South Korean court rules in favour of Samsung chairman in the inheritance suit

Lee Kun-hee

The inheritance lawsuit involving Samsung Electronics chairman, Lee Kun-hee and his family members has come to an end. The Seoul Central District Court judge ruled that Lee Kun-hee will be able to retain more than $1 billion of stock in Samsung Electronics and Samsung Life whereas Samsung Everland, where Lee is the biggest shareholder in the company will be able to hold a $1 billion stake in Samsung Life.

As Reuters notes, if the ruling was against the Samsung chairman, he wouldn’t have lost control in Samsung Electronics but would’ve “diluted his holdings and could have forced a reshuffling of the intricate shareholdings across the Samsung group” considering Lee is grooming Jay Y Lee to be the imminent successor.

Last year, Lee Kun-hee was sued by his brother, sister and nephew’s family accusing him to transfer shares under his own name from the trust of Samsung founder, Lee Byung-chull.