Hyundai Card Vice Chairman Ted Chung has been named an honorary trustee of the Museum of Modern Art (MoMA) in New York, recognizing his two decades of efforts to strengthen cultural ties between South Korea and the international art community.
Hyundai Card announced the appointment on Monday, describing it as recognition of Chung’s contributions to expanding opportunities for Korean artists and promoting international cultural exchange.
The honorary trustee position is granted to individuals who have contributed to the museum’s development through their expertise and global influence. Honorary trustees provide advice on the museum’s long-term direction and major strategic initiatives.
Chung’s relationship with MoMA began in 2006, when Hyundai Card started positioning arts and culture as a central part of its corporate strategy and expanding its engagement with international art institutions.
Over the following two decades, the partnership evolved beyond conventional exhibition sponsorship to include programs designed to introduce Korean artists to global audiences and deepen international understanding of Korean contemporary art.
Among its initiatives, Hyundai Card supported solo exhibitions by Korean artists Haegue Yang and Ayoung Kim at MoMA and its contemporary art affiliate, MoMA PS1.
Hyundai Card has sponsored more than 100 exhibitions and programs organized in partnership with MoMA and in Seoul.
When MoMA reopened following a major expansion in 2019, Hyundai Card became the inaugural sponsor of its media and performance program, further broadening the collaboration.
The company also opened the world’s first MoMA Bookstore in Seoul and organized curator exchange programs to strengthen connections between the museum and Korean audiences.
South Korea has since become an increasingly important market for MoMA, accounting for the largest share of its international visitors this year.
MoMA Director Christophe Cherix credited Chung with playing an exceptional role in expanding the museum’s presence in South Korea over the past 20 years.
Cherix said Chung has helped create opportunities for MoMA’s curators and visitors to develop a deeper understanding of Korean art and artists while encouraging closer cultural exchange.
Chung described the relationship between Hyundai Card and the arts as mutually beneficial rather than a conventional corporate sponsorship arrangement.
He said Hyundai Card views art not simply as something to support financially, but as a source of creativity and innovation that contributes to the company’s own development.
By Kwon Seon-woo and Minu Kim
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