No Lee-way: Samsung family to cough up more than R155bn inheritance tax
Analysts say the family will use loans and dividends from both their own and Lee Kun-hee’s shares to pay
The family of late Samsung Electronics Co Ltd chair Lee Kun-hee said on Wednesday they will pay more than 12 trillion won (R155bn) in inheritance tax for his estate and donate his vast private art collection to state curators.
Lee, who is credited with transforming Samsung into the world’s largest smartphone and memory chip maker, died on October 25, with an estate local media valued at about 26 trillion won (R335bn).
The inheritance tax bill — one of the largest-ever in South Korea and globally — has been closely watched due to its potential to dilute the family’s controlling stake in Samsung...