The heirs to South Korea’s massive Samsung conglomerate face an inheritance tax bill of £7.8 billion, despite giving away a £1.3 billion art collection and donating half as much again to the treatment of child cancer and infectious diseases.
The tax bill, the biggest in South Korea and one of the biggest in the world, was announced by Samsung today, following the death last October of its chairman, Lee Kun-hee, at the age of 78. The public announcement of the more than 12 trillion won (£7.76 billion) bill, and the charitable gifts made to reduce it, are intended to quell public anger over a corruption scandal that has sent its current boss, Lee’s son, to prison.
Marc Chagall's Bride and Groom with Bouquet
“It is our civic duty and responsibility to pay
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