Park Seo-Bo funds $1 million Gwangju Biennale art prize for next decade

A $1 million art prize will be awarded at the Gwangju Biennale for the next ten editions, funded by artist Park Seo-Bo through the GIZI Foundation. The Gwangju Biennale Foundation and GIZI Foundation jointly announced the Gwangju Biennale Park Seo-Bo Art Prize, with the first presentation scheduled for the 14th Gwangju Biennale in 2023. Park Seo-Bo, a founding figure of the Dansaekhwa movement, expressed his hope that the award would support artists facing challenges and encourage their positive societal impact. The GIZI Foundation, an artist incubator established in 2019, has committed to providing the prize money until 2042. Selection of recipients will be made by a jury comprising both local and international art experts.