Samsung Group hit by dispute over inheritance

News Desk in Seoul/The Korea Herald
Asia News Network

Seoul (The Korea Herald/ANN) -

The Samsung Group family has been embroiled in a dispute over the inheritance of its founder.

Lee Maeng-hee, the eldest son of the late founder Lee Byung-chull, filed a suit with a Seoul court demanding Lee Kun-hee, chairman and the third son, return what he says is his portion of the founder's estate.

He claimed that his father had entrusted shares of group companies under a third party's name but Lee Kun-hee ended the arrangement and moved them to his possession without the consent of the other heirs.

He demanded the Samsung chairman transfer 8.24 million shares of Samsung Life Insurance, 20 shares of Samsung Electronics and 100 million won.

He also demanded that Samsung Everland give back 100 shares of the insurance firm and 100 million won.