Edit... Reham Mosad

The late Lee Kun-hee turned Samsung into one of the pillars of South Korea's economy.

The family of Samsung Electronics Group's late CEO, Lee Kun-hee, is set to pay more than 12 trillion South Korean won, equivalent to $10.78 billion, in inheritance tax in South Korea.

South Korea has one of the world's largest valuable tax laws on legacies.

Lee, a former owner of Samsung Group who is credited with turning the company into one of the biggest global names in the electronics world, died last October.

Investors in the capital markets are following developments in the legacy tax of Li Con's heirs, which may have an impact on the family's share of the giant group.

Shares listed on the stock exchange as Samsung Group sections showed mixed performance after the news of the estate tax of the family that came into ownership of the group, which did not provide sufficient clarity regarding the sale or retention of quantities of group shares.

Investors should wait for the group to submit documents to the official authorities so that they can discover any changes in the ownership of Samsung shares belonging to Jae Wei Lee, son of the deceased owner of the group, Lee Konhei. Jae-wae Lee is Executive Vice President of Companies, and has been Samsung's de facto CEO since 2014.

Jae-wae Lee, the heir to Samsung, remains in prison for a sentence that expires two and a half years after his conviction in the bribery scandal involving South Korean former President Park Geun-hye.

In a statement published by the Samsung Group, it said that the estate tax paid by the family of the deceased owner of the group was one of the largest payments made by Samsung in Korea and worldwide.

The statement added that Lee's family "expects to pay 12 trillion won in tax on the estate, which is estimated to be more than half the value of the total estate left behind by the late Chairman of the group."

The statement noted that the collection of artefacts and paintings left by the former President of Samsung would be made in the form of donations to the National Museum of Korea and other cultural organizations.

Lee Kohn's collection contains paintings by leading artists such as Marc Chagall, Pablo Picasso, Paul Jogan, Claude Monet, Juan Miró and Salvador Dalí.

The media said that the donation of such acquisitions would result in a devaluation of the family's estate tax.

The South Korean estate tax is the second highest in Japan, and the highest in the world, with South Korean authorities collecting 50 percent of the deceased's property as a estate tax.

The tax due from a family may be further increased if the deceased has a share of the company that guarantees him control of the board of directors, which increases the likelihood that the estate tax owed by the family of the former Samsung owner will exceed 50% of the value of his property.

Compared to South Korea, heirs in the United States and the United Kingdom repay 40 percent of their value through inheritance. The average estate tax in OECD countries is 15 per cent of heirs.