“Korea has long awaited global recognition to demonstrate its strengths — where a unique, rich art history not only exists but also intersects with contemporary art discourses,” says Hwasun Lee, director of Barakat Contemporary, which opened in Seoul in 2016.
Since the launch of Frieze Seoul in 2022, global interest in the Korean art scene has surged, with galleries both opening spaces in Seoul and taking Korean artists on to their roster to show around the world. But as economic trouble shakes the global art market, local players — including fairs, biennales and the government — are working more cohesively to organise events, develop the scene’s brand and cultivate a broader audience.
The Korean art market can certainly stand to benefit from these efforts, given its vulnerability to rising interest rates and the economic downturn. Sang-Hoon Kim, editor of the Korea Art Market 2023 report, predicts relatively conservative transactions with more rational pricing this year, given the global economic situation and geopolitical uncertainties. However, Kim also expects that the downturn will not severely affect the market: rich people may pause buying, but they won’t cease. Rather, they “view the downturn as an opportunity, and the Korean market’s baseline has been set higher after the pandemic.”
Patrick Lee, director of Frieze Seoul, says the market’s tempo has changed: “Good works are selling. It’s just the lack of urgency. Our job is to ensure that during the fair, we have a great audience — those collectors and institutions.” This year’s most notable addition to the fair is Frieze Live, an on-site programme curated by Jeyun Moon featuring performances by seven artists exploring the potential of poetry; Jesse Chun, for example, will examine non-linear language and traditional Korean folk dance.
Part of Lee’s efforts involve attracting younger collectors. The Focus Asia section, highlighting 10 galleries established after 2012, including A-Lounge, Cylinder and G Gallery, presents “more challenging, installation-based works at relatively accessible price points”, says Lee. The section aims to enable international collectors to discover emerging Asian artists and facilitate direct, lasting conversations between galleries and eager-to-learn young collectors.
Pricier artworks are on firmer footing too, according to Pace Gallery, which opened a Seoul space in 2017. Director Youngjoo Lee notes that the influx of foreign galleries and heightened international focus on Korea has not only spurred competition to host high-quality exhibitions — in terms of artist selection and exhibition design — but has also established “works in the $100,000-$500,000 range and high-potential blue-chip artists” as reliable parts of the scene. This indicates that consumer behaviour is aligning more closely with international trends.
Local galleries are now gaining global footholds too. The artist-run gallery Cylinder, which opened its first space in 2020 in Bongcheon-dong, an old university neighbourhood, has recently experienced a rapid rise in recognition, particularly after jointly winning the Frieze Seoul stand prize last year. Founder Dooyong Ro says that the growing global interest in young Korean artists has not only brought attention to Seoul but helped his gallery expand its presence abroad. At the Liste art fair in Basel this year, Cylinder sold works by Jongwan Jang and Rim Park to collectors from Mexico, Switzerland, Hungary and the US.
This year, the Korean government’s efforts to boost the art market and create a sustainable ecosystem have been evident. In July, the Art Promotion Act took effect, introducing measures such as the Warranty for Buyers, where galleries have to give buyers a certificate of authenticity, and an artist’s resale right, aligning with global standards.
There have already been attempts by the public sector to attract overseas visitors during Frieze Week; last year, Seoul City organised Seoul Art Week, and the Ministry of Culture, Sports and Tourism (MCST) held Korea Art Week. But this year marks a more co-ordinated approach. In April, the MCST, along with Gwangju City, Busan City and Seoul City, announced the unified brand Korea Art Festival. Their goal is to go beyond simple joint promotions and museum discounts by fostering closer co-operation between the private sector and government agencies, partnering with more than 300 cultural organisations and aligning the programming and schedules of exhibitions and events across the nation.
Frieze Seoul has especially benefited from the increased enthusiasm of public and institutional sectors. “In the first year, it was difficult to even arrange late-night opening hours for museums in Seoul, but this year, Frieze is hosting the Busan biennale’s after-party and inviting the biennale’s curators to our talk programmes,” says Lee.
This year the Busan biennale opened on August 17, two weeks earlier than usual. While this shift is not officially linked to government policy, an official suggested that discussions between the event’s hosts and the MCST probably influenced the decision, aligning it with Frieze. In addition, government-led events such as Dive into Korean Art, which invites international curators and critics for studio visits, have expanded beyond Seoul to include Busan and Gwangju, covering both biennales.
One of the notable public efforts to create a foundation for further growth comes from the Korea Arts Management Service (KAMS), a government-affiliated institution dedicated to the sustainable development of the Korean art scene through international exchange. KAMS aims not only to open global channels for local galleries — such as sponsoring ThisWeekendRoom to secure a space at Frieze’s gallery in London, No 9 Cork Street, this autumn — but also to support overseas exhibitions and English publications for Korean artists, laying the foundation for long-term discourse.
Despite government support, the future of Korea’s art scene remains in the early days of international prominence and long-term self-sufficiency. As art critic and former museum director Jang Un Kim suggests, the path forward may lie in “clearly defined goals set by the government and a focus on enhancing the quality of exhibitions”, ensuring that today’s foundations will support sustainable growth tomorrow.
Frieze Seoul runs September 4-7, frieze.com
