Samsung Heirs to Sell $1.8 Billion of Shares for Tax Bill
Hong Ra-hee
Photographer: Pascal Le Segretain/Getty Images
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Heirs of the late Samsung Group chairman plan to sell shares in group companies worth about $1.8 billion to help pay inheritance-tax bills that total more than 12 trillion won ($10 billion).
Hong Ra-hee, wife of the late Lee Kun-hee, signed a trust agreement with Kookmin Bank on Oct. 5 to dispose of 19.9 million shares, or a 0.33% stake, in Samsung Electronics Co., according to a filing. The stake is worth about 1.4 trillion won, based on Friday’s closing price of 71,500 won.