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Samsung Group to minimize changes in governance Posted : 2021-04-29 17:13 Updated : 2021-04-30 09:13 The late Samsung Group Chairman Lee Kun-hee visits the 2010 Consumer Electronics Show in Las Vegas with his family. Courtesy of Samsung Group By Baek Byung-yeul Samsung Group s ownership structure looks to be less affected by the over 12 trillion won in inheritance tax on the late Chairman Lee Kun-hee s fortune as his heirs are seeking to take out bank loans to pay the due taxes. Samsung said the heirs of the late chairman will pay over 12 trillion won ($10.8 billion) in inheritance taxes. The tax amount, which is one of the largest ever imposed worldwide, will be paid in six installments over the next five years, the heirs added. ....
Samsung Group to minimize changes in governance Posted : 2021-04-29 17:13 Updated : 2021-04-30 09:13 The late Samsung Group Chairman Lee Kun-hee visits the 2010 Consumer Electronics Show in Las Vegas with his family. Courtesy of Samsung Group By Baek Byung-yeul Samsung Group s ownership structure looks to be less affected by the over 12 trillion won in inheritance tax on the late Chairman Lee Kun-hee s fortune as his heirs are seeking to take out bank loans to pay the due taxes. Samsung said the heirs of the late chairman will pay over 12 trillion won ($10.8 billion) in inheritance taxes. The tax amount, which is one of the largest ever imposed worldwide, will be paid in six installments over the next five years, the heirs added. ....
By Baek Byung-yeul Samsung Group announced Wednesday that the heirs of the late Chairman Lee Kun-hee will pay over 12 trillion won ($10.8 billion) in inheritance tax over the next five years, but did not detail the allocation of his shares in the group affiliates ― including the crown jewel, Samsung Electronics ― to his children. Given the shares allocation could directly affect the conglomerate s organizational structure, the issue has been of primary concern, and questions are being asked as to why Samsung deferred an announcement on how the late chairman s shareholdings will be divided. Samsung Group has retained a web-like governance structure linking Samsung C&T, Samsung Life Insurance and Samsung Electronics. The late chairman owned 4.18 percent of the shares of Samsung Electronics, 20.76 percent of Samsung Life Insurance, 2.88 percent of Samsung C&T and 0.01 percent of Samsung SDS. ....
By Kim Bo-eun Market expectations have been rising over the future growth trajectory of LG Corp. as the holding company prepares for a split. The decision to separate LG affiliates by setting up a new holding entity under the leadership of LG Chairman Koo Kwang-mo s uncle Koo Bon-joon was unveiled last November. The new holding group, set to be named LX, will have under its arm: trading affiliate LG International, materials manufacturer LG Hausys, fabless chipmaker Siliconworks, chemical manufacturer MMA and logistics unit Pantos. LG said the decision to reorganize its corporate governance structure was made to strengthen its global competitiveness by beefing up the expertise of its respective businesses. ....