SEOUL — LG Group Chairman Koo Kwang-mo, alongside his family, faced defeat in a lawsuit aiming to reclaim a portion of the inheritance taxes levied after the death of former Chairman Koo Bon-moo in 2018. The Seoul Administrative Court ruled against the family, who had been taxed nearly 1 trillion won ($735.7 million) on an inheritance valued at about 2 trillion won, including shares in LG Corp., the conglomerate's holding company.
According to Yonhap News Agency, The lawsuit challenged what the Koo family considered an excessive tax imposition, specifically disputing the valuation of a 1.12 percent stake in the unlisted company LG CNS. The court, however, found the tax assessment, which included a significant share price for LG CNS, to be legitimate. This legal defeat comes amid ongoing family disputes over the division of the inheritance, with Koo Kwang-mo inheriting the largest share of LG Corp. and facing separate legal challenges from his family members over the distribution of assets.