LG Group said Thursday it has partnered with the Guggenheim Museum, a world-renowned modern and contemporary art museum in New York, to spur innovation in the art world using its technological prowess.

The nation’s fourth-largest conglomerate plans to discover and support the convergence of advanced technology and art, and also financially support emerging innovative artists through this partnership.

In collaboration with the Guggenheim Museum which is located in New York City, Abu Dhabi, Bilbao, and Venetia, LG will be included on the museum’s tickets, brochures, and websites to enhance the brand’s creative and innovative image in the global market.

The group’s key affiliates, including LG Corp., LG Electronics, and LG Display, will be taking part in this partnership.

LG Corp. will establish the LG Guggenheim Award to award $100,000 to artists that introduce innovative art pieces every spring.

The winners will be chosen by an international committee that consists of renowned museum directors, curators, scholars, and artists starting next spring.

LG Electronics will focus on finding and nurturing new talented artists by selecting an Emerging Artist every fall and providing them with the chance to utilize LG’s advanced technology such as next-generation displays to make their imagination into creation.

LG’s OLED, considered the next generation of displays, can accurately deliver exquisite, realistic details and colors without distortion, just as an artist intends to, according to LG Display.

LG Display also sponsored this year’s Guggenheim Young Collectors Council Party held in New York City.

At this year’s party that kicked off on Wednesday, LG Display had a hologram photo wall projected with its nine 55-inch transparent OLEDs, and a DJ booth made with an 83-inch OLED TV.

LG Display is the world’s only manufacturer of large-size transparent OLED displays.

“To a promising artist who will show a new perspective on how technology changes society and how society affects technological development, the LG-Guggenheim partnership will mean a lot,” said Naomi Beckwith, the chief curator of the Guggenheim Museum.

“We will help technology become a facilitator and mediator for expanding experience and expression of art,” said Seol Park, Head of Branding, LG Corp.