The partnership, entitled 'The Hyundai Project', has reaped rewards with the acquisition of Robert Irwin’s Miracle Mile sculpture and James Turrell’s Light Rainfall installation.
Hyundai will act as the presenting sponsor of numerous upcoming exhibitions, including November exhibition Diana Thater: The Sympathetic Imagination. The Hyundai Project will also support LACMA’s Art + Technology Lab, which offers public programmes in the two academic fields.
With Hyundai’s support, the museum’s creators will create three exhibitions over the next 10 years that examine key aspects of Korean art. The first will examine the country’s calligraphy history and will take place in 2018, with two others planned for 2022 and 2024.
Euisun Chung, Hyundai Motor Company vice chairman, said: "Art is a creative expression of human values that transcends age, gender, race, and culture. The Hyundai Project at LACMA seeks to support global art communities in the areas of technology and Korean art.
"I am confident that this collaborative partnership will realise mutual objectives and bolster a deeper understanding of people, culture, and our environment."
Michael Govan, LACMA chief executive, added: "Hyundai’s partnership with LACMA is significant not only due to the longevity of its commitment, but because of its innovative approach to supporting two critically important fields."
Hyundai has previously worked with the Tate Modern in London and the National Museum of Modern and Contemporary Art in Seoul, South Korea.
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