A total of 120 businesses and 120 individual artists or ensembles joined hands on Tuesday to nurture the arts as part of the Korean Mecenat program at a ceremony held at the Samcheonggak restaurant near downtown Seoul.

According to the Korean Business Council for the Arts, the companies, including 47 new council members, will provide 4.7 billion won ($4.4 million) to artists ranging from Korean traditional music groups to actors and dancers. They will participate in the “Arts & Business” program for one year, exchanging ideas and contributing to marketing, managerial and corporate social responsibility programs.

Among the 120 sponsors, 30 are large corporations, including Hyundai Motor, Amway, Doosan Infracore, Hanwha Life and LG Chemical. They are sponsoring the National Gugak Center, Korea Sculptors’ Association, Poolim Ensemble, Andiemusik Philharmonia and Cheongchun Story theater troupe, respectively.

Some longstanding members, such as Byuksan Power, Seun Steel, BIP Industries and others will also continue their support of Sejong Soloists, the Busan Orchestra of Gayageum and the Busan Symphony Orchestra.

“The marriage of artists and business groups creates synergy as it can be a great marketing tool, offering creative managerial opportunities as well as contributing to the development of art. The artists, on the other hand, can focus on their work in a more comfortable environment,” the organization said. “This year we have seen a remarkable increase in the participation of small- and medium-sized companies, which proves that more companies are understanding the importance of support for the arts,” it said.

By Bae Ji-sook (baejisook@heraldcorp.com)