Samsung Electronics Executive Chairman Jay Y. Lee bought 7,188,793 Samsung Electronics common shares from his mother, Hong Ra-hee, in an off-market transaction valued at 1.9374 trillion won ($1.4 billion). The shares, representing about 0.11% of Samsung Electronics, were transferred at 269,500 won each, matching the company's closing price on the previous business day. Lee's combined common- and preferred-share stake rose to 1.58% from 1.47%, while the transaction kept the shares within the controlling family. The direct transfer avoided a block sale that could have required a discount and added short-term pressure to the stock. Business circles believe Hong raised cash to repay stock-backed loans used during the family's payment of more than 12 trillion won in inheritance tax following the October 2020 death of late Samsung Chairman Lee Kun-hee. The tax payments were completed in April this year, though borrowings raised for them remain.