She currently lives in Greece, where she serves as President of Magna Marine Inc., a dry bulk shipping company. Her dedicated engagement with art collecting began in 2006, with the aim of building a multifaceted collection that reflects both her personal interests and her belief in the importance of artistic expression. At the same time, she actively supports major art and cultural institutions, such as the British Museum (Contemporary and Modern Middle Eastern Art Acquisition Group), the Delfina Foundation (Board of Trustees) and Tate (International Council). She also serves on the boards of the Dia Art Foundation (New York), the National Gallery of Greece (Athens) and Northeastern University (Boston). During November 2018 Irene Y. Panagopoulos was in residence at Delfina Foundation, as part of the thematic programme Collecting as Practice. Furthermore, she has joined the Honorary Committee of We Dream Under The Same Sky, a philanthropic initiative supporting displaced populations through the arts.

Over the years, she has contributed to numerous contemporary art initiatives, including exhibitions at the Museum of Cycladic Art and the National Museum of Contemporary Art (EMST) in Athens, the Greek Pavilion at the Venice Biennale, and Documenta.