Samsung heirs take out massive loans to pay inheritance tax
Posted : 2021-04-30 16:56
Updated : 2021-04-30 17:58
Late Samsung Electronics Chairman Lee Kun-hee, center, with his family members at the Consumer Electronics show held in Las Vegas in 2010. Courtesy of Samsung Group
By Kim Bo-eun
The widow and children of late Samsung Electronics Chairman Lee Kun-hee took out massive loans to pay the first portion of a 12 trillion won ($10.8 billion) inheritance tax, according to industry sources and media reports, Friday.
The family plans to pay the tax in six installments over the next five years, the first of which is due April 30.