The total value of the shares put up for sale in the four companies of the group, estimated at about $2 billion, of which the majority are 30 million shares of Samsung Electronics - discounted 2% from the closing price on January 10 (73,600 won/share). In addition, shares of Samsung SDS, Samsung C&T and Samsung Life Insurance are also on sale.

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The total number of shares for sale in four Samsung companies is up to 2 billion USD.

One or a group of family members of Samsung founder Lee Kun-hee, who died in 2020, is selling shares to pay inheritance fees through a trust fund run by KEB Hana Bank, Bloomberg reported.

In March 2022, the Lee family was also said to have sold $1.1 billion worth of Samsung Electronics shares to pay taxes of about 12 trillion won.

Representatives of South Korea's largest corporation declined to comment on information about the above transactions.

Citigroup, JPMorgan Chase, Goldman Sachs Group and UBS Group AG are currently the financial underwriters for transactions involving Samsung and its related subsidiaries.

The current chairman of the Korean tech giant is Lee Jae-yong, son of the late founder Lee Kun-hee. Although his father died in 2020, the appointment of “crown prince” Lee to the top position of the empire will not be completed until 2022 due to Jae-yong being involved in a bribery and stock market manipulation case.

In August 2022, Mr. Lee Jae-yong received a pardon from the President of South Korea, legitimizing his appointment even though he had long held the group's executive power as Vice Chairman.

Samsung opts for stability in this year's leadership reshuffle In this year's leadership reshuffle, Samsung announced the creation of a new group responsible for exploring future business categories, appointing a senior "veteran" as its head.