Samsung Electronics’ Chairman Lee Kun-hee has won a court case against his own relatives seeking a larger share in the company they inherited from their father. At stake were shares in the various holding companies from the Samsung conglomerate worth around $4 billion, which the relatives accused Lee Kun-hee of deliberately hiding from them.
Lee and the group holding company, Samsung Everland, were defending three lawsuits seeking stakes in Samsung Life Insurance and Samsung Electronics. A judge at the Seoul Central District Court ruled that Lee could retain more than $1 billion in Samsung Electronics shares and another $1 billion in shares of Samsung Life.
As a result, he will remain the largest single shareholder in Samsung Electronics with a personal stake of just under 21%, making him the richest man in South Korea with a personal fortune of $8.3 billion…