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Heirs of the president of Samsung will pay 10 billion in inheritance tax

The heirs of the recently deceased president of the Samsung group, Lee Kun-hee, reported this Wednesday (04/28/2021) that they will pay more than 12 trillion won (more than 10.79 billion dollars) in inheritance taxes, a record in South Korea. , to access your fortune. “It is our civic duty and our responsibility to pay all taxes,” the Lee family said in a statement.

“The family plans to pay the full amount of the inheritance tax over a period of five years in six installments, beginning in April 2021,” the heirs explain in the statement, issued by the Samsung group. The group assures that the amount to be paid to the South Korean treasury “is more than half the value of the total assets of the late president.”

The inheritance of Lee Kun-hee, the richest man in South Korea who died in October, will be shared by his widow, Hong Ra-hee, his two daughters, Lee Boo-jin and Lee Seo-hyun, and his son Lee Jae- yong, de facto leader of the conglomerate since in 2014 his father suffered a heart attack that incapacitated him until the day of his death. It is believed that Lee’s assets exceed 20 trillion won (about 17.985 million dollars), and that 80% would correspond to shares whose distribution among the heirs is not explained in the note sent by Samsung.

Samsung owner Lee Kun-hee dies

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FOLLOWING

The late president owned 4.18% of the group’s star company, Samsung Electronics, 20.76% in the insurance company Samsung Life, 2.88% in the group’s parent company, Samsung C&T, and 0.01% at the Samsung SDS battery manufacturer. Experts believe that the distribution will be made to strengthen the leadership of Lee Jae-yong – who already controls 17.33% of Samsung C & T – over the group.

Lee Jae-yong is currently in prison after courts ruled that he bribed the former South Korean government in exchange for favors, including getting the go-ahead for a controversial 2015 merger of Samsung C&T and Cheil, another company in the group. that cemented his leadership.

In turn, the heirs also announced that they will donate 1 trillion won (about $ 900 million) to build a hospital and research laboratory for infectious diseases and a program to pay for treatments for children with cancer and rare diseases. They will also donate 23,000 pieces of art collected by Lee Keun-hee to two national museums in Seoul, including pieces by Pablo Picasso, Paul Gauguin, Claude Monet, Joan Miró or Salvador Dalí.

lgc (efe / ap)

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