Material photo” alt=”Lee Jae-yong, Vice Chairman of Samsung Electronics. <한겨레> Material photo” />
Jaeyong Lee, Vice Chairman of Samsung Electronics. Base photo
It was announced on the 20th that the heirs of Samsung Electronics Vice Chairman Lee Jae-yong and the late Samsung Chairman Lee Kun-hee will officially announce the details and procedures next week. The deadline for filing and payment of inheritance tax is the 30th, which is the last day of the month when the six months passed away. Chairman Lee passed away on October 25 last year. A Samsung official said on the day, “The inheritance tax issue is, in principle, a family issue, not a company-related issue, and has not yet received any intentions from the bereaved family.” Said. However, he indicated that it will be announced next week, when the deadline for the previous year is met, saying, “I know there is no scheduled announcement for this week. The largest share of the inheritance tax owed by the survivors is the stock-related tax, reaching 11,366 billion won. Including artworks, real estate, and cash, the tax payment is estimated to reach 12 to 13 trillion won by business and securities firms. In the case of 13,000 pieces of art, which are known to have an appraised value of 2 to 3 trillion won, if it is decided to donate, it is not subject to inheritance tax. It is an issue that is on the verge of touch in the art world. It is also a concern whether some of the assets are returned to society. After the Samsung Special Prosecutor’s Office investigated the slush fund in 2008, Chairman Lee Kun-hee said, “I will use the remaining money after paying fines and missing taxes among the under-named assets that have been converted to real names.” Discussion on this was halted in 2014 when Chairman Lee collapsed due to an acute myocardial infarction. The related amount is known to be around 1 trillion won. The biggest concern in the business world is the stock allocation plan. Chairman Lee Kun-hee owns 4.18% of Samsung Electronics, 0.08% of Samsung Electronics’ preferred stock, 20.76% of Samsung Life Insurance, 2.88% of Samsung C&T, and 0.01% of Samsung SDS (SDS). Samsung’s governance structure is based on the investment structure of vice chairman Lee Jae-yong → Samsung C&T → Samsung Life Insurance → Samsung Electronics. Vice-Chairman Lee is the largest shareholder with 17.33% of Samsung C&T’s shares. The holdings of Samsung Life Insurance (0.06%) and Samsung Electronics (0.7%) are small. If inherited at the legal rate, the share of his wife, Mrs. Hong Ra-hee, is the largest at a third (33.33%). In the business world, it is predicted that it will be arranged to increase the dominance of Vice Chairman Lee, rather than a court plan. Senior Reporter Kim Young-bae [email protected]