Anchor: The family of late Samsung Group Chairman Lee Kun-hee will pay more than 12 trillion won in inheritance tax and donate some one trillion won to combat infectious and rare diseases as well as childhood cancer. The heirs to South Korea's richest man will also donate his extensive art collection to national museums.
Our Bae Joo-yon has the details.
Report: Late Samsung Group Chairman Lee Kun-hee’s family said Wednesday that they will pay more than 12 trillion won in inheritance tax in accordance with related laws. That’s almost half of Lee’s legacy, which is estimated at 26 trillion won, including stocks, real estate and art.
The amount of inheritance tax that is to be paid is one of the largest ever in the world and around three times the total amount of inheritance tax paid in the nation last year.
The family plans to pay the tax in six installments over the next five years.
The Samsung family also unveiled plans to donate 700 billion won toward establishing infrastructure to respond to infectious diseases, including building the nation’s first specialized hospital for such illnesses.
The family will also provide 300 billion won to help children with cancer and rare diseases.
The family will donate most of Lee's art collection, including the Joseon-era landscape painting "Inwang Jesaekdo," a water lilies painting by Claude Monet, as well as works by Joan Miro and Salvador Dali.
Around 21-thousand-600 pieces, including 14 national treasures, will be donated to the National Museum of Korea while some 16-hundred will be donated to the National Museum of Modern and Contemporary Art and museums established in honor of some of the artists.
However, the family stopped short of disclosing details on who inherited how much. Lee is survived by his wife, two daughters and son, Jae-yong, Samsung Electronics vice chairman and the de-facto leader of Samsung Group.
Bae Joo-yon, KBS World Radio News.