Samsung heirs pay 1st installment of inheritance taxes
Posted : 2021-04-30 16:40
Updated : 2021-04-30 16:40
In this graphic image are late Samsung Group chief Lee Kun-hee, top, and one of his heirs, his son Jae-yong. Korea Times file
Heirs of late Samsung Group chief Lee Kun-hee on Friday paid their first installment of record inheritance taxes after reporting to the authorities.
They announced Wednesday that they would pay more than 12 trillion won ($10.7 billion) in inheritance taxes, the largest amount in the country's history, in installments. They paid one-sixth of inherited assets upfront and will pay the rest over the next five years.