Latest news with #LeeKun-hee
Korea Herald
5 days ago
- Lifestyle
- Korea Herald
Get something good for body and soul this weekend
To take your mind off the oppressive heat, slurp nutrition-packed cold soybean broth noodles or take in the view of Changdeokgung while sipping fair-trade coffee. Looking inward to discover your inner self with tea recommended just for you might also distract you from all that is wrong with the world. Icy, nutrient-packed summer eats With temperatures in Seoul soaring to a sweltering 37.8 degrees Celsius — setting a new record for the highest ever logged in the city during the July 1-10 period since records began — it's time to cool down with icy, nutritious summer meals. One of the favorites is kongguksu, a beloved Korean comfort dish that translates to 'soybean noodles.' This chilled delicacy features noodles served in a silky, creamy broth made from ground soybeans. Packed with protein and boasting a distinctive flavor, kongguksu is a go-to for Koreans looking to beat the heat, revive their appetites, and recharge their energy. For those eager to try some of the best kongguksu in Seoul, three names stand out: Jinju Hoegwan in Jung-gu, Jinju Jip in Yeouido, and Matjarang in Gangnam. Located in the heart of central Seoul, Jinju Hoegwan is a must-visit. The restaurant famously counted the late Samsung Chairman Lee Kun-hee among its regulars, and it remains a magnet for diners, especially in the summer. If you visit Jinju Hoegwan, don't miss the kimchi served alongside the noodles. The side dish provides the perfect tangy contrast to the rich, nutty broth. A bowl of kongguksu here will cost 16,000 won (about $11) — a touch on the pricey side, but well worth it for a local-approved taste of Korean summer.' Jinju Hoegwan 26 Sejong-daero 11-gil, Jung-gu, Seoul Space that welcomes everyone A building embodying the late President Roh Moo-hyun's people-centered philosophy stands in the heart of Seoul, right next to Changdeokgung. The building stands out with warm, yellow-tone bricks and a unique design that emphasizes flow and horizontality. The roof, exterior walls, and the ground connect seamlessly, forming a structure that flows gently without interruption. Whatever impressions you get from the building, it welcomes everyone. So step inside without any purpose and not having to spend the money. The interior design also creates a continuous flow, forming a single stair path that connects from the lowest level of the building to the top. Climbing up along the terraced bookshelves to the very top, the third floor reveals Coffee Saneun Sesang, which means 'A World Where Coffee Lives.' The cafe, which serves fair-trade coffee and other options, opens onto a terrace that offers a tranquil view of Changdeokgung. The community center, which was built with funding of 7.1 billion won ($5.2 million) donated by 28,148 citizens between 2019 and 2021, houses a studio, reservable lecture rooms, and a performance venue, all under one roof. Rest areas are available throughout the building. The center also offers a wide range of activities, from a choir and a teen acting class to lectures. The center is open from 10 a.m. to 8 p.m., every day except Mondays. Roh Moo-hyun Civic Center 73 Changdeokgung-gil, Jongno District, Seoul Finding stillness in Mullae-dong In Mullae-dong, a neighborhood in Yeongdeungpo-gu known for its unique blend of small shops and industrial warehouses, there's a special place where you can focus entirely on yourself in a cozy, tranquil setting. The tea house Ado, whose name means "the path to myself," features a bar-style seating area on the first floor and a loft space upstairs. The second floor is available as a private room by reservation. Ado's menu recommends teas based on the seven emotions as defined in Eastern philosophy — joy, anger, sorrow, pleasure, love, hate and desire. You can also order seasonal fruit or traditional sweets to pair with tea. For a personalized experience, guests can take a short questionnaire and receive a curated tea recommendation. In one corner of the tea house, there's a guestbook in which visitors can write their personal stories or worries. You're welcome to add your own stories or leave a reply to someone else's. Customers can share warm gestures even with strangers across pages. Due to its growing popularity, visits are limited to 90 minutes when there's a waiting list. Ado is closed on Tuesdays. It's open from 2 p.m. to 10 p.m. on weekdays and from noon to 10 p.m. on weekends. yoonseo.3348@ gypark@ jy@
The Star
09-07-2025
- Business
- The Star
Samsung heirs sell Seoul villa for US$16mil to help pay record inheritance tax bill
This residence in Seoul's Yongsan district was sold for 22.8 billion won by four heirs of the late Samsung chairman, including his widow and three children. - Yoo Sung-hyun/Herald Biz SEOUL: The heirs of the late Samsung Group chairman Lee Kun-hee have sold a luxury property in central Seoul for 22.8 billion won (US$16 million), in what appears to be part of a broader effort to pay South Korea's largest-ever inheritance tax bill. According to data from the Ministry of Land, Infrastructure and Transport's official property transaction database, the sale was finalised on June 13. Court registry records confirm that the villa, located in the Itaewon neighbourhood of Yongsan district, was jointly owned by Lee's widow Hong Ra-hee, honourary director of the Leeum Museum of Art, and their three children: Lee Jae-yong, executive chairman of Samsung Electronics, Lee Boo-jin, president of Hotel Shilla, and Lee Seo-hyun, president of Samsung C&T's fashion division. The buyer is believed to be a private-sector entrepreneur. As of now, the property title has not been formally transferred. The residence sits on 1,073sq m of land and spans