[Alpha Biz= Kim Jisun] The family of late Lee Kun-hee has fully paid inheritance taxes totaling over KRW 12 trillion, marking the largest such payment in South Korean history.

According to business sources on May 3, heirs including Lee Jae-yong, Hong Ra-hee, Lee Boo-jin, and Lee Seo-hyun completed the tax payments over five years in six installments, following the initial filing in April 2021.

The inheritance, which included stakes in key affiliates such as Samsung Electronics, Samsung Life Insurance, and Samsung C&T, as well as real estate, resulted in a tax bill far exceeding any prior domestic or international cases.

The KRW 12 trillion tax payment is roughly 50% larger than South Korea’s total annual inheritance tax revenue in 2024, highlighting its significant contribution to public finances. Samsung said the funds ultimately benefit the public, supporting areas such as welfare, healthcare, and infrastructure.

Beyond taxes, the family has continued large-scale philanthropic efforts. Donations include KRW 1 trillion for healthcare initiatives and more than 23,000 artworks contributed to public institutions—collectively known as the “Lee Kun-hee Collection,” estimated to be worth up to KRW 10 trillion.

In 2021, the family donated KRW 700 billion to the National Medical Center to support the construction of Korea’s first specialized infectious disease hospital, scheduled to open in 2030. An additional KRW 300 billion was donated to Seoul National University Hospital for pediatric cancer and rare disease treatment and research.

The “Lee Kun-hee Collection” has drawn widespread public interest, with touring exhibitions at institutions such as the National Museum of Korea and National Museum of Modern and Contemporary Art attracting a cumulative 3.5 million visitors between 2021 and 2024.

International exhibitions have also begun, including at the Smithsonian National Museum of Asian Art in Washington, D.C., and the Art Institute of Chicago, with further showcases planned in London.

Business circles have described the family’s tax payments and philanthropic efforts as a notable example of “noblesse oblige,” reflecting both legal obligations and broader social responsibility.

 

 

[ⓒ 알파경제. 무단전재-재배포 금지]