Late Samsung head's art collection museum passes feasibility review

All News 16:30 July 20, 2023

SEOUL, July 20 (Yonhap) -- South Korea's finance ministry said Thursday it has approved the feasibility review to build a new art museum in central Seoul that will display works collected by late Samsung Chairman Lee Kun-hee.

Lee's family donated 23,000 art pieces following his death in October 2020. The collection includes masterpieces by Korean and Western artists, such as Kim Whan-ki, Claude Monet and Salvador Dali.

In 2021, South Korea announced that it has decided to build a new museum in Seoul's Jongno Ward, considering the site's proximity to other museums and art galleries, including the National Museum of Modern and Contemporary Art.

The project to build the new museum is expected to vitalize cultural tourism in central Seoul, in collaboration with other spots, such as Gyeongbok Palace, the Ministry of Economy and Finance said in a statement.

The budget for the project, which will run through 2028, is currently set at 118.6 billion won (US$93.5 million).