Samsung's Lee family considering using shares as collateral for loans to pay $10 billion in inheritance taxes

2021-04-22 17:00:00

Family members of deceased Samsung Electronics ChairmanLee Kun-hee are discussing using stock in affiliated companies as collateral for personal loans to partially pay more than $10 billion inheritance taxes.

The loans are a way the Lee family can pay the tax without selling its massive Samsung holdings. A number of banks are already preparing to secure this business, as the Lee family is the richest in South Korea and is seen as an excellent client.

Source: https://www.reuters.com/markets/asia/samsungs-lee-family-may-use-stock-collateral-loans-10-bln-tax-sources-2021-04-20

Korean company South Korea Samsung

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