Seoul, April 5 – The Lee family, owners of the Samsung Group, are set to complete the payment of approximately 12 trillion won (approximately $8 billion) in inheritance taxes on assets left by the late Chairman Lee Kun-hee later this month, industry sources said on Sunday.
These payments, scheduled over five years since 2021, mark the end of one of the largest inheritance tax obligations in South Korean history and are expected to ease financial pressures on the family, potentially accelerating Chairman Lee Jae-yong's push for a "New Samsung" growth strategy.
Lee Jae-yong, the late chairman's only son, along with other heirs, has financed the tax burden through a combination of share sales in group affiliates, dividend income, and other funding measures, according to the sources, reports Yonhap news agency.
Other heirs include his mother, Hong Ra-hee, honorary director of the Leeum Museum of Art, and his sisters, Lee Boo-jin, chief executive of Hotel Shilla, and Lee Seo-hyun, president of Samsung C&T.
Since Lee Kun-hee's death in 2020, the family has received approximately 4 trillion won in dividends from Samsung affiliates. When previously accumulated dividends are taken into account, more than 6 trillion won is estimated to have been used to fund the tax payments.
Rising share prices of key affiliates, including Samsung Electronics, have also helped ease the financial burden associated with securing funds.
Lee Kun-hee left an estate valued at around 26 trillion won, comprising stocks, real estate, and art collections. The resulting inheritance tax bill, estimated at about 12 trillion won, ranks among the largest ever imposed in the country.
Analysts said the completion of the payments could mark a turning point for the group, enabling it to move beyond financial and governance constraints tied to the inheritance process.
Samsung, which has focused on resolving both the tax burden and corporate governance restructuring, is expected to accelerate investments and business reorganization in future growth areas, such as semiconductors, artificial intelligence, and biotechnology.
The outlook is further supported by solid earnings in the semiconductor division and a reduction in legal uncertainties surrounding Lee Jae-yong over the past year.
"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.
It remains to be seen whether Lee will unveil a detailed road map for the "New Samsung" initiative, he added.
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