The family of late Samsung Electronics Co Ltd Chairman Lee Kun-hee said on Wednesday they will pay over 12 trillion won ($10.8 billion) in inheritance tax for his estate and donate his vast private art collection to state curators.
Lee, who is credited with transforming Samsung into the world s largest smartphone and memory chip maker, died on Oct.
25 with an estate local media valued at around 26 trillion won.
The inheritance tax bill - one of the largest-ever in South Korea and globally - has been closely watched due to its potential to dilute the family s controlling stake in Samsung.
The family said it planned to pay the bill over five years in six instalments, starting this month.
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