South Korea’s powerful Lee family faces a battle to maintain control of Samsung Group, the country’s biggest conglomerate, following the death of patriarch and group Chairman Lee Kun-hee. MONEY TO PAY THE TAXThe Lee family can sell their stocks in information service provider Samsung SDS and other non-core affiliates to pay the tax. The shortfall may have to be covered with loans or partial sales of stakes they hold or will inherit in Samsung Life Insurance and Samsung Electronics. Such stake sales could weaken the family’s direct control of Samsung Electronics. To ensure the Lee family keeps control, Samsung Life may try to sell its stake to Samsung C&T, which would in turn unload stakes in other units to come up with the funds.

Source: Standard Digital October 27, 2020 07:41 UTC