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Korean museums to receive 23,000 works from Samsung estate in $11bn tax settlement

Claude Monet s Le Bassin aux Nympheas is among the works to be donated
Courtesy of MMCA
Around 23,000 works of art from the collection of the late Samsung Electronics chairman Lee Kun-hee are due to be donated to museums and institutions across South Korea to help pay a massive inheritance tax bill of 12 trillion won ($10.8bn).
In a deal agreed with Korean tax officials, works including
Le Bassin aux Nympheas by Claude Monet,
Les Amoureux aux Bouquets Rouges by Marc Chagall, and
Family of Marsupial Centaurs by Salvador Dalí, will be donated to the National Museum of Modern and Contemporary Art, according to the Korea Herald. The museum, which runs four sites across South Korea, plans to stage an exhibition entitled ....

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Facing giant tax bill, Samsung heirs donate huge art trove

There are growing signs that Samsung is finally poised to make meaningful inroads in 5G, boosted by the confluence of rollouts across the world and intensifying pressure from governments of U.S. allies to block Huawei, the sector’s biggest player, from their networks.
In Wednesday’s news release, Samsung did not mention how Lee’s wife and children would split his assets between them, and there’s speculation that they haven’t yet reached a final agreement.
Most market analysts believe that Lee’s shares will be distributed in a way that would strengthen the leadership of his only son and corporate heir, Lee Jae-yong, who is currently serving a prison term for bribery and other crimes but who remains the de facto chief of Samsung Electronics. The elder Lee’s other children are Lee Boo-jin, CEO of Samsung’s Shilla luxury hotel chain, and Lee Seo-hyun, who heads the Samsung Welfare Foundation. ....

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