[Edaily Reporter Choi Oh-hyun ] SamsungElectronics Chairman Jay Y. Lee is set to purchase approximately 1.94 trillion won worth of SamsungElectronics shares held by his mother, Hong Ra-hee, the former director of the Leeum Museum of Art, in an over-the-counter transaction.

According to the Financial Supervisory Service’s electronic disclosure system on the 9th, Chairman Lee plans to purchase 7,188,793 shares of SamsungElectronics common stock from former Director Hong on October 12 via an over-the-counter transaction. The transaction price is 269,500 won per share, for a total transaction value of 1.93737971 trillion won. The transaction price was calculated based on SamsungElectronics’ closing price on the 8th, the business day prior to the report’s submission.

Upon completion of this transaction, Chairman Lee’s holdings of SamsungElectronics stock will increase from the current 97,551,953 shares to 104,747,406 shares. His ownership stake will also rise by 0.11 percentage points, from 1.47% to 1.58%.

According to the disclosure, the purpose of the transaction is the “acquisition of shares from a related party.” The number of shares Chairman Lee is acquiring in this transaction represents approximately 0.11% of SamsungElectronics’ total issued shares.

This transaction is particularly noteworthy as a large-scale intra-family share deal worth approximately 1.94 trillion won. However, the disclosure did not specify details regarding Chairman Lee’s method of financing the share purchase or the background of the transaction. It is presumed that this is intended to repay the loan Chairman Lee took out from a financial institution to settle his inheritance tax in full.