CLEAN : Tate announces long-term partnership with

The video discusses the importance of sponsorships, highlighting Hyundai's 10-year commitment as a sign of returning business confidence. It emphasizes the role of government subsidies as a foundation for attracting sponsorships that support, rather than change, existing programs. The sponsorship enables Tate to acquire works by Nam June Paik, a pioneer in video and new media art.

What does the speaker imply about business confidence in relation to the sponsorship?

Who is Nam June Paik and why is his work significant in the context of this sponsorship?