Lee Jae-yong, Chairman of Samsung Electronics, is set to receive a gift of approximately 2.6 trillion won worth of Samsung Electronics shares from his mother, Hong Ra-hee, Honorary Director of the Leeum Museum of Art. As a result, Lee (Chairman)'s stake in Samsung Electronics will increase from 1.58% to 1.75%.
Samsung Electronics disclosed on the 13th that Honorary Director Hong is gifting 11,158,000 shares (0.17%) of her holdings to Lee (Chairman). Based on Samsung Electronics' closing price on that day, the value of the gift is approximately 2.6 trillion won.
Currently, Lee (Chairman) holds 100,021,9053 shares of Samsung Electronics, representing a stake of 1.58%. Once this gift is completed, his holdings will increase to 116,377,053 shares, and his stake will become 1.75%. Honorary Director Hong's stake will decrease from 0.98% to 0.81%.
The scheduled date for the gift is November 12. The gift tax will be assessed based on the average closing price over two months before and after the transfer date, so the tax amount is expected to be calculated in early next year. A simple estimate of the gift tax based on that day's closing price is approximately 1.55 trillion won.
In addition, Lee (Chairman) purchased 7,188,793 shares of Samsung Electronics held by Honorary Director Hong the previous day. The transaction size was approximately 1.92 trillion won. This transaction is known to have been made to help Honorary Director Hong secure funds for tax payments.
Industry observers view the impact on the market as limited, given that it is a transaction between family members and the overall change in shareholding ratio is not significant. However, interpretations also emerge that this gift signifies an effort to strengthen group control by increasing Lee (Chairman)'s direct stake in Samsung Electronics.
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