ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Companies

Samsung's Lee family faces inheritance tax likely topping $10bn

Control of tech empire tied to jailed son's share, and how he pays levy

Samsung Vice Chairman Lee Jae-yong, left, with his father, Lee Kun-hee: The father, who died in October, left a massive fortune that could bring more than $10 billion in inheritance tax.

SEOUL -- When Samsung Electronics Chairman Lee Kun-hee died in October at age 78 after a long hospitalization, the wealth he left behind was of little concern to his bereaved wife and children as they publicly grieved his loss.

Dressed in mourning clothes, the remaining members of South Korea's richest business family greeted well-wishers paying respects to the man credited with turning Samsung -- once known for cheap household appliances -- into a global tech powerhouse.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more