According to Yonhap News Agency, Samsung Group's "Princess" Li Fuzhen pledged his shares in Samsung Electronics as a pledge, and loaned 100 billion won (approximately RMB 540 million).
The industry generally believes that this loan is used to pay inheritance taxes.
Li Fuzhen, 51 years old, is the eldest daughter of the late Samsung Group chairman Li Jianxi and the president of the Shilla Hotel.
According to an electronic announcement issued by the Korean Financial Supervisory Service on the 2nd, Li Fuzhen pledged his 2.532 million shares of Samsung Electronics on October 27, and loaned 100 billion won.
The loan interest rate is 4%, and the repayment period is until January 24, 2022.
On October 5th, Li Jianxi’s widow Hong Luoxi signed a contract with KB Kookmin Bank for the sale of 19,941,860 shares of Samsung Electronics, which is equivalent to 0.33% of the shares of Samsung Electronics, on the grounds of paying inheritance tax.
Based on the closing price of the day, the market value is approximately 1.4 trillion won.
On the same day, Li Fuzhen and Li Jianxi's second daughter Li Xuxian also signed contracts with KB Kookmin Bank on entrusting the sale of their shares.
Li Jianxi’s legacy includes stocks, artworks, real estate and cash, with a total value of approximately KRW 26 trillion (approximately RMB 141.6 billion).
Among them, the market value of the subsidiary alone amounts to 19 trillion won.
On April 30 this year, Li Jianxi’s survivors declared an inheritance tax of more than 12 trillion won (approximately RMB 65.3 billion) to the Yongsan Taxation Office in Seoul, and applied for payment in five years.
When filing taxes, first pay one-sixth of the inheritance tax (about 2 trillion won), and the remaining 10 trillion won will be paid by 2026 at an annual interest rate of 1.2%.
(Producing Li Jiali)
Editor in charge: [Li Yuxin]