The Samsung family today (28th) unveiled the details of the inheritance of the late Chairman Lee Kun-hee.
The shares of Samsung affiliates held by the late Chairman Lee Kun-hee are 4.18% of Samsung Electronics, 20.76% of Samsung Life, and 2.88% of Samsung C&T, and the stock is worth about 19 trillion won.
The stock inheritance tax for this is about 11 trillion won.
When the inheritance tax on cash equivalents and other securities assets is added, it is the largest ever, with more than 12 trillion won.
The Samsung family said they plan to pay the inheritance tax six times over five years.
We did not disclose how the inheritance ratio was determined between Mrs. Hong Ra-hee, Vice Chairman Lee Jae-yong, Hotel Shilla President Lee Bu-jin, and Lee Seo-hyun, Chairman of the Samsung Welfare Foundation.
All 23,000 artworks owned by Chairman Lee, who have gained great interest through the so-called'Lee Kun-hee Collection', are donated.
More than 21,600 antique works such as Inwangje Saekdo by Gyeomjae Jeongseon will be donated to the National Museum, and 1,600 pieces of modern art such as Lee Jung-seop's bull will be donated to the National Museum of Modern and Contemporary Art.
We also decided to give back some of Chairman Lee's private assets, which is estimated to cost 1 trillion won.
We decided to donate 700 billion won to build infrastructure to overcome Corona 19, and to donate 300 billion won to children patients suffering from childhood cancer or rare diseases.
(Photo = courtesy of Samsung, Yonhap News)