Chairman Lee Kun-hee's Itaewon House Listed for 21 Billion Won... Presumed for Inheritance Tax Payment Purpose
[Asia Economy Reporter Park Ji-hwan] The single-family house in Itaewon, previously owned by the late Lee Kun-hee, chairman of Samsung Group, has reportedly been put on the market.
According to the real estate industry on the 25th, the house and land located at 101-34 and 135-35 Itaewon-dong, Yongsan-gu, Seoul, owned by Chairman Lee Kun-hee, have been listed for sale. The property consists of two buildings with a land area of 1,069㎡, featuring one basement floor and two above-ground floors.
The asking price is reported to be around 21 billion KRW, approximately 65 million KRW per 3.3㎡.
After Chairman Lee's passing, the house was inherited according to legal shares: Hong Ra-hee, former director of the Leeum Museum of Art, received 3/9, while Lee Jae-yong, vice chairman of Samsung Electronics, Lee Boo-jin, president of Hotel Shilla, and Lee Seo-hyun, director of the Samsung Welfare Foundation, each inherited 2/9.
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The real estate industry views that the Samsung family is selling the house to pay inheritance taxes.
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