Detached House Inherited by Samsung Family from Late Lee Kunhee Sold for 22.8 Billion Won

Four Samsung Family Members Held Joint Ownership for Four Years
Purchased for 8.2 Billion Won, Sold at a 14.5 Billion Won Increase

It has been confirmed that the detached house inherited by the Samsung family after the passing of the late Samsung Chairman Lee Kunhee was sold for 22.8 billion won.

According to reports from Herald Economy and others on July 8, citing data from the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system and the court registry, the detached house located in Itaewon, Yongsan-gu, Seoul, was recently sold.

This house was jointly owned by four members of the Samsung family: Hong Rahee, Honorary Director of Leeum Museum of Art; Lee Jae-yong, Chairman of Samsung Electronics; Lee Boo-jin, President of Hotel Shilla; and Lee Seo-hyun, Head of Strategy and Planning at Samsung C&T. It has been reported that the four members of the Samsung family signed a contract to sell the house for 22.8 billion won on June 13.

After the late Samsung Chairman Lee Kunhee passed away, the detached house in Itaewon-dong, Yongsan-gu, Seoul, inherited by the Samsung family was recently sold for 22.8 billion won. Yonhap News

The house was purchased by the late Lee Kunhee in 2010 and was held by him until it was inherited by the four family members after his passing in 2020. The purchase price at the time was about 8.2 billion won, and 15 years later, it was sold for about 14.5 billion won more. However, as the transfer of ownership has not yet been completed, the buyer cannot be identified in the registry, and the identity of the purchaser remains unknown.

The detached house has a land area of 1,073.09 square meters (about 325 pyeong), a total floor area of 496.92 square meters (about 150 pyeong), and consists of one basement floor and two above-ground floors. Lee Kunhee purchased the house in September 2010 from Saehan Media, an affiliate of the broader Samsung Group. The location of the house is on the uphill road from Itaewon Station to the Hyatt Hotel, in an area commonly known as 'Samsung Family Town.'

After Lee Kunhee passed away in October 2020, the inheritance process was completed, and ownership was transferred to Hong Rahee (3/9 share), Lee Jae-yong, Lee Boo-jin, and Lee Seo-hyun (each with a 2/9 share). The four members of the Samsung family held the house for about four years before selling it this year.

Meanwhile, the four members of the Samsung family also sold another detached house in Itaewon that they inherited from Lee Kunhee. Ownership of this house was transferred to the four family members in May 2021, and it was listed for sale at 21 billion won shortly thereafter. This property has a land area of 1,069 square meters (about 323 pyeong), a total floor area of 488 square meters (about 148 pyeong), and consists of two buildings with one basement floor and two above-ground floors. However, the exact sale price has not been disclosed.