CNN — TVs are better than ever in 2021, but almost all of them leave a black box on your wall or whatever surface they’re sitting on. Samsung’s The Frame strikes a different chord, ditching the ugly black box for a design that looks like a frame to hold art or a picture. When the TV goes off, the art turns on. That’s ...
Art Industry News is a daily digest of the most consequential developments coming out of the art world and art market. Here’s what you need to know on this Wednesday, May 26. NEED-TO-READ Only Five Percent of L.A. Board Members Are Black – A 2017 survey of 800 museums conducted by the American Alliance of Museums found that 89 percent of museum board members in ...
The wait is over. Today the family of Lee Kun-hee, the billionaire Samsung chieftain who died last October, began detailing his massive estate, the gargantuan tax they intend to pay on it, and their philanthropic plans, which include gifts of some 23,000 works from his art collection to South Korean museums and hundreds of millions of dollars to medical causes. Samsung said in a ...
To receive Morning Links in your inbox every weekday, sign up for our Breakfast with ARTnews newsletter. The Headlines TODAY WAS THE BIG DAY. The family of the pioneering Samsung head Lee Kun-hee, who died last year, revealed details about how they plan to deal with his $20 billion estate and the staggering $10.8 billion in taxes they must pay on it. Part of that plan: Give some 23,000 pieces of art that Lee collected to South ...
SEOUL, South Korea (AP) — Samsung’s founding family will donate tens of thousands of rare artworks, including Picassos and Dalis, to help them pay a massive inheritance tax bill following last year’s death of company chairman Lee Kun-Hee. They will also give hundreds of millions of dollars to medical projects and research in an apparent attempt to improve their public image as they proceed ...
SEOUL – Samsung’s founding family will donate tens of thousands of rare artworks, including Picassos and Dalis, and give hundreds of millions of dollars to medical research to help them pay a massive inheritance tax following last year’s death of chairman Lee Kun-Hee.The Lee family, including his wife and three children, expects to pay more than 12 trillion won ($10.8 billion) in taxes related ...
South Korea’s cultural leaders are worried about the fate of the multibillion-dollar art collection amassed by the late head of the Samsung empire. The heirs to the fortune are considering selling off prized artworks to pay a mountainous inheritance tax, rather than keeping the collection in the country as many had expected. Now, Korean arts organizations are all calling on the state to step ...
