Chairman Lee Kun-hee's Inheritance Tax Amount Confirmed Today... Stock Portion Expected to Reach 11 Trillion Won

Chairman Lee Kun-hee

[Asia Economy Reporter Changhwan Lee] The inheritance tax on the stock assets that the heirs of the late Samsung Chairman Lee Kun-hee, who passed away last October, are required to pay is expected to be finalized at around 11 trillion won based on the closing price on the 22nd.

According to industry sources on the 22nd, the valuation of Chairman Lee's stock inheritance will be calculated as the average of the closing prices two months before and two months after the stock valuation reference date.

If the inheritance commencement date (date of death) falls on a holiday, the last trading day prior to that will be the valuation reference date for listed stocks. Since Chairman Lee passed away on Sunday, October 25, the valuation reference date for listed stocks is October 23, and the inheritance value is calculated as the average closing price from August 24 to December 22.

The average closing prices from August 24 to the 21st of this month are Samsung Electronics 62,273 won, Samsung Electronics (Preferred) 55,541 won, Samsung SDS 172,994 won, Samsung C&T 114,463 won, and Samsung Life Insurance 66,109 won.

Reflecting Chairman Lee's shareholding ratios disclosed at the end of June (Samsung Electronics 4.18%, Samsung C&T 17.33%, Samsung Life Insurance 0.06%, Samsung SDS 9.2%, Samsung Fire & Marine Insurance 0.09%), the total stock inheritance value amounts to 18.9 trillion won.

If the stock price does not plunge on the 22nd, the stock inheritance tax will slightly exceed 11 trillion won after sequentially applying the major shareholder premium rate of 20%, the highest tax rate of 50%, and the voluntary reporting deduction rate of 3% to the share value.

Besides stocks, the inheritance portion of real estate such as the Everland land in Yongin and the Hannam-dong residence is also significant. Chairman Lee and Cheil Industries each own half of the 13.22 million square meters of Everland land, with Cheil Industries' share previously valued at up to 3.2 trillion won.

Before the merger of Cheil Industries and Samsung C&T, the National Pension Service valued the Yongin land held by Cheil Industries at 3.2 trillion won, while other domestic accounting firms assessed it between 900 billion and 1.8 trillion won.

Depending on how the value of this land is assessed, the total inheritance tax could exceed 12 trillion won, as 50% of the real estate inheritance value must be paid as inheritance tax.

This content was produced with the assistance of AI translation services.