Gallery or Asset Manager? ... Life Asset Management Draws Attention for Collecting Works from Ugukwon to Yullia

"Purchasing and Managing Art, Same from Value Investment Perspective"
Ugukwon Bought 'Don Quixote' 3 Years Ago
Yulia Aiosiljon Bought 'Escaping' in April
Nam Du-woo Co-CEO Known as Art Enthusiast

The 'Escaping' artwork by Yulia Iosilzon, purchased this year by Lee Chaewon, Chairman of Life Asset Management. It is displayed at the entrance of Life Asset Management.

[Asia Economy Reporter Hwang Yoon-joo] "This is a work by Yulia Aiosiljon. I brought it here because I wanted to create a space where people can escape from boring daily life and feel art. It's not just a space focused on money, but also a commitment to becoming an asset management company that recognizes value (art)."

On the 2nd, the chairman of Life Asset Management, Lee Chaewon, said this to a reporter visiting Life Asset Management located in the Yeouido IFC Building. When visiting Life Asset Management, one feels as if they have entered a gallery. Visitors are greeted by a large canvas measuring 140 cm wide and 170 cm tall, featuring a dreamy painting style and vivid colors. It is a work titled ‘Escaping’ by Yulia Aiosiljon, who held her first solo exhibition in Korea through the Hannam-dong gallery 'Foundry Seoul' last April.

Chaewon Lee, Chairman of Life Asset Management / Photo by Hyunmin Kim kimhyun81@

Life Asset Management has recently attracted attention thanks to the paintings it purchased. Although it is famous for 'value investing' in Yeouido, it is known in the art industry as an asset management company that carefully collects works by focusing on emerging artists. This is thanks to Chairman Lee Chaewon, a 'first generation value investor,' and Co-CEO Nam Do-woo.

Co-CEO Nam is well-known as an art enthusiast. Chairman Lee began seriously purchasing paintings while spending time with Co-CEO Nam. Originally, Chairman Lee was a collector of genre books such as martial arts novels.

Chairman Lee said, "Yulia Aiosiljon's works deal with mythical themes set against the night. When looking at the purchased work (Escaping), it feels like reason falls asleep and the body escapes into a quiet magical atmosphere that restores itself." He added with a smile, "To add, I bought it with the meaning of becoming an asset management company that consistently delivers good returns, escaping from bad market conditions."

Passing by Yulia Aiosiljon’s painting on the way to the chairman’s office, there is a work by Korea’s leading artist Woo Guk-won. It is titled ‘Don Quixote.’

Chairman Lee explained, "Co-CEO Nam Do-woo liked artist Woo Guk-won from early on, and the moment I saw this work at a solo exhibition, I resonated with it. I purchased it with the desire to create an asset management company that, like Don Quixote, is not afraid of adventure and achieves good results through contrarian thinking."

It is known that Co-CEO Nam purchased the ‘Don Quixote’ work three years ago for 18 million KRW. Currently, Woo Guk-won’s works have become the hottest in the market, fetching 190 million KRW at domestic auctions and 300 million KRW at Christie’s Hong Kong Day Sale.

A traditional Oriental painting personally drawn and gifted by Lee Chaewon, Chairwoman of Life Asset Management. The dragon is holding the 'Life Asset Management' logo instead of a Yeouiju pearl. (Photo by Life Asset Management)

Chairman Lee emphasized that he did not purchase the works solely based on investment value. His daughter also majored in Oriental painting. Between the works of Yulia Aiosiljon and Woo Guk-won hangs a piece by his daughter. It was a gift from his daughter wishing for success when the company changed its name to Life Asset Management.

He said, "Both purchasing artworks and asset management are the same in that they are value investing. You have to recognize the intrinsic value of the object and buy it when it is undervalued."