairman Lee to Receive 2.6 Trillion Won Worth of Shares From Mother, Reports Say
Hong Ra-Hee’s transfer would raise Lee Jae-Yong’s Samsung Electronics stake to 1.75% and could trigger about 1.56 trillion won in gift tax.
- Art Director Hong Ra-hee gifted 11.16 million Samsung Electronics shares to her son, Samsung Electronics Executive Chairman Lee Jae-yong, on Tuesday in a transaction valued at roughly 2.6 trillion won .
- Signed Oct 12, the agreement continues a multi-year effort by the widow of Samsung Group Chairman Lee Kun-hee to transfer assets and help Lee consolidate control over Korea's largest conglomerate.
- Once the transfer completes in Nov, Lee's stake in Samsung Electronics will rise from 1.58 percent to 1.75 percent, while Hong's ownership declines from 0.99 percent to 0.82 percent.
- Gift taxes for the transaction are estimated to reach around 1.56 trillion won early next year, including premiums applied to shares held by controlling shareholders.
- Hong's prior transfers, including her gifting approximately 1 percent of Samsung C&T to Lee Last December, demonstrate a long-term strategy to cement the family's influence within the conglomerate.
12 Articles
12 Articles
The President of Samsung Electronics, Li Jae Young, will receive from his mother Hong Ra Hee shares of the corporation of 2.6 trillion won, or 1.94 billion dollars. Hong Ra Hee will contribute about 11.16 million shares of Samsung Electronics on November 12, written by Yonhap. After that, Li Jae Young's share of the South Korean company will increase from the current 1.58 to 1.75%. The transfer of shares will take place about a month after Hong …
Hong Ra-hee, Honorary Director of the Leeum Museum of Art, is gifting 2.6 trillion won worth of Samsung Electronics shares to her son, Lee Jae-yong, Chairman of Samsung Electronics. Samsung Electronics announced on the 13th that Director Hong is gifting 11,158,000 shares of Samsung Electronics stock to Chairman Lee. Based on Samsung Electronics' closing price on that day, the value of the gift is approximately 2.6 trillion won.
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 approximately 2.6 trillion won based on Tuesday’s cl…
Channel News Asia
Samsung Electronics chairman Lee to receive 2.6 trillion won worth of shares from mother, reports say
SEOUL, Oct 13 : Samsung Electronics Chairman Jay Y. Lee will receive about 11.16 million Samsung Electronics shares worth roughly 2.6 trillion won ($1.9 billion) from his mother, Hong Ra-hee, according to South Korean media reports on Tuesday. ( $1 = 1341.3 won )
(Seoul = Yonhap News) Reporters Cho Seong-heum, Kim Min-ji, and Kang Tae-woo = Samsung Electronics Chairman Lee Jae-yong received Samsung Electronics shares worth 2.6 trillion won from Hong Ra-hee, Honorary Director of the Leeum Museum of Art...
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