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Corporate art museums shift from charity to platform business

Corporate art museums in South Korea are shifting from social contribution spending to revenue platforms as companies recast them as ESG assets. Hanwha will open Pompidou Center Hanwha at Seoul\'s 63 Building in June, setting ticket and membership prices and positioning it as a multi-purpose cultural space. Earlier, Samsung, Lotte and POSCO tied museums to branding and ESG, with examples including the Lee Kun-hee Collection donation and formal ESG metrics for museum operations.

Industry

Samsung family completes 12 trillion won inheritance tax payment for Lee Kun-hee

The Samsung family has completed payment of 12 trillion won in inheritance tax on the estate of the late former chairman Lee Kun-hee over five years, finishing six installments, heirs said on Saturday. The amount is about 50 percent more than South Korea’s 2024 inheritance tax revenue of 8.2 trillion won and is the largest such payment since the country’s founding. The estate included stakes in affiliates and real estate.

Industry

SK Group makes AI video of founding chairmen, shares it on 73rd anniversary

SK Group said on April 14 it has produced an AI video featuring sayings and management episodes of founding chairman Choi Jong-kun (최종건) and former chairman Choi Jong-hyun (최종현) and is sharing it with all employees to mark its 73rd anniversary. The five-minute video begins with the 1953 rebuilding of Sunkyung Textiles after the Korean War and reviews the group’s growth. It is being shown at SK Seorin Building and broadcast internally.