A vast art collection belonging to the late Samsung Chairman has been revealed.

A vast art collection

The late Samsung Chairman Lee Kun Hee was known not only as a "giant" in the business world, but also as an art collector with a vast collection of over 23,000 works and artifacts, many of which are considered national treasures under South Korean regulations.

As an art lover, the late Chairman Lee collected many masterpieces by world-renowned painters such as Pissarro, Claude Monet, Salvador Dalí, and many other modern works.

Following his death in late 2020, many questions arose in South Korea about the fate of this enormous collection. Lee's descendants were required to pay inheritance tax amounting to $12 billion, leading to various theories such as: the family using the collection to pay the tax, or auctioning the collection and using the proceeds to cover the tax…

In late April 2021, the heirs – through Samsung Electronics – officially announced the donation of the entire collection of over 23,000 works and artifacts from the late Chairman Lee's collection to museums in South Korea. According to information from Samsung representatives and the South Korean Ministry of Culture, Sports and Tourism, this art collection is divided into three parts.

The first part comprises approximately 21,600 works delivered to the National Museum of Korea. Most of these are works and artifacts from classical Korean masters, including 14 national treasures, most notably the painting...Inwangjesaekdoby Jeong Seon; 64 other treasures, including extremely rare paintings such as this one.Bodhisattva of Great Compassion and Mercy with a Thousand Hands(Painting of the Bodhisattva of Great Compassion with a Thousand Arms) has existed since the Goryeo period (approximately 918-1392).

The second part of the collection, comprising approximately 1,400 modern art pieces, was transferred to the National Museum of Modern and Contemporary Art (MMCA). Among these are works by world-renowned 19th and 20th-century artists such as Monet, Renoir, Pissarro, Dalí, and Joan Miró. This collection also includes creations by famous Korean modern artists such as Kim Whanki, Lee Jung-seob, and Park Soo-keun.

The remaining approximately 200 works of modern Korean art will be distributed to local museums that have some connection to the artists, such as the Lee Jung Seob Art Museum, the Daegu Art Museum, or the Jeonnam Art Museum.

This is considered the largest fundraising event ever held in South Korea, and many people are eagerly awaiting the day they can admire the works in this collection.

Decision to build a separate museum.

Shortly thereafter, the South Korean government decided to build a new museum, named the "Lee Kun Hee Art Museum," to honor the late chairman and to facilitate research and preservation of his works.

In early July, South Korean Minister of Culture, Sports and Tourism Hwang Hee announced the formation of a committee comprising government officials and independent experts to select one of two locations in Seoul – either a plot of land in Yongsan District (near the National Museum of Korea) or a plot of land in Songhyeon-dong, Jongno District (near the National Museum of Modern and Contemporary Art) – for the construction of the museum.

This announcement sparked protests from many localities, as they had high hopes of being chosen as the location for these art exhibitions. They argued that there was a significant disparity in infrastructure and culture between Seoul and other major cities and other regions.

Many people have also expressed doubts about whether it is truly necessary to build a new museum to display the late Samsung chairman's collection, given that his relatives have already allocated the works to museums based on the time and circumstances of their creation. This tiered display would create a more appropriate context for the artifacts than concentrating them all in one place, regardless of the timeline and context of the works.

Kim Young-na, an art history researcher on the newly formed committee, said the collection also includes more than 10,000 books and documents that need to be studied, requiring the collaboration of experts from various institutions. Considering public accessibility, keeping the entire collection in the heart of Seoul is the most logical option.

According to Minister Hwang Hee, the committee relied on four principles for consideration and decision-making: firstly, the donors and their genuine wishes for the collection; secondly, the need for an innovative approach to researching and displaying works originating from various historical periods; thirdly, the need for close cooperation between existing museums in researching and exhibiting the works; and fourthly, consideration of the cultural tourism impact and national prestige.

Concerned about the inability to create a suitable exhibition context due to the collection's diversity, Youn Bummo, Director of the National Museum of Modern and Contemporary Art, suggested that a combined exhibition would clearly showcase the collector's underlying philosophy while creating a new model for studying and exhibiting classical and modern art in parallel.

Amid public interest, the National Museum of Korea and the Seoul branch of the National Museum of Modern and Contemporary Art began exhibiting donated works on July 21st.

Minister Hwang Hee said he would try to finalize the construction site this year. He added that the museum is expected to be completed in 2027 or 2028 at a cost of approximately 100 billion won (US$86.8 million).

Huyen Chau - Photo: Internet