By Yoon Ja-young
MBK Partners' co-founder and partner Kim Byung-ju is donating $10 million to the Metropolitan Museum of Art in New York, the museum announced Tuesday. The museum will name a gallery after Kim and his wife, which will be the first gallery in the museum named after a person of Korean descent.
According to the museum, Kim, who founded and heads North Asia's leading private equity firm, has pledged $10 million to support the renovation of the Oscar L. Tang and H.M. Agnes Hsu-Tang Wing for modern and contemporary art at the museum. It plans to name a gallery in the new wing, the Michael B. Kim and Kyung Ah Park Gallery, after Kim and his wife.
The renovation follows the museum's plan announced last year, which will create 80,000 square feet of galleries and public space by fully reimagining the current modern and contemporary galleries, led by architect Frida Escobedo.
"We are enormously grateful to Michael Kim for his exceptional generosity, which will contribute to a landmark next chapter for The Met's presentation of the art of the 20th century and beyond," said Daniel H. Weiss, the president and CEO.
"At a moment of ever-increasing interest in the contemporary art world ― and especially in the powerful Korean contemporary art scene ― Michael Kim's gift is a strong signal of support for a truly global representation of the art of the 20th and 21st centuries at The Met," added Marina Kellen French Director Max Hollein.
Kim said he considers it an honor to contribute to the museum's future with his gift, "particularly in a venue that will bring together contemporary art and visitors, from around the world."
Kim has served as an elective trustee at the museum since 2017 and is a member of several committees, including the Acquisitions, Human Resource and Investment Committees, as well as the Asian Art Visiting Committee.
MBK Partners' co-founder and partner Kim Byung-ju is donating $10 million to the Metropolitan Museum of Art in New York, the museum announced Tuesday. The museum will name a gallery after Kim and his wife, which will be the first gallery in the museum named after a person of Korean descent.
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| MBK Partners Chairman Kim Byung-ju / Korea Times file |
The renovation follows the museum's plan announced last year, which will create 80,000 square feet of galleries and public space by fully reimagining the current modern and contemporary galleries, led by architect Frida Escobedo.
"We are enormously grateful to Michael Kim for his exceptional generosity, which will contribute to a landmark next chapter for The Met's presentation of the art of the 20th century and beyond," said Daniel H. Weiss, the president and CEO.
"At a moment of ever-increasing interest in the contemporary art world ― and especially in the powerful Korean contemporary art scene ― Michael Kim's gift is a strong signal of support for a truly global representation of the art of the 20th and 21st centuries at The Met," added Marina Kellen French Director Max Hollein.
Kim said he considers it an honor to contribute to the museum's future with his gift, "particularly in a venue that will bring together contemporary art and visitors, from around the world."
Kim has served as an elective trustee at the museum since 2017 and is a member of several committees, including the Acquisitions, Human Resource and Investment Committees, as well as the Asian Art Visiting Committee.
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