Samsung family completes record $8bn inheritance tax payment
Updated
Updated · BBC.com · May 4
Samsung family completes record $8bn inheritance tax payment
8 articles · Updated · BBC.com · May 4
Samsung said the final instalment was paid on Sunday, ending six payments over five years by Lee Jae-yong, Hong Ra-hee, Lee Boo-jin and Lee Seo-hyun.
The 12 trillion won bill, South Korea's largest inheritance tax settlement, stemmed from late chairman Lee Kun-hee's 2020 death and covered part of his 26 trillion won estate.
Samsung said the sum equals about one and a half times South Korea's 2024 inheritance tax revenue. The Lee family's wealth has risen with Samsung Electronics' AI-driven chip boom.
With AI profits covering an $8B tax, is South Korea's inheritance law a success story or a threat to its economic future?
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