Works from Samsung Head’s Storied Collection Head to State-Run South Korean Museums

By Alex Greenberger

In a coup for South Korean art institutions, museums across the country are set to receive works from the collection of the late Samsung Electronics chairman Lee Kun-hee, which is worth billions of dollars and includes more than 13,000 works. Various South Korean outlets, including Naver, Donga, and Yonhap, reported the news on Wednesday.

Although details of the donation are still unclear, the latest news surrounding Lee’s collection marks a significant shift that will ensure that some pieces in it won’t head to sale. The heirs to Lee’s fortune had been considering selling the collection to help pay off a hefty inheritance tax, arousing widespread concern among museum officials in the country.

Reports by South Korean outlets did not specify an exact number of works that are to be given to institutions in the country, though Hankyung said that “more than half” of the holdings would be donated. Details about which works would be given to which museums also remain uncertain, though they could head to institutions like the National Museum of Korea and the National Museum of Modern and Contemporary Art, both of them in Seoul...READ MORE