about 497sq m in total floor area across three levels. The late Lee purchased the home in 2010 for approximately 8.28 billion won. The recent sale price marks a 175 per cent increase, averaging roughly 70 million won per pyeong, a traditional Korean land measure equivalent to 3.3sq m. It is located near a cluster of high-end homes informally known as the 'Samsung family town.' Following Lee Kun-hee's death in October 2020, the property was divided among the four family members in May 2021. The widow Hong received a one-third stake, while each of the three children received two-ninths. Although the home was not publicly listed, reports suggest the family began exploring a sale earlier this year. The timing aligns with a larger financial strategy the Samsung heirs have pursued since inheriting an estimated 26 trillion won in assets from Lee's estate. Under South Korean tax law, roughly 12 trillion won in inheritance taxes is owed, an unprecedented amount. The family is paying it over six years through a government-approved installment plan. Since 2021, the heirs have taken various steps to meet their tax obligations. These include selling shares in Samsung affiliates and securing loans using stock as collateral. The recent property sale is one of the more tangible examples of asset liquidation tied to this effort. This is not the first Itaewon villa the family has sold. In 2023, they finalised the sale of another nearby property also inherited from Lee. That home had been quietly listed in 2021 for 21 billion won. It changed hands the following year, though the final sale price was not disclosed. Like the latest sale, the property had been originally purchased by Lee in 2010. South Korea's inheritance tax, among the highest in the OECD, has a top rate of 50 per cent, which increases to 60 per cent when company shares are transferred with management control rights. It is a structure that disproportionately impacts family-run conglomerates like Samsung. The tax was first introduced under President Park Chung Hee in the 1960s as part of broader efforts to institutionalise state control over wealth and curb excessive accumulation during the country's rapid industrialisation. - The Korea Herald/ANN
Straits Times
09-07-2025
- Business
- Straits Times
Samsung heirs sell Seoul villa for $21m to help pay record inheritance tax bill
Sign up now: Get ST's newsletters delivered to your inbox The sale of a luxury property in central Seoul for 22.8 billion won was finalised on June 13. SEOUL - The heirs of the late Samsung Group chairman Lee Kun-hee have sold a luxury property in central Seoul for 22.8 billion won (S$21 million), in what appears to be part of a broader effort to pay South Korea's largest-ever inheritance tax bill. According to data from the Ministry of Land, Infrastructure and Transport's official property transaction database, the sale was finalised on June 13. Court registry records confirm that the villa, located in the Itaewon neighborhood of Yongsan district, was jointly owned by Mr Lee's widow Ms Hong Ra-hee, honourary director of the Leeum Museum of Art, and their three children: Mr Lee Jae-yong, executive chairman of Samsung Electronics, Mr Lee Boo-jin, president of Hotel Shilla, and Ms Lee Seo-hyun, president of Samsung C&T's fashion division. The buyer is believed to be a private-sector entrepreneur. As of now, the property title has not been formally transferred. The residence sits on 1,073 square meters of land and spans about 497 square meters in total floor area across three levels. The late Mr Lee purchased the home in 2010 for approximately 8.28 billion won. The recent sale price marks a 175 per cent increase, averaging roughly 70 million won per pyeong, a traditional Korean land measure equivalent to 3.3 square meters. It is located near a cluster of high-end homes informally known as the 'Samsung family town.' Following Mr Lee Kun-hee's death in October 2020, the property was divided among the four family members in May 2021. The widow Ms Hong received a one-third stake, while each of the three children received two-ninths. Although the home was not publicly listed, reports suggest the family began exploring a sale earlier this year. The timing aligns with a larger financial strategy the Samsung heirs have pursued since inheriting an estimated 26 trillion won in assets from Mr Lee's estate. Under South Korean tax law, roughly 12 trillion won in inheritance taxes is owed, an unprecedented amount. The family is paying it over six years through a government-approved installment plan. Since 2021, the heirs have taken various steps to meet their tax obligations. These include selling shares in Samsung affiliates and securing loans using stock as collateral. The recent property sale is one of the more tangible examples of asset liquidation tied to this effort. This is not the first Itaewon villa the family has sold. In 2023, they finalised the sale of another nearby property also inherited from Mr Lee. That home had been quietly listed in 2021 for 21 billion won. It changed hands the following year, though the final sale price was not disclosed. Like the latest sale, the property had been originally purchased by Mr Lee in 2010. South Korea's inheritance tax, among the highest in the OECD, has a top rate of 50 per cent, which increases to 60 per cent when company shares are transferred with management control rights. It is a structure that disproportionately impacts family-run conglomerates like Samsung. The tax was first introduced under President Park Chung Hee in the 1960s as part of broader efforts to institutionalise state control over wealth and curb excessive accumulation during the country's rapid industrialisation. THE KOREA HERALD/ ASIA NEWS NETWORK
Korea Herald
08-07-2025
- Business
- Korea Herald
