this post was submitted on 07 Nov 2023
166 points (99.4% liked)

World News

39023 readers
3019 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] autotldr@lemmings.world 9 points 1 year ago

This is the best summary I could come up with:


Heirs of Samsung patriarch billionaire Lee Kun-hee are selling approximately US$2 billion (2.6 trillion won) of company shares, reportedly to help pay off the inheritance tax due after his 2020 death.

According to filings with the country's Financial Supervisory Service (in Korean), Hana bank will dispose of the 0.32 percent share of Samsung Electronics owned by Kun-hee's widow, Hong Ra-hee, and the 0.18 percent share owned collectively by daughters Lee Boo-hin and Lee Seo-hyun, by the end of April next year.

Business Korea suggested that the dividing up could signal a "weakening of control over Samsung."

Other claims to fame of the heir apparent include being indicted for fraud in a company merger, making false filings about the extent of his shareholdings, and a conviction for abusing the anaesthetic Propofol.

The family has been paying the second largest inheritance tax bill in Korea's history, more than 12 trillion won ($10.7 billion), in five years of instalments since April 2021.

South Korea is known for having one of the highest inheritance tax rates in the world.


The original article contains 266 words, the summary contains 175 words. Saved 34%. I'm a bot and I'm open source!