Business

Samsung heirs to pay USD10.7 bn taxes

Heirs of late Samsung Group chief Lee Kun-hee said on Wednesday they would pay more than 12 trillion won ($10.7 billion) in inheritance taxes, the largest-ever in the country’s history, but did not reveal how they would split inherited stocks among them, a key issue in reshaping the ownership of the nation’s No 1 conglomerate.

migrator

Seoul

They said they will also donate 1 trillion won to support the virus fight and research for rare child diseases, and around 23,000 pieces of the senior Lee’s art collections, estimated to be valued at about 2 trillion won.

The announcement came two days before their deadline to report and pay inheritance taxes to the authorities. Lee was survived by his wife, Hong Ra-hee, only son, Jae-yong, and two daughters.

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