[Cheongchun Report] Earn Money by Reviewing Artworks... MZ Generation Visiting Art Museums

Young People Flock to Art Museums and Exhibitions
'Injeungsat' Culture Also Influences

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Recently, young people have been flocking to art museums and exhibitions. They enjoy exhibitions by taking photos of artworks or posting reviews on social networking services (SNS). As interest in art grows, 'Art-Tech (Art + Investment)' is also gaining popularity. Artworks, once considered the exclusive domain of the wealthy, have recently established themselves as a scarce investment tool, especially among the MZ generation (Millennials + Generation Z).

Young People Enthusiastic About Exhibitions and Art Museums... Popularity of Catellan, Edward Hopper, and Others

Since its opening on January 31, about 210,000 people have visited the Maurizio Catellan solo exhibition at the Leeum Museum of Art in Hannam-dong, Seoul. The exhibition features hyperrealistic sculptures and paintings that are simple and easy to understand.

'Edward Hopper: On the Road' exhibition held at Seoul Museum of Art Seosomun Main Building.
[Image source=Yonhap News]

One of Catellan's representative works is 'Comedian.' This piece consists of a banana taped to the wall with silver duct tape and caused controversy last April when a man ate the banana.

Visitors can reserve tickets through the museum's website starting two weeks before their desired visit date. However, even with less than a month remaining before the exhibition closes on July 16, reservations remain difficult to secure due to its popularity. The exhibition's free admission has contributed to its appeal, but at one point, posts appeared on secondhand trading platforms selling exhibition tickets.

Meanwhile, the Edward Hopper solo exhibition is also popular. Since its opening on April 20, despite a paid admission fee of 12,000 to 17,000 KRW, 200,000 visitors have attended. Even two months after opening, it remains the top-selling exhibition in the online ticketing category.

The solo exhibition "WE" by artist Maurizio Cattelan is being held at Leeum in Yongsan-gu, Seoul, featuring the artwork "Comedian."
[Image source=Yonhap News]

The enthusiasm of young people for art museums and exhibitions is also linked to the ' 인증샷 (proof shot)' culture. As sharing daily life on SNS has become common, some exhibitions promote themselves with slogans like 'You can take the photo of your life' or 'Photo hotspot exhibition.'

In fact, a 2017 survey by 'University Tomorrow' of 537 people in their 20s who had visited exhibitions within the past year found that 89.6% had taken 인증샷 at exhibitions. Additionally, 61.3% had posted these 인증샷 on SNS. However, concerns that photography may disrupt the viewing experience have led some exhibitions to restrict photography and video recording.

If They Like It, They Invest... Active 'Art-Tech' Among MZ Generation

Maurizio Cattelan's solo exhibition "WE" is held at Leeum in Yongsan-gu, Seoul, featuring the artwork "Untitled."
[Image source=Yonhap News]

As more young people enjoy art and exhibitions, the number of those investing in artworks is also increasing. This is referred to as 'Art-Tech,' reflecting the tendency of young people to boldly invest in things they like, which seems to have influenced this trend.

According to the 'Korean MZ Generation Art Buyer Study' report released by the Arts Management Support Center in September last year, among MZ generation buyers who purchased artworks in the past three years, 11.1% spent between 100 million KRW and less than 500 million KRW, and 2.7% spent over 500 million KRW.

The center noted in the report, "Among the MZ generation, Generation Z had a significantly higher proportion of buyers purchasing directly from artists. Generation Z often contacted artists directly about artworks and purchased them through SNS platforms like Instagram, which are actively used by young artists."

The so-called 'fractional investment,' where a painting is divided into multiple shares and small investments ranging from 1,000 to 10,000 KRW are made, is also popular. Fractional investment involves dividing assets into shares and having multiple investors invest jointly.

Although they do not fully own the painting, owning a share of an expensive artwork with a small amount of money aligns with the 'value for money' satisfaction that young people seek.

This content was produced with the assistance of AI translation services.