Lotte Foundation for Arts wins top prize at Mecenat Awards
The Lotte Foundation for Arts, the cultural foundation of Lotte Group, won the grand prize at this year’s Mecenat Awards for its support of classical music and contemporary art, the foundation said Wednesday. The foundation received the award, which comes with a presidential citation, at the 27th Mecenat Awards ceremony held Tuesday at The Westin Josun Seoul hotel. “Mecenat” is a French term for…
The Lotte Foundation for Arts, the cultural arm of the Lotte Group, secured the top honor at this year's prestigious Mecenat Awards. The foundation received the grand prize, accompanied by a presidential citation, at the 27th annual Mecenat Awards ceremony held on Tuesday at the luxurious Westin Josun hotel in Seoul. "Mecenat," a French term, refers to corporate patronage of the arts.
Established by Lotte Group Chairman Shin Dong-bin in 2015, the Lotte Foundation for Arts began with a substantial investment of 20 billion won ($14.7 million), sourced equally from Shin's personal wealth and three affiliated Lotte companies. Since its inception, the foundation has committed approximately 200 billion won to the support of arts and culture in South Korea.
The foundation's commitment to the arts is evident in its operations, which include the Lotte Concert Hall and the Lotte Museum of Art, both situated within the expansive Lotte World Tower complex in Seoul's Songpa District. As the sole foundation founded by a Korean corporation that manages both a concert hall and an art museum, the Lotte Foundation for Arts has made significant contributions to the cultural landscape of the country.
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- Lotte Foundation for Arts wins top prize at Mecenat Awards koreatimes.co.kr
