Sibling rivalry: Samsung boss sued by brother for inheritance sum
THE CHAIRMAN of Samsung is being sued by his brother for 700bn Korean won (£397m) over an inheritance of company shares from their father.
Lee Maeng-Hee, 80, is suing Lee Ken-Hee, the 70 year old chairman of the South Korean electronics company, over eight million shares in Samsung Life Insurance and 20 shares in the group’s flagship division Samsung Electronics.
Maeng-Hee claims his younger brother took over the shares which their father – who died in 1987 – had held under the names of non-heirs.
The shares “should have been apportioned to the heirs according to law”, Maeng-Hee argued in court documents.
It is unclear why Maeng-Hee has filed the lawsuit at this time.
A team of ten at law firm Hwawoo is acting for claimant Maeng-Hee.
Maeng-Hee is being represented by a team of ten at law firm Hwawoo.