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Samsung heirs top Korea s stock-rich list By (0) After Samsung Group Chairman Lee Kun-hee (C) died in October, his son Lee Jae-yong (L, second row) became the richest South Korean businessman in terms of stock wealth, followed by Lee Kun-hee’s wife, second from left in the second row, and his two daughters on his flank. Photo courtesy of Samsung Group SEOUL, May 6 (UPI) Heirs of Samsung Chairman Lee Kun-hee topped South Korea s most stock-rich people list thanks to the massive wealth they inherited after Lee died last year, according to the Korea CXO Institute. The Seoul-based business tracker said Samsung Electronics Vice Chairman Lee Jae-yong became South Korea s richest business person in terms of stock wealth, with values reaching $8.5 billion as of the end of April. ....
April 29, 2021 12:00 Samsung on Wednesday did not reveal how much of patriarch Lee Kun-hee s shareholdings in Samsung subsidiaries each heir is going to inherit. Lee owned 4.18 percent of Samsung Electronics, 20.75 percent of Samsung Life, a controlling 2.88 percent of de facto holding company Samsung C&T, and 0.01 percent of Samsung SDI, worth a total of around W19 trillion. The Byzantine ownership structure of Samsung, Korea s largest conglomerate, means that who controls the empire depends on how those equity stakes will be distributed between Lee s widow Hong Ra-hee, son Lee Jae-yong and daughters Lee Bu-jin and Lee Seo-hyun. By law, Hong stands to receive W6.3 trillion worth of shares in Samsung affiliates, while the three children each get W4.2 trillion. But an inside source said, The inheritance was not divided according to the legal ratio. I’m told that Hong gave up her portion. That means the stakes will be divided by the three children. ....
Samsung Heir Lee Jae-yong Is Looking To Secure A $450 Million Loan Advertisement Advertisement Lee Kun-hee, the man who made Samsung what it is today, passed away at the age of 78 in October last year, leaving behind a fortune in stocks and assets with a total value of around 23 trillion won (~$21 billion). Lee’s heirs are now expected to inherit that fortune. However, they will have to pay an inheritance tax that could go as high as 13 trillion won ($11.7 billion), the highest in South Korea’s history. Now, according to the Korean media, Samsung Electronics Vice Chairman Lee Jae-yong is looking to secure a personal loan of 500 billion won ($450 million) for financing the inheritance tax. This would also be the highest single personal credit loan in South Korea’s history. But, if someone can obtain it, that would be Lee Jae-yong, of course. He is the de-facto leader of the Samsung conglomerate, after all. ....