oreans of all ages and backgrounds had art on their mind in 2021, when the entire country became fixated on the prodigious art collection amassed by late Samsung Group chairman Lee Kun-hee, who passed away in late 2020. As Korea’s wealthiest man, Lee left behind a reported net worth of USD 21 billion, and with it an inheritance tax bill of more than USD 10 billion. In a bid to avoid losing control of Samsung (which in 2020 accounted for some 20 percent of the country’s GDP) and to partially offset their onerous tax burden, Lee’s
Scramble for the Future
Jan 02, 2022
3 minutes
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