Samsung's founding family paid 10.3 trillion won, roughly $8 billion, to settle the inheritance tax bill on the estate of late chairman Lee Kun-hee, who died in October 2020. The payment ranks as one of the largest inheritance tax settlements in South Korean history, reflecting the massive wealth tied to the conglomerate's controlling stake.
Lee Kun-hee led Samsung for decades before his death at age 78. His estate included substantial shareholdings in Samsung Electronics and other group companies, which triggered the enormous tax liability. South Korea imposes steep inheritance taxes, particularly on large fortunes and controlling interests in major corporations.
The family's ability to pay such a sum underscores Samsung's scale and profitability. The settlement allows the family to retain control of the company while meeting the state's tax obligations. The payment was processed through multiple installments over recent months, completing one of South Korea's most closely watched succession cases for a chaebol, the country's term for large family-controlled conglomerates.