[Alpha Biz= Kim Jisun] The controlling family of Samsung Electronics is set to complete payment of approximately KRW 12 trillion in inheritance taxes this month, marking the conclusion of one of the largest tax settlements in South Korean history.

According to industry sources on April 5, Lee Jae-yong, along with Hong Ra-hee, Lee Boo-jin, and Lee Seo-hyun, will make the final installment payment of the inheritance tax this month.

The tax liability stems from the estate of the late Lee Kun-hee, who passed away in 2020, leaving assets estimated at approximately KRW 26 trillion, including shares, real estate, and art collections. The total inheritance tax was calculated at around KRW 12 trillion.

The family opted for a deferred payment plan in 2021, allowing the tax to be paid in six installments over five years. Individual tax burdens are estimated at KRW 3.1 trillion for Hong Ra-hee, KRW 2.9 trillion for Lee Jae-yong, KRW 2.6 trillion for Lee Boo-jin, and KRW 2.4 trillion for Lee Seo-hyun.

To secure funds, Hong Ra-hee, Lee Boo-jin, and Lee Seo-hyun partially sold shares in affiliates such as Samsung Electronics, Samsung SDS, and Samsung C&T, and utilized trust arrangements. In January, Hong Ra-hee entered into a trust contract to dispose of 15 million shares of Samsung Electronics.

Lee Jae-yong, by contrast, has largely avoided selling stakes in core affiliates, instead relying on dividends and personal credit loans while maintaining a governance structure centered on Samsung C&T.

Industry estimates suggest that the Samsung family has received approximately KRW 4 trillion in dividends from affiliates since Lee Kun-hee’s passing, with total dividend resources exceeding KRW 6 trillion when including earlier accumulated payouts.

Lee Jae-yong’s ownership stake in Samsung Electronics has increased from 0.70% to 1.67%, while his stake in Samsung C&T rose from 17.48% to 22.01%. His shareholding in Samsung Life Insurance also increased significantly from 0.06% to 10.44%.

In parallel with tax payments, the family has also made large-scale social contributions. In 2021, they donated KRW 1 trillion to healthcare initiatives and contributed approximately 23,000 artworks collected by Lee Kun-hee to the nation.

With the inheritance tax burden largely resolved, industry observers expect the Samsung leadership to accelerate strategic initiatives in semiconductors, artificial intelligence (AI), and biotechnology, as well as potential restructuring of its corporate governance.

Attention is also turning to the possibility of future affiliate separation within the group, with speculation that Lee Boo-jin and Lee Seo-hyun may gradually establish independent management structures over the mid- to long term.

 

 

 

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