Samsung’s founding family will donate tens of thousands of rare artworks, including Picassos and Dalis, and give hundreds of millions of dollars to medical research to help them pay a massive inheritance tax following last year’s death of chairman Lee Kun-Hee.
The Lee family, including his wife and three children, expects to pay more than 12 trillion won (A$14 billion) in taxes related to inheritance, Samsung said.
This would be the largest-ever amount in South Korea and more than three times the country’s total estate tax revenue for last year.
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