SEOUL, April 29 (UPI) -- Heirs of the late Samsung Chairman Lee Kun-hee will pay $11 billion in inheritance taxes, Samsung Electronics said.
On behalf of the Samsung family, the company disclosed Wednesday the inheritance process, which includes the donation of $900 million to domestic hospitals and some 23,000 pieces of art to museums.
Samsung heirs, including the imprisoned Samsung Electronics Vice Chairman Lee Jae-yong, will pay $1.8 billion this month, while the remaining $9.2 billion will be paid in installments over the next five years.
The company did not disclose how the four heirs -- Lee Jae-yong, his two sisters, and his mother -- would divide the assets, which are mostly composed of shares from Samsung conglomerate affiliates.
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