From left, former Leeum Museum of Art Director Hong Ra-hee, Hotel Shilla President Lee Boo-jin and Samsung C&T President Lee Seo-hyun / Yonhap By Yi Whan-woo Chaebol families unloaded over 5 trillion won ($3.62 billion) worth of shares over the last year and a half, including 3.31 trillion won from the mother and two younger sisters of Samsung Electronics Executive Chairman Lee Jae-yong, data showed Wednesday.
The data released by corporate tracker CEO Score showed spouses, children and other members from founding families of 71 conglomerates sold stocks worth 5.067 trillion won in total between January 2023 and June this year. The stocks were issued by corresponding affiliates of the 71 conglomerates.
CEO Score assessed that Chaebol families sold shares to secure cash for inheritance taxes, succession planning and other purposes essential for the longevity of their conglomerates. Korea likely to face higher defense cost pressure if Trump is re-elected 2024-07-17 15:57 | Foreign Affairs The Samsung family spearheaded the sales, with the executive chairman's mother, Hong Ra-hee, and his two sisters, Lee Boo-jin and Lee Seo-hyun, occupying the top three positions. A former director of the Leeum Museum of Art, Hong unloaded shares worth 1.
405 trillion won in Samsung Electronics. Lee Boo-jin, president of Hotel Shilla, and Lee Seo-hyun, president of Samsung C&T's fashion division, each secured 615.9 billion won and 760.
6 billion won in cash by selling shares in Samsung Electronic.
