The family of the late Samsung chairman Lee Kun-hee has paid a total inheritance tax of 12 trillion won [1].
This payment represents the largest inheritance tax settlement in the history of South Korea. The scale of the transaction underscores the immense wealth concentrated within the leadership of the nation's largest conglomerate and the state's ability to collect significant revenue from its wealthiest citizens.
The total amount was settled over five years [1]. The family made the payments across six installments, completing the process by 2024 [1]. This structured approach allowed the heirs to manage the liquidity required for such a massive sum.
Among the heirs who fulfilled this obligation are Lee Jae-yong, the chairman of Samsung Electronics, and Lee Boo-jin, the CEO of Hotel Shilla [1]. Other family members involved include Lee Seo-hyun, the CEO of Samsung C&T, and Hong Ra-hee, the honorary director of Leeum Museum [1].
The family has framed the payment as a civic responsibility. In 2021, the family said that paying the inheritance tax is a "citizen's natural duty" [1].
Beyond the cash payments, the family contributed significant cultural assets to the public. They donated an art collection consisting of approximately 23,000 pieces [1]. The estimated value of this collection is up to 10 trillion won [1].
The scale of these payments had a measurable impact on national revenue. In 2024, the state collected 8.2 trillion won in inheritance taxes [1].
“The family said that paying the inheritance tax is a "citizen's natural duty".”
The completion of these payments resolves a long-standing financial obligation for the Lee family and stabilizes the ownership structure of Samsung's key entities. By combining a record-breaking cash payment with the donation of a massive art collection, the family has attempted to balance their legal tax requirements with a public gesture of philanthropy, potentially mitigating public criticism regarding the concentration of wealth in South Korea.
