LG Group Chairman Koo Kwang-mo has filed a lawsuit with tax authorities on the grounds that ＂some of the inheritance taxes are excessive.＂

LG Group Chairman Koo Kwang-mo has filed a lawsuit with tax authorities on the grounds that "some of the inheritance taxes are excessive.": COMPANY / Reporter Kim Jisun / 2023-04-16 17:44:21

This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology

구광모 LG 회장 (사진=LG)

[Alpha Biz=(Chicago) Reporter Kim Jisun] LG Group Chairman Koo Kwang-mo is said to have filed a lawsuit with the taxation authorities to the effect that "some of the inheritance taxes are excessive."

According to the business community on the 16th, Koo filed a lawsuit with the Seoul Administrative Court against the head of the Yongsan Tax Office with his mother Kim Young-sik, his two younger sisters Koo Yeon-kyung and Koo Yeon-soo in the second half of last year to cancel the imposition of inheritance tax.

The heirs, including Chairman Koo, have been paying inheritance taxes in installments for five years through the annual payment system since reporting inheritance taxes in November 2018. The inheritance tax that Chairman Koo has to pay is about KRW 720 billion. It will be paid in full at the end of this year.

The assets left by former chairman Koo Bon-moo totaled KRW 2 trillion, including 11.28% of LG shares.