South Korea’s wealthiest family faces more than $10 billion in estate taxes, following the October death of Samsung Chairman Lee Kun-hee. The 12 trillion South Korean won inheritance-tax bill, the equivalent to about $10.8 billion, is the country’s largest ever. “It is our civic duty and responsibility to pay all taxes," the Lee family said in a statement. But business lobbying groups this week have petitioned South Korean President Moon Jae-in to issue a pardon to Lee Jae-yong. Public support in favor of a pardon for Lee Jae-yong, grandson of Samsung’s founder, is strong.

Source: Mint April 28, 2021 14:26 UTC