According to business industry sources, the Samsung family, including Lee Jae-yong (Jay Y. Lee), his mother Hong Ra-hee, and his sisters Lee Boo-jin and Lee Seo-hyun, finalized the last installment of the inheritance tax payment at the end of last month. The estate included stakes in Samsung Electronics, Samsung Life Insurance, Samsung C&T, and extensive real estate holdings; the family paid the tax in six installments over five years, starting in April 2021.

Record Payment and Public Impact

The 12 trillion won ($12 billion) inheritance tax is the largest in South Korea’s history and is considered a significant contribution to public finances; According to the business community, the funds are expected to be used across various sectors of society, including welfare, healthcare, and infrastructure. The tax payment is roughly 50% larger than South Korea’s total annual inheritance tax revenue in 2024.

Philanthropy and Social Contributions

Beyond taxes, the Samsung family has made substantial philanthropic efforts. They have donated KRW 1 trillion for healthcare initiatives and contributed more than 23,000 artworks to public institutions—collectively known as the “Lee Kun-hee Collection,” valued up to KRW 10 trillion. In 2021. The family also donated KRW 700 billion to the National Medical Center to support the construction of Korea’s first specialized infectious disease hospital, scheduled to open in 2030.

Share Sales and Tax Compliance

According to regulatory filings. The family sold 15 million shares in Samsung Electronics through Shinhan Bank in a deal valued at 2.85 trillion won (US$1.92 billion). The shares were sold based on the company’s closing price of 139,000 won on the day the deal was signed, as this block sale is seen as an effort to pay the 12 trillion won inheritance tax. At the time of the filing, the family stated that “paying taxes is a natural duty of citizens,” pledging to fulfill the obligation in accordance with legal principles.