The heirs, widow Hong Ra-hee and children Lee Jae-yong, Lee Boo-jin and Lee Seo-hyun, will pay the sixth and final installment this month, according to the payment plan set forth in 2021 after the chairman’s death in 2020, the Korea Times reported.
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Samsung Electronics Chairman Lee Jae-yong leaves a court in Seoul, South Korea, Fe. 3, 2025. Photo by Reuters |
According to the Korea Herald, Lee Kun-hee left behind an estate worth about 26 trillion won, including stocks, real estate and art collections.
Hong is responsible for the largest share of the tax at around 3.1 trillion won, followed by the children at 2.9 trillion won, 2.6 trillion won and 2.4 trillion won.
Hong and her daughters reportedly sold shares in key affiliates such as Samsung Electronics, Samsung SDS and Samsung C&T to pay off their taxes.
Hong also signed a trust agreement earlier this year to sell 15 million Samsung Electronics, allegedly to pay her part of the tax.
Samsung Electronics Chairman Lee Jae-yong, on the other hand, financed the payments through dividends and personal loans, in what is seen as an effort to preserve his control over the group’s ownership structure, which is centered around Samsung C&T.
Over five years, the family is estimated to have received about 4 trillion won in dividends from affiliates after Lee Kun-hee’s death, and more than 6 trillion won including earlier dividends.
With the tax nearly paid off, the group is expected to increase investment in semiconductors, artificial intelligence and biopharmaceuticals.
“This year is particularly meaningful as the completion of inheritance tax payments coincides with the resolution of legal risks and improving earnings at Samsung Electronics,” said Park Ju-gun, chief executive of corporate tracker Leaders Index.
