Apr 28, 2021

Samsung heirs to pay record inheritance tax

The family of Samsung Electronics chairman Lee Kun-hee will pay more than 12trn won in inheritance taxes on his estate. Mr Lee, who is credited with transforming Samsung into a global electronics giant, died in October last year. The tax issue has been closely watched by investors as it could have affected the Lee family's stake in Samsung. Investors will instead need to wait for regulatory filings to discover changes in shareholdings by Lee's son and Samsung Electronics vice chairman Jay Y. Lee, who has been the de facto head of Samsung Electronics since 2014. Mr Lee's family "Expects to pay more than 12trn won in taxes related to inheritance, which is more than half of the value of the late chairman's total estate," it said.

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