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American Media: Samsung Group Family may pay $7 billion in inheritance tax

via:博客园     time:2019/5/22 18:04:47     readed:98

李在镕

Lee Jae-yong

Sina Technologies News, Beijing time, May 22 afternoon news, according to Bloomberg News, South Korea's richest man, Samsung Electronics Chairman Lee Kin-hee has been 77 years old, since a heart attack in 2014, the health situation has been worrying. South Korean media have pointed out that after Lee's death, his heir will bear about $7 billion in inheritance tax, which may complicate Lee's control of Samsung Group.

According to the Bloomberg Billionaires Index, Lee's net worth is about $15 billion, and his heir may have to sell some of his inheritance to pay the inheritance tax. But that would dilute the Lee family's stake in Samsung.

The company has been refuting rumours that the chairman is in stable health and does not use equipment to maintain his life. In addition, his family will pay the tax payable after the chairman's death.

South Korean law imposes a 50 per cent inheritance tax on inheritance exceeding $2.5 million. Among the member countries of the Organisation for Economic Cooperation and Development, South Korea has the second highest inheritance tax rate, after Japan (the United States has an inheritance tax rate of 40 percent, but the threshold is $22 million). The Samsung Empire has 62 companies worth more than $300 billion. Although Lee Kin-hee owns a large number of shares

Critics say the Li family abused its power to maintain their influence. In 2009, Li Jianxi was accused of transferring funds to his children through illegal bond sales. Elliott Management Corp. sued the South Korean government for allowing the merger of Samsung's two subsidiaries. It is said that the merger will increase the control of Samsung Electronics by the Li family. The lower court's decision in the relevant case put Li in prison for one year. Despite Lee's denial of wrongdoing and appeal, the Lee family is still controversial in South Korea.

South Korea's economic take-off in the second half of the 20th century did not benefit the people, but rather enriched the pockets of large family groups, so South Korea introduced an ultra-high inheritance tax to solve the problem. But the Samsung case is not just about money. Ahn Chang-nam, a tax professor at Jiangnan University, said:

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