@samuelszuchan: Samsung's ruling family just paid the largest inheritance tax in Korean history: 12 trillion won, roughly $9 billion. And they came out more powerful than before. Here’s how: When Chairman Lee Kun-hee died, he left an estate worth roughly 26 trillion won, about $19 billion. The tax bill came to about 12 trillion won, or $9 billion, roughly 50% more than the 8.2 trillion won, about $6 billion, that the entire nation collected in estate tax in 2024. The family filed in April 2021 and spread it across six annual installments. In May 2026, the final payment cleared. Now here's where it gets interesting. The widow and two daughters raised their share by selling shares in block trades across five years. But Lee Jae-yong, the only son and now chairman, sold nothing. Not one core share. He covered his roughly 2.9 trillion won portion, about $2 billion, out of dividends and personal bank loans. As the women sold and the company retired treasury stock through buybacks, every remaining holder's percentage crept up. And Lee Jae-yong was the holder who never trimmed. His Samsung Electronics stake went from 0.7% to 1.67%, making him the single largest individual shareholder. His Samsung C&T stake went from 17.48% to 22.01%. His Samsung Life stake jumped from 0.06% to 10.44%. So while paying the biggest tax bill in the nation's history, he actually consolidated his grip on the entire Samsung empire. Korean business outlet Sisa Journal E confirmed it: the household cleared a 12 trillion-won obligation without denting Lee Jae-yong's control. Think about what taxes are supposed to do. You give up some of your wealth, some of your control, for the public good. But Samsung's family paid the biggest inheritance tax in the country's history, and came out with more control of the empire than before. There's a Korean proverb that says wealth doesn't last three generations. Lee Jae-yong is the third generation. And the dynasty is tighter in his hands than it was the day his father passed away.

Sam Szuchan

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Monday 10 August 2026 19:00:00 GMT