A court in South Korea has ruled Samsung Electronics Chairman Lee Kun-hee does not have to share $3.6 billion of his inheritance with family members.
The court said other family members were entitled to a portion of the inheritance, but the 10-year statute of limitations on inheritance claims has expired, allowing Lee, the richest man in South Korea, to keep the contested stakes in the electronics giant Samsung Group and in Samsung Life Insurance Co., Yonhap reported Friday.
The lawsuit was filed by Lee's older brother Lee Maeng-hee, older sister Lee Sook-hee and the family of a deceased son of Lee Byung-chull, who founded Samsung in 1938.
The company's founder died in 1987, leaving most of his inheritance to the current chairman of Samsung Electronics.
Family members had accused the chairman of hiding the contested assets in a trust held under a different name.