Jan
05
More on the Samsung scandal.
Now The Art Newspaper has published allegations that Samsung chairman Lee Kun-hee set up a $225 million slush fund to buy art for his art museum director wife. The allegations focus focused specifically on the acquisition of Roy Lichtenstein's Happy Tears (pictured above) which sold at Christie's New York in 2002 for $7,159,500. Samsung has denied the allegations but The Art Newspaper says it has a seen a list of paintings bought with the slush fund.
All signs indicate that Samsung has deep problems with its culture. And the usual rule of thumb in these sorts of cases is that these allegations are just scratching the surface. More will come out.
Hat tip to The Daily Caveat blog.
It’s nice to see the ‘happy tears in your blog with your article about bad company.
I wanted you to send a trackback but it didn’t work well.