Samsung Family Completes Lee Kun-hee Share Inheritance... Vice Chairman Lee Strengthens Control (Comprehensive)

Samsung Electronics, Samsung C&T, and SDS Inherited According to Legal Ratios
Vice Chairman Lee Inherits Half of Samsung Life Shares
Mrs. Hong Supports Vice Chairman Lee by Yielding Life Insurance Inheritance
Vice Chairman Lee's Control Strengthened Without Changes in Governance Structure

[Asia Economy Reporters Su-yeon Woo and Hyun-jin Jung] The division of inheritance of shares held by the late Samsung Chairman Lee Kun-hee has been completed among the Samsung family. Shares of Samsung Electronics, Samsung SDS, and Samsung C&T were divided according to the statutory inheritance ratio, recognizing each heir's property rights to the fullest extent, while the bereaved family handed over half of the Samsung Life Insurance shares to Vice Chairman Lee Jae-yong, strengthening the group's management control.

According to the Financial Supervisory Service disclosure on the 30th, Samsung Electronics, Samsung SDS, and Samsung C&T announced that they inherited the shares held by the late Chairman Lee to the bereaved family according to the statutory inheritance ratio. The statutory inheritance ratio is 3/9 (33%) for Lee's wife, Hong Ra-hee, and 2/9 (22%) each for the three siblings: Vice Chairman Lee Jae-yong, Lee Boo-jin, President of Hotel Shilla, and Lee Seo-hyun, Chairwoman of the Samsung Welfare Foundation.

The shares left by Chairman Lee include 4.18% of Samsung Electronics, 20.76% of Samsung Life Insurance, 2.88% of Samsung C&T, and 0.01% of Samsung SDS. Since the shareholding ratios of Samsung Electronics, Samsung C&T, and Samsung SDS are not high, it appears that the shares were divided according to the statutory ratio, as the inheritance is not expected to significantly affect management control.

However, the bereaved family supported strengthening management control by transferring more than half of the Samsung Life Insurance shares, where Chairman Lee was the largest shareholder with over 20% ownership, to Vice Chairman Lee. It is reported that Mrs. Hong conceded her inheritance portion of Samsung Life Insurance shares to strengthen Vice Chairman Lee's management control. As a result, Vice Chairman Lee was able to increase his shareholding in Samsung Life Insurance from the existing 0.06% to 10.44%.

Changes in Major Samsung Group Affiliates' Shareholding Ratios After the Inheritance of Shares Held by the Late Chairman Lee Kun-hee

With this share inheritance, Vice Chairman Lee's control within the group has become even more solidified, and there is no significant change in the governance structure that flows from 'Samsung C&T → Samsung Life Insurance → Samsung Electronics.' Vice Chairman Lee is the largest shareholder of Samsung C&T with 17.97% ownership and has secured a 10.44% stake in Samsung Life Insurance, the second key affiliate, thereby securing control over the remaining affiliates.

Looking at the shareholding details by affiliate after inheritance, in Samsung Electronics, Mrs. Hong holds 2.30%, Vice Chairman Lee 1.63%, and President Lee and Chairwoman Lee each hold 0.93%. Mrs. Hong became the largest shareholder in a personal capacity.

In Samsung C&T, Vice Chairman Lee is the largest shareholder with 17.97%, and President Lee and Chairwoman Lee each secured 6.19%. Mrs. Hong holds 0.96%. Samsung SDS shares are arranged with Vice Chairman Lee holding 9.2%, and President Lee and Chairwoman Lee each holding 3.9%.

Finally, in Samsung Life Insurance, Vice Chairman Lee, who inherited half of the shares, increased his stake to 10.44%, President Lee holds 6.92%, and Chairwoman Lee holds 3.46%. Mrs. Hong conceded her inheritance portion to Vice Chairman Lee, making him the second-largest shareholder of Samsung Life Insurance. A Samsung Group official stated, "While recognizing the family members' property rights to the maximum extent, the decision was made through a smooth agreement reflecting the individual intentions comprehensively."

Meanwhile, on the same day, which was the deadline for payment of Chairman Lee's inheritance tax, the bereaved family reported the inheritance tax to the Yongsan Tax Office through the law firm Kim & Chang and paid 2 trillion won, which is one-sixth of the declared tax amount (about 12 trillion won).

This content was produced with the assistance of AI translation services.