According to financial insiders, Hong sold 15 million Samsung Electronics shares, about a 0.25 percent stake, through an after-hours block trade on Thursday, which typically occurs after stock market hours close, allowing large transactions without disrupting regular trading.
The shares were priced at 205,237 won each, reflecting a 2.5 percent discount to the previous day’s closing price of 210,500 won. The sell-off totaled about 3.08 trillion won, reducing her stake from 1.49 percent to 1.24 percent.
Hong and her family members including current Samsung chief Lee Jae-yong, have been paying inheritance taxes of roughly 12 trillion won over five years.
They took out hundreds of billions of won in bank loans and other resources to cover the taxes after their patriarch's death in 2020, with full payment expected this month.
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