Samsung donating artworks of late chairman to pay huge tax liabilities
The successors of Samsung group announced their plans to pay more than $10 billion in death duties on Wednesday. It is one of the world’s biggest-ever inheritance tax settlements in South Korea.
However, to pay this huge debt the company is going to donate Picasso and Monet artworks of Lee Kun-hee, the late Samsung Electronics chairman.
Moreover, around 23,000 pieces from Lee’s collection will be donated in which 14 items are classed as National Treasures that will be showcased at the National Museum of Korea.
Apart from this, Samsung’s late chairman was the richest man in the country. Unfortunately, he died last October at the age of 78 after being hospitalized for years, leaving an estimated 22 trillion won ($19.6 billion) in assets.
But due to rigorous inheritance tax laws and high rates of the country, this huge money resulting in a hefty bill for the family, including Samsung Electronics vice-chairman Lee Jae-Yong, who is currently in jail for bribery, embezzlement, and other severe offenses.
Samsung steps forward to pay the Huge debts in installments
The Korean tech giant said in the statement, it will pay the billions in six installments starting from this month. Meanwhile, it will take some help from the asset shareholdings of Samsung Electronics, Samsung Life, Samsung C&T, as well as real estate. So that it will channelize the hefty debt through various subsidiaries of the company.
Besides, the conglomerate is important to Korea’s economic health as its overall turnover is equivalent to the fifth of the national gross domestic product of the nation. Therefore, another 1 trillion won will be donated to health causes, which half of it to be spent on building Korea’s first specialist infectious diseases hospital.
STAY CONNECTED WITH US:
- Join SammyFans on Telegram
- Like SammyFans.com on Facebook
- Follow SammyFans on Twitter
- Get the latest insights through Google News
- Send us tips at – [email protected]
Japan’s KDDI selected Samsung as the main vendor for 5G expansion. Samsung’s vRAN will be deployed by KDDI starting next year for 5G expansion. The company will provide 4G and 5G O-RAN-compliant vRAN solutions in Japan.
Samsung today confirmed selection by KDDI as a key 4G and 5G O-RAN compliant vRAN provider for their Open RAN deployment in Japan. The partnership with KDDI will help Samsung strengthen its role in Japan’s 5G expansion.
“Together with KDDI, we are thrilled to take this significant step and strengthen our presence in Japan,” said Junehee Lee, Executive Vice President, Head of Global Sales & Marketing, Networks Business at Samsung Electronics.
The South Korean tech giant noted that it’s bringing vRAN 3.0 solution, a full suite of O-RAN compliant radios supporting low- and mid-bands including advanced Massive MIMO radios and third-party radio integration support.
Kazuyuki Yoshimura, Chief Technology Officer of KDDI: “Today’s announcement represents KDDI’s dedication to bringing innovative technologies to Japan. We are proud to deliver a cutting-edge and reliable radio access network.”
Key features of Samsung CognitiV Networks Operations Suite (NOS) will also be offered. The features streamline the onboarding, deployment, and operation processes, enabling KDDI to transform its widespread network efficiently.
Beyond that Samsung and KDDI will expand the reach of Open RAN in the coming years. For now, KDDI’s Open RAN network will feature enhanced capabilities for improved energy efficiency, optimized performance, and intelligent automation.
Samsung Wallet getting an instant Tap to Transfer feature for Galaxy users. The latest addition unlocks instant and seamless money transfer. This move reiterates Samsung’s commitment to upscaling the Galaxy ecosystem.
The Tap to Transfer feature allows users of Samsung Wallet on Galaxy phones to instantly transfer money by tapping the backs of their devices together. The transfer process is powered by NFC technology embedded in Galaxy phones.
Samsung confirmed that the feature will be gradually supported through app updates in Samsung Wallet. The Tap to Transfer feature eliminates the need to ask for or input the recipient’s account number during transfers.
This seamless process will help Galaxy users save time and effort as well as reduce the risk of sending money to the wrong account. It’s an answer to Apple iOS 18’s Tap to Cash feature, which allows users to transfer funds with nearby ecosystem devices.
Samsung Wallet allows the recipient to set a representative account for receiving funds and can receive ‘Tap to Transfer’ payments even when their Galaxy’s screen is off – even without opening the Samsung Wallet app.
Here’s how it works:
The user who wants to send money enters the password for their registered account in Samsung Wallet, inputs the transfer amount, then taps their phone against the recipient’s phone and completes the transfer through the default unlock method.
The recipient’s account number transmitted during the ‘Tap to Transfer’ process is encrypted and sent to the sender. Instead of displaying the full account number, only the last four digits of the recipient’s mobile phone number are shown.
The feature is currently available in South Korea and supported by Woori Bank.
Samsung could use the next-gen display across the Galaxy S25 series. A limited number of users reported display graininess issues on the Galaxy S24 Ultra, which is reportedly eliminated in the upcoming Galaxy S25 series.
IceUniverse reports Galaxy S25 series resolves the display graininess issue from the S24 Ultra. The tipster mentioned that the “Galaxy S25 series screen is great.” It suggests the inclusion of an upgraded screen tech in the flagships.
Pixel 9 series debuted Samsung’s best display technology. Industry expects that the Korean tech giant will now expand the cutting-edge screen to its upcoming flagships including the Galaxy S25, Galaxy S25 Plus, and Galaxy S25 Ultra.
Upgraded display is usually meant to offer vibrant colors while keeping efficiency. However, it’s a big development for Samsung consumers as the alleged graininess issue from the Galaxy S24 Ultra is finally eliminated.
Galaxy S25 series screen is great
Getrid of the screen graininess problem in S24.— ICE UNIVERSE (@UniverseIce) October 10, 2024
Samsung is ensuring the upcoming flagships won’t lag in any way. From processor and memory to display and camera, pro-grade specifications coming to the next-gen Galaxy S line. The company could launch the S25 series in January next year.
Galaxy S24 Ultra screen graininess
Some S24 Ultra owners notice a grainy, pixelated, or textured appearance on the display. It occurs the most in certain lighting conditions or when viewing darker colors at low brightness. The anti-reflective glass was also suspected to be blamed.
However, graininess in screens could be caused by several factors such as OLED pixel arrangement, brightness levels, and software calibration. Samsung seemingly heard consumer feedback and improved the screen hardware.