The global art community is turning its attention to Seoul this September. Hundreds of galleries, from emerging to mega, will gather in the city to showcase a wide array of artworks. However, with the ongoing downturn in the art market, it remains uncertain whether these exhibitions will translate into actual sales.
On September 2, the art fairs Frieze Seoul and Kiaf Seoul will kick off at COEX, following a joint press conference held on August 19 at the Westin Chosun Hotel in Seoul's Sogong-dong, where key artworks and programs were unveiled.
This year marks the fifth edition of Frieze Seoul, featuring 133 galleries from 30 countries and regions. Renowned international galleries such as Gagosian, Hauser & Wirth, David Zwirner, Pace, White Cube, Lehmann Maupin, and Thaddaeus Ropac will participate, alongside major domestic galleries like Gallery Hyundai, International Gallery, Gana Art, and PKM Gallery.
These galleries will highlight artists currently exhibiting or set to exhibit in Korea. Gagosian will present a solo exhibition of British artist Damien Hirst, coinciding with his major retrospective at the National Museum of Modern and Contemporary Art. White Cube will showcase late works by Park Seo-bo in conjunction with the opening of the Park Seo-bo Museum, while Pace Gallery will feature works by Yoo Youngkuk, whose retrospective is currently on display at the Seoul Museum of Art. Lehmann Maupin will present works by Seo Do-ho, who has a large exhibition planned at the National Museum of Modern and Contemporary Art, and Gallery Hyundai will showcase pieces by Kim Chang-yeul, with International Gallery featuring works by Ha Jong-hyun and Kim Yoon-shin.
Patrick Lee, director of Frieze Seoul, stated, “Our goal is to bring together world-class galleries and art professionals in Seoul, connecting the art of Korea and the Asia-Pacific region with the global stage.”
Kiaf Seoul, now in its 25th year, will feature 175 galleries from 18 countries, including 127 from South Korea. This year, Kiaf has introduced a creative director system, with Jeong Gu-ho overseeing branding, spatial design, and special exhibition planning.
The key concern remains sales. While the stock market's strong performance in the first half of the year raised hopes for a recovery in the art market, recent declines have cast doubt on this outlook. Lee Sung-hoon, president of the Korea Galleries Association, remarked, “We had high expectations due to the stock market's activity in the first half, but many have suffered losses due to various economic factors, which may have dampened the effects of the boom.”
However, there is a belief that the base of collectors is expanding. Lee noted, “The era of speculative collectors is nearly over, and more families are enjoying art as a part of their lives,” viewing the increase in art enthusiasts as a positive sign. He cautiously added, “I expect the number of collectors to grow, along with sales.”
Another point of interest in the art community is the collaboration between Kiaf Seoul and Frieze Seoul. Due to renovations at COEX, the two events will be held at separate venues starting next year, with Kiaf moving to DDP. Lee emphasized that an MOU has been signed to maintain their cooperative relationship, including joint ticket sales, although discussions are ongoing regarding how they will collaborate in light of the venue changes.
* This article has been translated by AI.
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