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A staggering inheritance tax bill has been fully settled by the family behind Samsung, closing one of the most closely watched financial sagas in South Korea’s corporate history and underscoring the enormous wealth tied to the global tech powerhouse.

The 12 trillion won (about £6 billion, $8 billion) payment is the largest inheritance tax settlement ever recorded in the country, marking a decisive end to a five-year payment process that drew intense scrutiny from investors, regulators, and the public.

Historic Tax Bill Paid in Full

Samsung confirmed on Sunday that the final installment had been completed, officially closing the massive tax obligation tied to the estate of late chairman Lee Kun-hee, who died in October 2020.

Chairman Lee Jae-yong and other family members, including his mother Hong Ra-hee and sisters Lee Boo-jin and Lee Seo-hyun, paid the tax in six installments over the past five years.

The company noted that the total sum is equivalent to roughly one and a half times South Korea’s total inheritance tax revenue for 2024.

At 50 percent, South Korea’s inheritance tax rate is among the highest in the world, placing extraordinary financial pressure on major estates like that of the Samsung family.

A Fortune Built on a Corporate Empire

Lee Kun-hee left behind an estimated 26 trillion won fortune, including shares, real estate, and valuable art collections.

Samsung is South Korea’s largest chaebol, or family-controlled conglomerate, with business operations spanning electronics, heavy industry, construction, and financial services.

The company also plays a dominant role in global markets through Samsung Electronics, one of the world’s largest producers of semiconductors, smartphones, and televisions.

Founded in 1938 by Lee Byung-chul, the grandfather of current chairman Lee Jae-yong, Samsung has grown into one of the most influential corporate groups in the world.

"Paying taxes is a natural duty of citizens"

At the time the inheritance process began, the family said that "paying taxes is a natural duty of citizens".

That statement came under heightened public attention as the scale of the estate and resulting tax burden became clear.

Global Attention on Control and Power

The handling of the inheritance tax bill was closely monitored by investors, as it had the potential to affect the Lee family’s long-term control over Samsung’s vast corporate structure.

Concerns centered on whether asset sales or restructuring would be needed to meet the obligation, potentially reshaping ownership influence within the conglomerate.

Despite those concerns, the family maintained its position at the center of Samsung’s leadership and governance.

Art, Legacy, and Cultural Donations

Part of Lee Kun-hee’s estate, including a renowned collection of artworks by Pablo Picasso and Salvador Dali, was donated to the National Museum of Korea and other cultural institutions.

The move was widely seen as both a cultural contribution and a way of managing the inheritance distribution.

A Fortune That Continues to Grow

The Lee family’s combined net worth now exceeds $45 billion, according to the Bloomberg Billionaires Index.

Their wealth has more than doubled over the past year, driven by surging demand for computer chips fueled by the global artificial intelligence boom, which has significantly boosted Samsung Electronics’ market value.

As the AI industry expands, Samsung’s semiconductor division has become a key beneficiary, reinforcing the company’s central role in the global technology supply chain.

From chips to smartphones to consumer electronics, Samsung continues to dominate multiple sectors, securing its position as one of the most powerful industrial groups in the world.