Samsung chairman Lee Kun-hee’s $21 billion wealth could attract record-high inheritance taxes

Samsung chairman Lee Kun-hee passed away yesterday at the age of 78, leaving behind KRW 23 trillion (around $21 billion) in wealth. Lee Kun-hee is survived by his wife Hong Ra-hee, his only son Lee Jae-yong, and two daughters: Lee Boo-jin and Lee Seo-hyun.

He was the richest person in South Korea, and his personal wealth would now be distributed among his family. As per South Korean laws, the family members would have to pay record-high inheritance taxes of over KRW 10 trillion.

The senior Lee had stakes in four listed Samsung companies, and they are reportedly worth KRW 18 trillion (around $15.9 billion). He owned a 4.18% stock ownership in Samsung Electronics (and preferred shares of 0.08%), 29.76% shares in Samsung Life Insurance, 2.88% shares in Samsung C&T, and 0.01% shares in Samsung SDS.

Lee Kun-hee’s two known homes in central Seoul are the priciest individual homes in the country. They have areas of 1,245.1 sq. meters and 3,422.9 square metres, and they are valued at KRW 40.9 billion (around $36 million) and KRW 34.2 billion (around $30.2 million), respectively.

Industry sources believe that Lee Kun-hee’s heirs would pay around KRW 10.6 trillion (around $9.3 billion) in inheritance taxes for the stocks. However, they might choose to pay the taxes over several years as the South Korean law allows payment of inheritance taxes in instalments over the course of five years.

Hong Ra-hee holds a 0.91% stake in Samsung Electronics, while Lee Jae-Yong, who will be the next chairman, holds a 0.7% stake in the tech giant. The junior Lee also has a 17.33% stake in Samsung C&T and more stakes in other Samsung Group firms.

The post Samsung chairman Lee Kun-hee’s $21 billion wealth could attract record-high inheritance taxes appeared first on SamMobile.

from SamMobile https://ift.tt/35yeIWP
via IFTTT

Samsung chairman Lee Kun-hee, who made it a global icon, dies

Samsung today announced that its chairman Lee Kun-hee passed away at the age of 78. He was instrumental in making the company the global icon that it is today. Lee Kun-hee had a vision for Samsung that was executed brilliantly over two decades to elevate the company to the status that it enjoys today.

The company confirmed in a statement that he passed away on October 25 with family, including Samsung vice chairman Lee Jae-yong, at his side. A cause of death was not provided in the company’s statement.

His son Lee Jae-yong may succeed him as Samsung’s chairman

Lee Kun-hee’s son Lee Jae-yong, the vice chairman is now poised to succeed his father as chairman. He has been the de facto head of the conglomerate for some time now. Lee Kun-hee had been out of the public eye since he suffered a heart attack in 2014 which left him incapacitated. It has since been widely reported that Lee Jae-yong would eventually take over as chairman.

However, with Lee Jae-yong facing legal troubles of his own, there’s bound to be speculation over his succession now. He’s currently facing trial on charges of accounting fraud and manipulation, actions which allegedly enabled the family to cement its control over the empire.

That being said, the Samsung Group and indeed many in South Korea will mourn the loss of a visionary businessman who created an industrial icon in its own right.

The post Samsung chairman Lee Kun-hee, who made it a global icon, dies appeared first on SamMobile.

from SamMobile https://ift.tt/3mmOVaK
via IFTTT

The Galaxy Z Fold 2’s foldable screen is so, so good for typing

Recently, I received the Galaxy Z Fold 2 from Samsung India for a few days of testing. I never used the Galaxy Fold, so this is the first time I’m using Samsung’s top-of-the-line foldable. Since I haven’t had it for long, I haven’t really formed a proper opinion on it. However, right from day one, there’s one thing that I love about the Z Fold 2, and that’s typing on the main screen.

Writing with a keyboard is my bread and butter, and thanks to all the years of doing so, my typing skills are quite good. I don’t use autocorrect on my phone’s keyboard, and a lot of the time, I can type without looking at the keys directly, which is not something everyone can do on a virtual keyboard. Still, no matter how big your phone’s screen may be, typing on a virtual keyboard is never as good as doing it on a real keyboard. Tablets, meanwhile, are usually so big and heavy that despite the increased screen estate, typing on them isn’t very convenient, either.

But the Galaxy Z Fold 2 has challenged my notions in these few days that I’ve been using it as my daily driver. In fact, believe it or not, my favorite thing about the Z Fold 2 till now is how good the 7.6-inch inner screen is for typing. The foldable display is large but not too large, and with both Samsung Keyboard and Google’s Gboard, the keys are spaced just right and enable me to type quickly and without errors. And, in my opinion, anyone who spends the day shooting emails and sending messages on WhatsApp and other messaging apps will have a similar experience should they get themselves a Z Fold 2.

Naturally, fast-paced key presses without making plenty of mistakes is not very easy on the outer screen because of its narrow design. I haven’t found it to be as much of an issue as I had expected, but not everyone will like it. And you can’t ignore the cover display, either, as the foldable display is too big for one handed use. Still, when you can use both hands, the foldable display is great for typing, and that may end up being a major factor in helping me decide if i should empty my pockets and get a Z Fold 2 for myself, warts and all.

Are you using a Galaxy Z Fold 2 or a Galaxy Fold? How do you find the typing experience on the foldable screen?

The post The Galaxy Z Fold 2’s foldable screen is so, so good for typing appeared first on SamMobile.

from SamMobile https://ift.tt/3opnteh
via IFTTT