Hong Ra-hee to Sell 15 Million Samsung Electronics Shares... Why She Is Cashing Out 2 Trillion Won

At the commissioning and graduation ceremony for the 139th Navy and Marine Corps Officer Candidates held last November at the Naval Academy parade ground in Changwon, Gyeongnam, Samsung Electronics Chairman Lee Jae-yong and Hong Ra-hee, Honorary Director of the Leeum Museum of Art, are taking a commemorative photo with newly commissioned Second Lieutenant Lee Jiho. Photo by Yonhap News

Hong Ra-hee, Honorary Director of the Leeum Museum of Art, will sell 15 million shares of Samsung Electronics to pay inheritance taxes and repay loans.

According to the Financial Supervisory Service's electronic disclosure system on the 18th, Honorary Director Hong signed a securities disposal trust agreement with Shinhan Bank on January 9 for 15 million shares of Samsung Electronics.

Based on the closing price on the contract date (139,000 won), the total amount is approximately 2.085 trillion won.

This sale is seen as a move by the Samsung family to secure cash for the final payment of inheritance taxes, which have been paid in installments following the passing of the late Samsung Chairman Lee Kun-hee. Since 2021, the Samsung family has been paying the taxes in six installments over five years through an annual installment plan, with the final payment due in April this year.