The Korea Artist Prize has returned after the National Museum of Modern and Contemporary Art, Korea pledged to improve the 11-year-old annual artist award, strengthening the judge system and curation in order to present finalist artists’ practices in a deeper and more holistic way.

The four artists who were announced as finalists for the prize -- Kwon Byung-jun, Gala Porras-Kim, Lee Kang-seung and Jun So-jung – unveiled their recent works at the exhibition, “Korea Artist Prize 2023,” at the MMCA Seoul, which will run through March 31, 2024. The exhibition opened Oct. 20.

The winner of the prize will be announced in February 2024 with prize money worth 60 million won ($45,572). The other three finalists will receive 50 million won each.

The content of the exhibition were improved by presenting each artist’s previous works along with the newly created pieces for the exhibition to help viewers understand the finalists' artistic practices in greater depth.

The museum will host workshops early next year, inviting the public, selected artists and judges to facilitate discussions on Korea’s contemporary art beyond awarding the winner of the exhibition.