Samsung family will pay off the remaining 54.9 billion in inheritance tax: mother and daughter sell shares to raise funds, Lee Jae-yong relies on loans and dividends

Gelonghui April 7｜According to Red Star News, it is reported that the Samsung family will settle the inheritance tax due this month on the estate of the late former chairman Lee Kun-hee. This marks the official closing of one of the largest inheritance tax cases in Korean history. According to the report, when Lee Kun-hee died in 2020, he left an estate of approximately 260 trillion won (about RMB 1190 billion). The inheritance tax totaled approximately 120 trillion won (about RMB 549 billion), including a large amount of Samsung shares, real estate, and private art collection.

It is reported that when the Samsung family filed the inheritance tax return in 2021, they chose a method to pay the tax in six installments over five years. To raise the funds, family members took different approaches. Hong Ra-hee and her daughters (Lee Boo-jin and Lee Seo-hyun) gradually sold shares in Samsung Electronics and major related companies such as Samsung SDS and Samsung C&T. Earlier this year, Hong Ra-hee also signed an agreement to sell 15 million shares of Samsung Electronics stock, and said the agreement was intended to repay the tax. It is reported that Lee Jae-yong did not sell his shares in Samsung’s major companies, but instead relied on dividends and personal loans to pay the tax.