[비즈한국] Land around Everland in Yongin, Gyeonggi-do, which had remained in the name of the late Samsung Electronics005930 Chairman Lee Kun-hee, has been registered under the joint names of his bereaved family approximately five years after his passing. The transferred land is 2.3 times the size of Yeouido, Seoul, making it the largest among Chairman Lee Kun-hee's real estate holdings. With the large-scale property title transfer occurring immediately after the announcement of the Samsung family's completion of inheritance tax payments, it is observed that the settlement of remaining inherited real estate will likely accelerate.
According to Bizhankook's coverage, Hong Ra-hee, Honorary Director of Leeum Museum of Art, Samsung Electronics Chairman Lee Jae-yong, Hotel Shilla CEO Lee Boo-jin, and Samsung C&T President Lee Seo-hyun recently completed the inheritance registration for 739 plots of land around Everland in Yongin, Gyeonggi-do, previously owned by the late Chairman Lee Kun-hee. The inherited shares are split 3/9 for Honorary Director Hong and 2/9 each for the three children, matching the legal inheritance ratio for a spouse and children. The total inherited land spans 6.7 million square meters, which is 2.3 times the area of Yeouido, Seoul. This is the largest scale identified among the real estate registered under the late Chairman's name.
The value of the land is estimated to exceed 500 billion won. It is understood that the family purchased a total of 20.7 billion won in National Housing Bonds during the inheritance registration process. In Yongin, inheritance registration for high-value real estate requires the purchase of National Housing Bonds equivalent to 3.9% of the government-assessed standard market price. Applying this ratio in reverse, the standard market price for the inherited land is approximately 532 billion won, though the actual taxable value for inheritance tax purposes may differ.
The inheritance registration of the land around Everland was completed shortly after the announcement that the Samsung family had fully paid their inheritance taxes. Samsung Electronics stated on the 3rd that the bereaved family, including Chairman Lee Jae-yong, had paid all inheritance taxes on the late Chairman Lee Kun-hee's estate. The scale of the estate, including affiliate shares, real estate, and art pieces left by Chairman Lee Kun-hee, was estimated at approximately 26 trillion won, with inheritance taxes totaling about 12 trillion won. The bereaved family has been paying the taxes in installments since 2021, financing the payments through stock sales, dividends, and loans.
This inheritance registration is seen as a signal that the process of settling title changes for Chairman Lee Kun-hee's real estate is shifting into full gear. Some of the real estate previously under Chairman Lee's name has already been sold following inheritance registration. However, key properties—such as detached houses in Hannam-dong, Itaewon-dong, and Samseong-dong (Seoul); the Traum House 5th apartment in Seocho-dong; commercial and office facilities in Cheongdam-dong; and land in Sora-myeon, Yeosu (South Jeolla Province) and Byeonggok-myeon, Yeongdeok (North Gyeongsang Province)—still require individual settlement. With the Everland land registration completed following the tax payoff, it is expected that the transfer of remaining properties will accelerate.
Bizhankook inquired about the utilization and sale plans for the Yongin real estate and the inheritance process for the late Chairman's remaining properties, but Samsung Electronics replied, "We are unaware of details regarding personal inheritance matters."