Frieze, Kiaf Seoul point to Korea's recovering art market
In the art world, sales are often the barometer of a successful art fair. A successful fair is typically measured by a handful of blockbuster deals signed during the event. This year’s Frieze Seoul and Kiaf Seoul, which closed on Sunday, sent a more nuanced message. The fairs did not see any ultra-high-value sales like those that made headlines during Frieze Seoul’s 2022 debut, but they sent a…
The art world often gauges the success of a fair through significant sales during the event. The concluding Frieze Seoul and Kiaf Seoul fairs, however, presented a more subtle indication of Korea's art market revival. Unlike the headline-making ultra-high-value transactions that marked Frieze Seoul's inaugural 2022 edition, these fairs still signaled a positive shift in Korea's art landscape, characterized by a wider array of buyers, price tiers, and artists.
The fifth Frieze Seoul, hosted at Coex from September 2-5, drew over 70,000 attendees from 54 countries and regions, marking its most diverse international audience to date, according to the event organizers. Additionally, 178 museums and institutional representatives from 25 countries participated, shattering attendance records.
Similarly, the 25th edition of homegrown Kiaf Seoul welcomed an estimated 80,000 visitors, who engaged with 175 galleries from 18 countries. Organizers reported a 5 to 10 percent increase in attendance during the fair's opening days on Wednesday and Thursday.
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- Frieze, Kiaf Seoul point to Korea's recovering art market koreatimes.co.kr
