South Korean conglomerate, Hawha and French modern art museum Centre Pompidou have signed a formal agreement to create an exhibition space in 63 SQUARE, a landmark skyscraper located in central Seoul. 

Hanwha announced on Friday that it clinched the contract on Thursday. The move came after the two sides adopted a partnership memorandum of understanding earlier on March 19 in Paris. 

Under the accord, the exhibition space dubbed “Centre Pompidou Hanwha Seoul” will open in October of 2025 after an outbuilding of 63 SQUARE undergoes remodeling. 

Hanwha will be able to operate the exhibits for four years.

Hanwha is set to hold two exhibitions every year featuring masterpieces by renowned artists of the 20th and 21st centuries from the Centre Pompidou’s collection.