[South Korea's Samsung Chairman Lee Kin-hee passed away, heir will pay nearly 7.6 billion U.S. dollars in inheritance tax] On October 25, South Korean Samsung Group's Chairman Lee Kin-hee died at the Seoul Samsung Hospital at the age of 78. The heirs, including his only son Li Zayong and his sisters, will bear a record high estate tax of $7.6 billion. According to a report issued by Ernst & Young, South Korea’s inheritance tax ranks among the top in the world, with the highest tax rate being higher than 45% in France and 40% in the United Kingdom and the United States, the same as Germany and Switzerland. The minimum tax rate is 18%, and the maximum tax rate of more than US$25 million is 50%. Based on this calculation, after Li Jianxi's death, his heirs may face an estate tax of US$7.6 billion. In the Forbes 2020 list of the richest in South Korea released on July 9, Samsung Chairman Lee Kin Hee ranked first with a wealth of US$17.3 billion; his son, Samsung’s Vice Chairman Lee Jae-yong, ranked fourth with a wealth of US$6.7 billion.