Kim Byung-joo, Chairman of MBK Partners, Donates 13.7 Billion KRW to the Metropolitan Museum of Art in the US

"Honored to Contribute"
Renovation of Modern & Contemporary Exhibition Hall 'Oscar Tang Wing'

Byungjoo Kim, Chairman of MBK Partners

[Asia Economy Reporter Kwangho Lee] Kim Byung-joo, chairman of MBK Partners, Asia's largest private equity fund (PEF) management firm, is donating $10 million (approximately 13.7 billion KRW) to the Metropolitan Museum of Art in New York.

The Metropolitan Museum of Art announced on the 6th (local time) that Chairman Kim has pledged a special donation of $10 million for the renovation of the modern and contemporary exhibition hall, the ‘Oscar Tang Wing’.

In honor of Chairman Kim’s donation, the Metropolitan Museum of Art decided to name one of the galleries in this exhibition hall the ‘Michael B. Kim and Kyung Ah Park Gallery,’ after Chairman Kim and his wife, Park Kyung-ah.

Last November, the Metropolitan Museum of Art announced plans to reinterpret its modern and contemporary exhibition halls and galleries. This project, led by world-renowned architect Frida Escobedo, covers an area of 80,000 square feet.

Daniel H. Weiss, CEO of the Metropolitan Museum of Art, said, “We sincerely thank Chairman Kim Byung-joo for his support of this monumental project that opens a new chapter for 20th and 21st-century and contemporary artworks.”

Chairman Kim Byung-joo said, “The Metropolitan Museum of Art is a global space that connects art beyond time and space. As a long-time supporter of the museum and its mission, I am honored to contribute to the museum’s future and the place where visitors from around the world can gather contemporary art in one location.”

Kim Byung-joo has been an elected board member of the Metropolitan Museum of Art since 2017. As the first Korean-American board member of the Metropolitan Museum of Art, he is also a member of the Asia Art Visiting Committee as well as the acquisition, personnel, and investment committees. Prior to this donation, Chairman Kim pledged 30 billion KRW last year for the construction of the Seoul Metropolitan Library (Seodaemun). The library, with a total floor area of 9,000 square meters, is scheduled to be completed by February 2027.

This content was produced with the assistance of AI translation services.