Samsung heirs sell Seoul villa for W22.8b to help pay record inheritance tax bill
The heirs of the late Samsung Group chairman Lee Kun-hee have sold a luxury property in central Seoul for 22.8 billion won, or about $16.7 million, in what appears to be part of a broader effort to pay South Korea's largest-ever inheritance tax bill. According to data from the Ministry of Land, Infrastructure and Transport's official property transaction database, the sale was finalized on June 13. Court registry records confirm that the villa, located in the Itaewon neighborhood of Yongsan district, was jointly owned by Lee's widow Hong Ra-hee, honorary director of the Leeum Museum of Art, and their three children: Lee Jae-yong, executive chairman of Samsung Electronics, Lee Boo-jin, president of Hotel Shilla, and Lee Seo-hyun, president of Samsung C&T's fashion division. The buyer is believed to be a private-sector entrepreneur. As of now, the property title has not been formally transferred. The residence sits on 1,073 square meters of land and spans about 497 square meters in total floor area across three levels. The late Lee purchased the home in 2010 for approximately 8.28 billion won. The recent sale price marks a 175 percent increase, averaging roughly 70 million won per pyeong, a traditional Korean land measure equivalent to 3.3 square meters. It is located near a cluster of high-end homes informally known as the 'Samsung family town.' Following Lee Kun-hee's death in October 2020, the property was divided among the four family members in May 2021. The widow Hong received a one-third stake, while each of the three children received two-ninths. Although the home was not publicly listed, reports suggest the family began exploring a sale earlier this year. The timing aligns with a larger financial strategy the Samsung heirs have pursued since inheriting an estimated 26 trillion won in assets from Lee's estate. Under South Korean tax law, roughly 12 trillion won in inheritance taxes is owed, an unprecedented amount. The family is paying it over six years through a government-approved installment plan. Since 2021, the heirs have taken various steps to meet their tax obligations. These include selling shares in Samsung affiliates and securing loans using stock as collateral. The recent property sale is one of the more tangible examples of asset liquidation tied to this effort. This is not the first Itaewon villa the family has sold. In 2023, they finalized the sale of another nearby property also inherited from Lee. That home had been quietly listed in 2021 for 21 billion won. It changed hands the following year, though the final sale price was not disclosed. Like the latest sale, the property had been originally purchased by Lee in 2010. South Korea's inheritance tax, among the highest in the OECD, has a top rate of 50 percent, which increases to 60 percent when company shares are transferred with management control rights. It's a structure that disproportionately impacts family-run conglomerates like Samsung. The tax was first introduced under President Park Chung Hee in the 1960s as part of broader efforts to institutionalize state control over wealth and curb excessive accumulation during the country's rapid industrialization.
Korea Herald
10-06-2025
- Entertainment
- Korea Herald
National Museum of Korea seeks to broaden reach of Korean culture overseas
State-run museum supports over 23 museums in 10 countries through Overseas Korean Galleries Support Program South Korean culture has much more to offer than K-pop. Setting its sights on making South Korea one of the top five nations in terms of soft power, the state-run National Museum of Korea has been actively promoting Korean art and culture by providing grants to Korean galleries at overseas institutions through its Overseas Korean Galleries Support Program since 2009. A total of 23 museums in 10 countries are part of the program as of May this year. They include the Metropolitan Museum of Art in New York, the Victoria & Albert Museum in London and the Vietnam Museum of Ethnology in Hanoi, to name a few. For example, the Reitberg Museum in Switzerland is hosting a special exhibition titled "Hallyu! The Korea Wave" from April 4 to Aug. 17, showcasing Korea's vibrant and diverse pop culture. With over 200 objects on display, the exhibition invites visitors to delve into the genesis of hallyu, its links to traditional Korean art, and its global influence on artistic fields, including pop culture, film and fashion. On view at the Reitberg Museum are works by video art pioneer Paik Nam-june, a replica of the set from the four-time Oscar-winning film "Parasite," and hanbok worn by Korean celebrities. The exhibition also features a Google Art Dance Room where visitors can learn K-pop moves and dance along with choreographers. The exhibition is part of a traveling series that began in 2022. The show was created by a curator at the Victoria & Albert Museum in the UK appointed through NMK's support program. The exhibition has toured internationally, with stops at the Museum of Fine Arts in Boston and the Asian Art Museum in San Francisco in 2024. A special touring exhibition will showcase artifacts donated by the late Samsung Group Chairman Lee Kun-hee starting in November. The exhibition will feature various Korean cultural artifacts, including several National Treasures, according to a senior official at the state-run museum. Also, curatorial staff members have been dispatched to the Smithsonian National Museum of Asian Art and the Art Institute of Chicago to prepare for the exhibition. The first stop will be at the Smithsonian National Museum of Asian Art in the US in November, followed by the Art Institute of Chicago in March and the British Museum in September next year.
