Frieze Art Fair makes Asian debut in Seoul, tapping hot South Korean market

Record ID: 1687173

  • Title: Frieze Art Fair makes Asian debut in Seoul, tapping hot South Korean market
  • Date: 2nd September 2022
  • Summary: (SOUNDBITE) (Korean) 36-YEAR-OLD SOUTH KOREAN ART COLLECTOR, LEE YOUNG-SANG, SAYING: “I am so excited that well-known good galleries are coming to Seoul all together, as the global art fair Frieze is opening in Seoul, and we can also see all of the artworks in one place and have a chance to purchase them. So, I and other collectors studied about artists and galleries and saved money to buy an artwork.” VARIOUS OF ROY LICHTENSTEIN'S "PROFILE HEAD" ON DISPLAY HUGH HAYDEN'S "RED, WHITE, AND BLONDE" ON DISPLAY PEOPLE WALKING AROUND THE ART FAIR VARIOUS OF ANTONY GORMLEY'S "OPEN HOLD" ON DISPLAY (SOUNDBITE) (English) FOUNDER OF THADDAEUS ROPAC GALLERY, THADDAEUS ROPAC, SAYING: "Frieze week will become something which will be much more than only the art fair. I think the museums will do some of their most important shows, curators will really exchange their ideas with European and American curators, and artists can show their works. So for us to be here is to bring, of course, to introduce our artists to the Korean audience and show Frieze to an international audience, but also to learn about Korean arts." OSAMU MORI’S “3MMM – RIVALRY” MAN TAKING PICTURES OSAMU MORI’S “3MMM – RIVALRY” VARIOUS OF PEOPLE LOOKING AT SUH DO-HO'S "HUB-1, KITCHEN LOBBY, 185 COMPTONS LANE, HORSHAM, UNITED KINGDOM"
  • Embargoed: 16th September 2022 14:29
  • Keywords: Frieze Seoul South Korea art fair contemporary art
  • Location: SEOUL, SOUTH KOREA
  • City: SEOUL, SOUTH KOREA
  • Country: South Korea
  • Topics: Art,Asia / Pacific,Arts/Culture/Entertainment
  • Reuters ID: LVA005224502092022RP1
  • Aspect Ratio: 16:9
  • Story Text: Art collectors and visitors packed into Seoul's COEX convention centre on Friday (September 2) as the city became the first in Asia to host the Frieze Art Fair, which features works from over 110 galleries worldwide.
    In a nod to South Korea's millennials-backed art market, which is set for another record-breaking year, the Fair - a closely-watched showcase of top works by contemporary artists - moved for the first time beyond its traditional venues of London, New York, and Los Angeles.
    An art hub focused on post-war and contemporary works, South Korea last year overtook Germany to rank the fifth largest market, according to bank UBS and Art Basel's Art Market Report.
    Sales grew 180% to a record 922 billion won ($680 million), Korea Arts Management Service (KAMS) data showed. Reasons for the boom include a growing interest among millennials, who often see art as an investment opportunity, as well as a favourable tax regime.
    Frieze Seoul will be held until next Monday (September 5), along with Kiaf Seoul, a South Korea-based global art fair run by the Galleries Association of Korea.
    (Production: Daewoung Kim, Minwoo Park, Olga Vyshnevska)
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2022. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register