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Posted : 2020-12-24 09:10
Updated : 2020-12-31 11:02
Samsung family members are seen in this photo taken at CES 2010 held in Las Vegas. / Courtesy of Samsung Electronics
By Kim Bo-eun
Attention is focusing on how the family members of the late Samsung Electronics Chairman Lee Kun-hee will pay inheritance taxes on stocks they will receive, after the amount was finalized at 11.04 trillion won, Tuesday. This is 12 times the amount of inheritance tax to be paid by family members of the late LG Group Chairman Koo Bon-moo.
The inheritance tax on the stocks is calculated based on the average price of the stocks over a period of four months ― two months prior to death and two months after. About a 60 percent tax rate is imposed on the calculated figure of 18.97 trillion won.
By Kim Hyun-bin
The year 2020 was full of uncertainties in the industrial and financial world. The COVID-19 pandemic has played its role forcing firms to swiftly digitize as well as other environmental factors that pushed companies to initiate green policies.
Listed below is The Korea Times top 10 ranking of major trends and some positive changes that occurred this year.
1. Donghak ants movement
Top of the list is the Donghak ants movement.
Seven out of 10 Korean office workers were found to be Donghak ants. Donghak ant, a new Korean term, refers to an individual investor who actively purchases stocks when stock prices plummet as has been the case with COVID-19 wreaking havoc on stock markets worldwide.
Samsung denies foul play about reports on compliance watchdog
Posted : 2020-12-21 16:31
Updated : 2020-12-21 16:37
Samsung Group leader Lee Jae-yong heads to a Seoul High Court to attend a re-hearing of his case, Monday. / Yonhap
By Baek Byung-yeul
Samsung has denied a media report that the conglomerate pulled strings behind the scenes regarding a court advisory panel s review of the group s compliance committee, saying that information it supplied was not manipulated.
In a statement released Monday, the conglomerate said Media Today, a local review of journalistic reporting, stated that Samsung allegedly delivered different sources than those in a report submitted to the court. Some civic organizations also criticized the company s alleged move.
Samsung s compliance body receives constructive review
Posted : 2020-12-20 16:54
Updated : 2020-12-20 19:14
Samsung Electronics Vice Chairman Lee Jae-yong, center, heads to a court room to attend a re-hearing of his case at the Seoul High Court, Nov. 30. / Yonhap
By Baek Byung-yeul
Samsung s self-created compliance committee received a constructive review from a court advisory panel, being recognized for its effectiveness as a watchdog in ensuring the country s top conglomerate abided by the law and improved group-wide management transparency.
As the group s leader Lee Jae-yong is undergoing a high court re-hearing over a bribery scandal involving jailed former president Park, it remains to be seen whether the group s efforts to be as transparent as possible will affect the ruling.