Lee Kun-hee

The heirs to South Korea's Samsung group announced their plans to pay more than $10 billion in death duties Wednesday -- one of the world's biggest ever inheritance tax settlements -- including donating Picasso and Monet artworks.

The family of deceased Samsung Electronics chairman Lee Kun-hee said on Wednesday it will pay more than 12 trillion won ($10.78 billion) in inheritance taxes for the estate of the late patriarch.

When Lee Kun-hee was assembling one of the world's biggest privately owned art collections, little did he know that it would become embroiled in his family's tax woes.

Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said. Under Lee's leadership, Samsung rose to become the world's largest producer of smartphones and memory chips, and the firm's overall turnover today is equivalent to a fifth of South Korea's GDP.

Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said.

Lee Jae-yong has effectively been at the helm of the sprawling Samsung group since his father and group chairman Lee Kun-hee was left bedridden by a heart attack in 2014.

The heir of South Korean giant Samsung was arrested Friday as part of a probe into corruption and influence-peddling that caused President Park Geun-Hye to be impeached.

South Korean prosecutors on Monday asked for the heir to giant conglomerate Samsung to be arrested for bribery in connection with a political scandal that has seen President Park Geun-Hye impeached.

Tech giant Samsung Electronics Co Ltd said on Thursday it will carefully review proposals made by U.S. hedge fund Elliott Management.

A vote on combining companies in the Samsung empire is pitting its wealthy founding family against small shareholders and foreign investors in a rare challenge to the power of South Korea's ubiquitous business conglomerates.

Samsung's heir apparent today bowed in apology for one of the group's flagship hospitals becoming an epicentre of the MERS outbreak as South Korea reported three new cases, but no additional deaths.

Samsung Group is reorganising its business empire as the children of Samsung Electronics Co Ltd chairman and patriarch Lee Kun-hee, 72, who has been hospitalised since May following a heart attack, prepare to take over the family enterprise.

Questions about the South Korean conglomerate's future have intensified since 72-year old patriarch Lee Kun-hee was hospitalised following a heart attack in May - an event that appears to have speeded up steps to hand over the reins to his son and unofficial heir apparent Jay Y. Lee as well as his two daughters.

The only son of Samsung's frail 72-year-old chairman Lee Kun-hee, Jay has been groomed for years to take over the sprawling South Korean family-run "chaebol", a conglomerate with interests spanning technology and insurance to shipbuilding and construction. Samsung Group's 2012 revenue of 380 trillion won ($371 billion) was more than a quarter of So...

The only son of Samsung's frail 72-year-old chairman Lee Kun-hee, Jay, has been groomed for years to take over.

The heirs to South Korea's Samsung group announced their plans to pay more than $10 billion in death duties Wednesday -- one of the world's biggest ever inheritance tax settlements -- including donating Picasso and Monet artworks.

The family of deceased Samsung Electronics chairman Lee Kun-hee said on Wednesday it will pay more than 12 trillion won ($10.78 billion) in inheritance taxes for the estate of the late patriarch.

When Lee Kun-hee was assembling one of the world's biggest privately owned art collections, little did he know that it would become embroiled in his family's tax woes.

Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said. Under Lee's leadership, Samsung rose to become the world's largest producer of smartphones and memory chips, and the firm's overall turnover today is equivalent to a fifth of South Korea's GDP.

Samsung Electronics chairman Lee Kun-hee, who transformed the South Korean firm into a global tech titan, died at the age of 78 on Sunday, the company said.

Lee Jae-yong has effectively been at the helm of the sprawling Samsung group since his father and group chairman Lee Kun-hee was left bedridden by a heart attack in 2014.

The heir of South Korean giant Samsung was arrested Friday as part of a probe into corruption and influence-peddling that caused President Park Geun-Hye to be impeached.

South Korean prosecutors on Monday asked for the heir to giant conglomerate Samsung to be arrested for bribery in connection with a political scandal that has seen President Park Geun-Hye impeached.

Tech giant Samsung Electronics Co Ltd said on Thursday it will carefully review proposals made by U.S. hedge fund Elliott Management.

A vote on combining companies in the Samsung empire is pitting its wealthy founding family against small shareholders and foreign investors in a rare challenge to the power of South Korea's ubiquitous business conglomerates.

Samsung's heir apparent today bowed in apology for one of the group's flagship hospitals becoming an epicentre of the MERS outbreak as South Korea reported three new cases, but no additional deaths.

Samsung Group is reorganising its business empire as the children of Samsung Electronics Co Ltd chairman and patriarch Lee Kun-hee, 72, who has been hospitalised since May following a heart attack, prepare to take over the family enterprise.

Questions about the South Korean conglomerate's future have intensified since 72-year old patriarch Lee Kun-hee was hospitalised following a heart attack in May - an event that appears to have speeded up steps to hand over the reins to his son and unofficial heir apparent Jay Y. Lee as well as his two daughters.

The only son of Samsung's frail 72-year-old chairman Lee Kun-hee, Jay has been groomed for years to take over the sprawling South Korean family-run "chaebol", a conglomerate with interests spanning technology and insurance to shipbuilding and construction. Samsung Group's 2012 revenue of 380 trillion won ($371 billion) was more than a quarter of So...

The only son of Samsung's frail 72-year-old chairman Lee Kun-hee, Jay, has been groomed for years to take over.