Visitors to Tate Modern can look forward to a new series of specially commissioned Turbine Hall installations funded by a major 11-year partnership between Tate and South Korean automakers Hyundai.
The Hyundai Commission will see a different artwork transform the iconic public space annually from autumn 2015, giving visitors the opportunity to view unique works from international contemporary artists.
Hyundai will also work with Tates Asia-Pacific Acquisition Committee to acquire nine key works by South Korean artist Nam June Paik.
The acquisition of Paiks work, which examines humanitys relationship with technology through various mediums, reflects Tates aim to build a larger platform for international artists in its collection.
The partnership, confirmed until 2025, is the longest initial commitment from a corporate sponsor in Tates history.
Tate director Nicholas Serota said: Hyundais commitment to Tate will give us an unprecedented opportunity to plan for the future, and will secure a decade of exciting new Turbine Hall commissions for all Tate Moderns visitors.
Admission to the Hyundai Commission is free.