Open the legacy of the Samsung Kingdom

 

Lee Kun-hee, the richest person in South Korea and the president of Samsung Electronics South Korea's largest family-run business group He passed away on the morning of October 25 after a six-year battle with heart disease in the hospital.

Lee was born on January 9, 1942 in Uyryeong County. In South Gyeongsang Province Southeast of south korea He is the third child of Lee Byung-chul, the founder of the Samsung empire. Lee Kun-hee joined Samsung in 1968 and became president in December 1987.

Lee, the second generation of the Lee family. Leading Samsung, a global technology giant By under his leadership Samsung becomes the world's largest manufacturer of smartphones and memory chips. And the company's total revenues at present are one fifth of South Korea's GDP and have assets of approximately $ 35.5 billion.

The Samsung Group's business can be broken up in a wide variety of businesses, from electronics to electronics. Insurance to the shipyard And construction

“Mr. Lee is a true visionary who transforms Samsung into the world's foremost innovator. And drive local companies into world-class companies The legacy he has built will last forever, ”Samsung's mourning statement said.

Although the word "legacy" in the Samsung statement means. The work of management and the glory that Lee left for the next generation of company executives. But many people should want to know "The inheritance is the property of Lee. How many "more

According to Forbes magazine, Lee is estimated to have assets of $ 20.9 billion, or about 6.54 billion baht, including corporate shares. And the inheritance tax that the heirs must pay to the state And with his great wealth Therefore would like to be divided into categories as follows

Before death Lee is the wealthiest stock billionaire in South Korea. And has shares of 4 listed companies in the Samsung subsidiary The total value is approximately 18.2 trillion won (about 5.02 billion baht) counted to the closing price on Friday (23 October).

Data from the South Korean Fair Trade Commission indicates that Lee's shares also include Samsung common stock. Electronic 4.18% and preferred shares 0.08% worth approximately 15 trillion won.

Lee also holds a 20.76% stake in Samsung Life Insurance, worth approximately 2.6 trillion won, a 2.88% stake in Samsung C&T, which is a construction and de facto holding company of the Lee family, valued at 5.64 billion won. Won and a 0.01% stake in Samsung SDS, which operates an IT business, valued at approximately 1.67 trillion won.

The most expensive house

2 houses in the heart of Lee's Seoul They are the most expensive of all private villas in South Korea. The first one has an area of ​​1,245.1 square meters and the other has an area of ​​3,422.9 square meters.

Yonhap News Agency Reported earlier this year that Both Lee's houses cost 40,900 million won and 34,200 million won.

South Korea is one of the countries known "The most expensive inheritance tax in the world" with a progressive inheritance and grant tax. Which has the highest rate at 50%

In addition to collecting taxes on South Koreans Seoul's government is also taking the same measures against foreigners. It is considered a property in the territory of South Korea. The minimum property that is exempt from inheritance tax is 500 million won (approximately 13.8 million baht).

According to South Korean law Before the inheritance tax rate of 50% on registered shares The 20% share premium must be added to evaluate the share value of the deceased shareholder. This is based on the four-month average of the share price before and after the death of the former owner.

If calculated from the current share value The above mentioned inheritance tax of President Lee. Will have a total value of approximately 10.6 trillion won or approximately 2.92 billion baht

Lee Jae Young, the eldest son of Lee. Kun-Hee and the de facto Samsung heir Holds shares in 6 companies listed under the Samsung Group. Total value of approximately 7.2 trillion won (approximately 200 billion baht) counted to the closing price on October 23

The 52-year-old Samsung heir holds a 0.7% stake in the Samsung company. It also holds 9.2 percent in Samsung SDS, 1.5 percent in Samsung. Engineering Ring Which performs engineering And has less than 0.1% stake in Samsung Life Insurance and Samsung Fire and Marine Company, which operates fire and marine insurance business.

Lee Kun-hee's daughters are Libu Jin, 50, CEO of Hotel Shilla, and Lee Seo-hyun, 47, who runs the Samsung Foundation. Each holds shares in Samsung. C&T and Samsung SDS each, worth 1.6 trillion won.

Lee Jae-young who is vice president of Samsung Managed this giant empire since 2013 by the past, he left important events as a representative of Samsung. While waiting for the position of official group president Even before his father was admitted to the hospital

Lee welcomed former South Korean President Park Geun-hye in June 2013 when Park visited a Samsung chip factory in the Chinese city of Xi'an. Meeting with the leaders of the country that time Considered to be a public affirmation that He will take the wood from his father to run the Samsung Empire.

April 2014, Lee as Vice President of Samsung Attends a meeting with former US President Barack Obama in Seoul.

After his father's heart failure treatment in May 2014, Lee's role has grown rapidly over the past six years.

"Vice President Lee has made the final decision on the reorganization and business of the Samsung Group since 2014," said a Samsung official.

In 2016, Lee invested 9 trillion won to buy "Harman", the US in-car entertainment system business.

In the last year, during the celebration of the 50th anniversary of the Samsung Foundation. Lee announced a new vision under the name "Accompany" through an internal email address to employees and highlighted his efforts to find new growth drivers for the company.

"Artificial Intelligence (AI), Chipset, 5G and Auto Parts Business It's a new business that will transform Samsung under the management of Lee Jae-young, ”said one industry expert.

Last year, Lee announced plans to invest 133 trillion won in the processor chip business over the next 10 years.

In addition, Lee has built a strong network around the world. To step up to become the leader of the Samsung empire dignified It creates connections with CEOs of global companies such as General Motors (GM), Goldman Sachs, Coca-Cola and Boeing.

In recent years Lee continues his efforts to maintain global connections. With a meeting with "Larry Page" of Google, "Bill Gates" of Microsoft and "Mark Zuckerberg" of Facebook.

Meanwhile, heir of Samsung, who studied at Keio University in Tokyo. Also has strong ties in Japan

Lee previously flew to Tokyo to seek cooperation from business partners in Japan. To make an agreement on the delivery of chipmaking materials Which was ordered by the Japanese government to restrict exports to South Korea, the second part of the trade dispute last year.

Recently, Bloomberg reported that shares of Samsung Group's subsidiary rose amid speculation and that the company in the care of heir Chairman Lee Kun-Hee may raise dividends following the death of the chairman to help raise funds for the government. Pay inheritance tax

According to reports of major companies, hospitals and Korean investments Lee Kun-hee's heirs are estimated to be subject to an inheritance tax of approximately 10.9 trillion won, or about $ 966 billion.

Jung Kyung-dae, chief stock investment officer at Macquarie Investment Management Company, said the dividend hike alone might not be enough for the family to pay taxes and Lee Kun-hee's heirs might have to sell. Some property to cover all taxes

Kim Dong-Yang, a securities analyst for the company, said inheritance taxes are enormous. So family members may have no choice but to sell their stake in a non-core company like Samsung Life.