Nexon Heirs Pay Inheritance Tax With Shares Worth Billions

The family of Kim Jung-ju, the late billionaire founder of online game developer Nexon Co., has transferred some of its ownership in its parent, NXC Corp., to pay part of its massive inheritance tax bill, leaving the South Korean government as the second-largest NXC shareholder.

Kim’s wife, Yoo Junghyun, and two daughters have offloaded a 29.3% stake in NXC to the Ministry of Economy and Finance, the company said in a statement on Wednesday. Yoo now owns 34% of NXC, while the two daughters directly have 16.8% each.

“Of the assets left behind by Kim, NXC shares make up ...