The Inheritance tax has become a major factor behind the Korea Discount.
Not even a single bidder took part in the failed second attempt to sell the government's nearly 30 percent stake in gaming giant Nexon.
The Finance Ministry said Monday it will sell its stake in NXC, a holding company known for its video game subsidiary Nexon, valued at an estimated 4.7 trillion won ($3.62 billion).
Since the death of the late Samsung Chairman Lee Kun-hee in October 2020, the family has been paying inheritance taxes in installments for the assets inherited according to a five-year plan. The total inheritance tax amounted to 12 trillion won.
The largest individual shareholder of Samsung Electronics is unloading some of her stock as she faces a huge inheritance tax bill. More of the shares could hit the market in the coming days as the family looks to raise cash to cover the huge ...
Korean executives from some of Korea’s largest companies and the chair of the most powerful lobbying group in the country are asking the tax authorities to offer longer payment plans for settling inheritance tax bills.
The family of the late Samsung chairman Lee Kunhee may announce next week how they plan to pay their enormous inheritance tax bill of at least 11 trillion won ($9.9 billion). A source familiar with the matter confirmed Tuesday that the family..
Second-generation owners raised concerns they might have to give up their company entirely if they fail to meet the government’s requirements to receive tax benefits and will have to pay up to 50 percent of inherited assets as taxes.
Korea JoongAng Daily Sitemap