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Calls grow to establish Nat l Museum of Modern Art after late Samsung chairman s art donation Posted : 2021-05-30 17:21 Updated : 2021-05-30 17:47 Kim Whan-ki s Women and Jars (1950s) is part of Lee Kun-hee s art collection donated to the MMCA. Courtesy of MMCA By Park Han-sol The news of the late Samsung Chairman Lee Kun-hee s massive art collection being donated to state-run museums across the country has arguably been the most exciting topic in Korea s art circles in recent months. With some 23,000 pieces of art and cultural artifacts at hand, the Ministry of Culture, Sports and Tourism is mulling over a plan to build a new museum to house the collection. ....
Samsung family mulls selling family art collections and stocks as collateral to pay inheritance tax PUBLISHED BY The family of Lee Kun-hee, Korean industrialist and Samsung Group chairman who died in 2020, is scrambling to meet the huge inheritance tax bill of around $12 billion that they have to pay soon. The bill results from South Korea’s 60 percent inheritance tax, the highest in the OECD and is a reflection of the wealth of the uber-rich in the country. The Samsung Group or the family have made it clear how they intend to meet the tax liability. According to analysts, the payments are likely to be spread across five years under a complex structure that will reshape the family’s fortunes. The family and the company have assured that they will meet the liability and account for the payments made. ....
Jean-Michel Basquiat, a black boxer who produced African sculpture and racial discrimination as a source of inspiration in 1982, produced “Untitled (Black Image)”, one of the masterpieces that broke new ground in art. In the same year Lee Kun-hee Samsung focused its efforts on mastering how to transfer millions of metal oxide semiconductor transistors to a single computer chip, a new process that would help drive tremendous advances in new technologies. While the American painter and Korean industry who died in October 2020 were worlds apart, they have been inextricably linked. Basquiat’s striking fabric Lee’s wife and three children are among the chat houses on large estates when they are considering separation, while making plans to pay a $ 12 billion inheritance tax bill. ....
Eyes are on how Samsung scions will pay one of world s largest tax bills Posted : 2021-04-20 16:18 By Baek Byung-yeul As the due date for paying inheritance tax owed by the late Samsung Group Chairman Lee Kun-hee s bereaved family is approaching, observers are looking at how the heirs will pay one of the world s largest inheritance tax bills estimated at around 13 trillion won ($11.7 billion). Industry sources said Tuesday that Samsung Group may officially announce a payment plan for the tax, which is due by the end of this month, next week although a company official declined to reveal any details on the matter. ....
How Samsung Founder's Family Could Pay Among World's Biggest Tax Bills ndtv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ndtv.com Daily Mail and Mail on Sunday newspapers.