GS Group establishes cultural foundation to boost art

From left: Kim & Chang law firm attorney Lee Joon-myung, Eugene H J Bang, former CEO of DBS Bank Korea, marketing and public relations head of the Korean National Ballet Kim Hyun-ah, GS Group Chairman Huh Tae-soo, Rha Wan-bae, former vice chairman of GS Energy, and GS Holdings Chairman & Chief Executive Officer Hong Soon-ky pose for a photo at the inaugural meeting of the GS Cultural Foundation at GS Tower in southern Seoul on July 3. (GS Group)

South Korean energy, retail and construction conglomerate GS Group announced Thursday that it has officially launched the GS Cultural Foundation, a move aimed at enriching the nation's cultural and artistic landscape.

Chaired by GS Group Chairman Huh Tae-soo, the board comprises prominent figures including Kang Sue-jin, artistic director of the Korean National Ballet, Eugene H J Bang, former head of DBS Bank Korea, Rha Wan-bae, former vice chairman of GS Energy, and Lee Joon-myung, an attorney from prominent law firm Kim & Chang.

GS Group said the diverse expertise of the board will help guide the foundation's mission to enhance the accessibility and quality of cultural experiences nationwide.

A centerpiece of the GS Cultural Foundation's efforts will be the revival of the former LG Arts Center in Yeoksam-dong, southern Seoul, a space with a rich history of hosting acclaimed performances. Now under GS’ stewardship, the venue is undergoing extensive renovations and is set to reopen early next year as a modern, 1,200-seat cultural hub. The revamped center will serve as a dynamic platform for a wide array of performances, including dance, music, theater, musicals and multimedia productions.

“The LG Arts Center was a beloved cultural space, and we have waited a long time to bring it back to life,” Chairman Huh Tae-soo said. “We are committed to making this venue even more cherished by the public through blending tradition with technology.”

The foundation announced plans to showcase its own curated programs for approximately three months each year, with eight months dedicated to hosting a diverse range of external performances, including popular musicals and plays, to ensure broad public engagement.

“We have the opportunity to showcase world-class performances in a venue that is being redesigned to meet the needs of contemporary audiences and artists alike,” Kang said.

By Park Li-na(linapark@heraldcorp.com)