Samsung Chief to Become Korea's Richest Shareholder

  • By Seok Nam-jun

    November 03, 2020 12:24

    Samsung chief Lee Jae-yong is set to become the richest person in Korea after the recent death of his father Lee Kun-hee.

    According to financial information service FnGuide, Lee senior owned 4.18 percent of Samsung Electronics, which is valued at W17.3 trillion, which made him the richest stockholder in Korea (US$1=W1,136).

    Samsung chief Lee Jae-yong arrives at his father's funeral at Samsung Medical Center in Seoul on Oct. 25. /Yonhap

    Lee Jae-yong already ranks second with W7.2 trillion worth of stocks, while his mother Hong Ra-hee ranks fifth with W3.07 trillion in stocks. His two sisters, Lee Boo-jin and Lee Seo-hyun, both rank 14th with W1.66 trillion worth each.

    But if they inherit the late chairman's equity holdings according to the legally mandated ratio, his widow will receive W5.78 trillion and her three children W3.85 trillion each. That would boost Lee Jae-yong's total holdings to W11.91 trillion, making him the richest man in Korea.

    Hong will rank second with holdings totaling W8.84 trillion, while her daughters will rank third with W5.52 trillion each. Even if the widow and children sell off some stocks to pay an estimated W10 trillion in inheritance taxes, Lee Jae-yong will still rank first, Hong second and the daughters fifth.

    Hyundai honorary chairman Chung Mong-koo will rank third with W4.28 trillion, followed by Daum Kakao chairman Kim Beom-su with W4.13 trillion.

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