Korea Joongang Daily
Korea JoongAng Daily

Widow of late Samsung chief sells $2.1 billion in shares to settle inheritance taxes

Hong Ra-hee, the widow of late Samsung Group Chairman Lee Kun-hee, has sold a stake in Samsung Electronics worth nearly 3.1 trillion won ($2.1 billion) to settle inheritance taxes on assets left by the late tycoon, industry sources said Thursday.

2026-04-09

LG Group Chairman Koo Kwang-mo wins family inheritance battle against his mother and sisters

LG Group Chairman Koo Kwang-mo won a court battle on Thursday against his mother and sisters over the inheritance of assets left by his late father, former LG Chairman Koo Bon-moo.

2026-02-12

KCCI pledges verification overhaul in wake of controversy over report about wealthy Koreans leaving

The Korea Chamber of Commerce and Industry (KCCI) apologized and pledged a sweeping overhaul of its verification system after President Lee Jae Myung denounced its report on wealthy Koreans leaving the country as “fake news.”

2026-02-09

As rich Koreans flee the country, KCCI urges inheritance tax reform to make them stay

As more wealthy Koreans leave the country in search of tax havens, experts urge legislative reform to keep them in Korea.

2026-02-03

Lee signals no change in capital gains tax, raises inheritance tax deduction cap

President Lee signaled in a press conference Thursday that he will maintain the threshold for major stockholders subject to paying capital gains tax at the current 5 billion won ($3.6 million), rather than lowering it to the proposed 1 billion won.

2025-09-11

Brothers stand trial for allegedly killing mother for 'only' receiving Seocho buildings

Two brothers are on trial for allegedly killing their mother after discovering she had gifted more of her fortune to their youngest sibling, with the pair demanding a redistribution after receiving buildings in Seocho worth around 10 billion won.

2025-09-04

DP signals shift toward PPP's position on abolishing death duties for surviving spouses

Liberal Democratic Party (DP) leader Lee Jae-myung signaled agreement on Friday to a proposal by the conservative People Power Party (PPP) to abolish death duties for surviving spouses.

2025-03-07

PPP leader vows to abolish inheritance taxes for surviving spouses

Conservative People Power Party (PPP) interim leader Kwon Young-se said Thursday that his party will “abolish” inheritance tax for the transfer of assets from a deceased individual to their surviving spouse.

2025-03-06

Government to detail inheritance tax changes in March

Acting President Choi Sang-mok on Tuesday reiterated the need to revise Korea's decades-old inheritance tax system, stressing that taxation policies should be “reasonable” to reflect the evolving economic landscape.

2025-03-04

[NEWS ANALYSIS] Rival parties tussle over inheritance tax reform as possible election looms

Partisan mudslinging over inheritance tax reform is heating up as the country's main parties jockey to position themselves as proponents of lower death duties.

2025-03-02