SEOUL -- The family of late Samsung Electronics Chairman Lee Kun-hee announced on Wednesday that it will pay inheritance taxes totaling more than 12 trillion won ($10.8 billion), though refrained from saying how his stock holdings will be divided up -- key to its control of the broader conglomerate.
In a statement, the family -- his widow and three children including jailed Samsung Vice Chairman Lee Jae-yong -- said taxes on the estate will be paid in six installments over a five-year period starting this month.
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