(Samsung’s Lee Family to Pay Record Inheritance Tax)

The family of the late Samsung Electronics Chairman Lee Kun-hee will pay the largest inheritance tax in South Korean history. The payment totals approximately 12 trillion won, or $10.8 billion USD. This follows Lee Kun-hee’s death in October 2020. His heirs include his wife Hong Ra-hee, son and Samsung Electronics Vice Chairman Lee Jae-yong, and two daughters.

South Korea imposes high inheritance taxes. The top rate is 50%. The massive size of Lee Kun-hee’s estate triggered this enormous tax bill. His holdings included significant stakes in Samsung Electronics, Samsung Life Insurance, and Samsung C&T.

The family submitted their inheritance tax return to South Korean authorities. They confirmed the payment plan. The family will pay the tax in six installments over five years. The first installment is due this month. They will pay the remaining tax by April 2026.

The family plans to fund the payment partly by borrowing against their shares. They may also sell some non-core assets. Selling significant portions of their Samsung shares directly is unlikely. Such sales could weaken their control over the Samsung Group.

The payment process is complex. It involves multiple companies and asset types. The family expressed their commitment to fulfilling this obligation. They stated this respects the wishes of the late chairman.

(Samsung’s Lee Family to Pay Record Inheritance Tax)

This tax payment is unprecedented globally. It far exceeds previous large inheritance taxes paid elsewhere. It highlights the immense wealth controlled by South Korea’s major family-run conglomerates, known as chaebols. The Lee family’s wealth stems largely from Samsung Group. Samsung Group is South Korea’s largest conglomerate. It dominates the global memory chip and smartphone markets. The tax payment represents a significant transfer of wealth to the South Korean government. The government stated the funds will support public welfare programs.

(Tiktok Retro Family Scientific Research And Cultural Heritage)

Beijing, China – TikTok announced a new initiative called “Retro Family” aimed at boosting scientific research and protecting cultural heritage. The project connects users with experts to share historical knowledge and traditional practices through short videos.

The platform now teams up with universities, museums, and research groups worldwide. These partners will provide accurate content about ancient technologies, folk arts, and endangered traditions. TikTok hopes this helps younger generations understand their roots while giving researchers data to study cultural trends.

Creators can join by uploading clips demonstrating old crafts, recipes, or storytelling methods. For example, a recent video showed how indigenous communities in Peru weave textiles using 500-year-old techniques. Another featured a Japanese chef explaining fermentation processes from the Edo period. Experts verify the content to ensure reliability.

The initiative also aids scientists. By analyzing popular retro-themed videos, researchers can track how traditions evolve digitally. Early findings suggest users prefer hands-on tutorials, like dyeing fabric with natural pigments or restoring vintage items. This data helps historians identify which practices risk fading.

TikTok’s cultural heritage lead stated, “Retro Family isn’t just about nostalgia. It’s a tool for education and preservation. We want technology to bridge the past and future.” The team plans to add features like live Q&A sessions with historians and digital archives for rare artifacts.

Over 200 institutions have joined since the pilot phase last year. A partnership with Egypt’s Ministry of Antiquities will soon showcase 3D scans of pyramids and interactive hieroglyphic lessons. Meanwhile, European museums will share behind-the-scenes restorations of classical paintings.

The project has sparked global interest. A viral video series on ancient Chinese medicine gained 15 million views, prompting schools to request educational collaborations. Users in rural areas also use the platform to document local customs at risk of disappearing.

(Tiktok Retro Family Scientific Research And Cultural Heritage)

Retro Family’s next phase includes grants for creators focusing on minority cultures and a database for academic use. TikTok confirmed ongoing talks with UNESCO to expand the initiative’s reach.