Samsung family pays record $8 billion inheritance tax after saying it’s their “duty”

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The family that controls Samsung has paid a record 12 trillion won – about $8 billion – in inheritance taxes, covering nearly half of the wealth transferred to them.

As a long-time Samsung follower, I understand the Lee family, who run the company, made some payments after Lee Kun-hee, their former chairman, passed away in 2020. It’s a bit of a sensitive topic, but that’s the gist of what happened.

The tax payment concerned the estate of Lee Kun-hee, worth approximately 26 trillion won. This estate included stocks, real estate, and a significant art collection. South Korea has one of the highest inheritance tax rates globally, potentially reaching 50%.

When the payments started, the family stated that paying taxes is simply a normal responsibility of being a citizen, according to the BBC.

Record-breaking tax paid by Samsung family

Samsung is South Korea’s biggest family-owned conglomerate. The company has paid an amount equal to roughly 1.5 times the total inheritance tax collected by the country in 2024.

Lee Jae-yong, the current head of Samsung, made the payments with his mother, Hong Ra-hee, and his sisters, Lee Boo-jin and Lee Seo-hyun. The family is still one of the richest in Asia, with their combined wealth totaling over $45 billion.

Samsung’s value has increased significantly lately, largely because of strong demand for semiconductor chips, which has also led to a rise in its stock price.

I was reading that some of Lee Kun-hee’s incredible art collection – stuff by legends like Picasso and Dali – is being donated to museums and cultural spots all over South Korea. It’s awesome that everyone gets to enjoy these masterpieces now!

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2026-05-04 15:48