Samsung C&T and Samsung SDS "Inheritance to Lee Jae-yong and family members according to legal shares"

[Asia Economy Reporter Jeong Hyunjin] Samsung C&T and Samsung SDS announced that they have inherited the shares of the late Samsung Chairman Lee Kun-hee to his heirs, including Samsung Electronics Vice Chairman Lee Jae-yong, according to the legal proportions.

Samsung C&T stated that among Chairman Lee's 5.42 million shares, 1.8 million shares were inherited by his wife, Hong Ra-hee, and 1.2 million shares each were inherited by Vice Chairman Lee Jae-yong, Hotel Shilla President Lee Boo-jin, and Samsung Welfare Foundation Chairperson Lee Seo-hyun.

Accordingly, Vice Chairman Lee Jae-yong's stake in Samsung C&T becomes 17.97%, President Lee Boo-jin and Chairperson Lee Seo-hyun each hold 6.19%, and Mrs. Hong holds 0.96%. As of the 24th of last month, the shareholding ratios were 17.48% for Vice Chairman Lee Jae-yong, 5.60% each for President Lee Boo-jin and Chairperson Lee Seo-hyun, and Mrs. Hong did not hold any shares in Samsung C&T.

Samsung SDS also announced that among Chairman Lee's 9,701 shares, 3,233 shares were inherited by Mrs. Hong, and approximately 2,100 shares each were inherited by Vice Chairman Lee Jae-yong, President Lee Boo-jin, and Chairperson Lee Seo-hyun.

This distribution result matches the legal inheritance ratio, where Mrs. Hong receives 3/9 and the three siblings each receive 2/9.

According to disclosures by Samsung Group and the Financial Supervisory Service, the shares left by Chairman Lee included 4.18% of Samsung Electronics, 20.76% of Samsung Life Insurance, 2.88% of Samsung C&T, and 0.01% of Samsung SDS. The value of these shares amounts to approximately 19 trillion won. Samsung Group has a governance structure that connects Samsung C&T → Samsung Life Insurance → Samsung Electronics, where Vice Chairman Lee, the largest shareholder of Samsung C&T, indirectly controls Samsung Electronics through C&T and Life Insurance.

If the division ratio of Chairman Lee's shares had not been finalized, the heirs could report according to the legal inheritance ratio or a provisional plan and later file a revised report after confirming the division ratio.