Frieze Seoul Focuses on Marketable Works Instead of Blockbusters
KIAF Attracts 82,000 Visitors... Praised for Exceeding Expectations
Foreign Art World Figures Visit Amid Two Major Biennales
The global art fairs representing the Korean art scene in September, 'Frieze Seoul' and 'KIAF,' each concluded on the 7th and 8th, looking forward to next year.
On the 4th, a visitor at 'Frieze Seoul' held at COEX in Gangnam-gu, Seoul, is taking a photo of George Condo's 'Self-Portrait' with a mobile phone. [Image source=Yonhap News]
'KIAFrieze,' which started simultaneously on the 4th at COEX in Seoul, saw Frieze end a day earlier, and KIAF closed the event on the 8th, marking the end of a week-long 'Art Week' that heated up Seoul.
Now in its third edition, Frieze Seoul was operated with a focus on off-site exhibitions and related events in a calm viewing environment, rather than large-scale works and a noisy atmosphere like in the first edition. Especially this year, with the Gwangju Biennale and Busan Biennale taking place before and after the art fair, many foreign art world figures, including art lovers, collectors, museum, and gallery officials, visited Korea.
On the 8th, Frieze announced that the number of visitors to Frieze Seoul was about 70,000, similar to last year. Among them were global art world figures who visited the fair, including representatives from the Centre Pompidou in France, Dia Art Foundation in the U.S., Guggenheim Abu Dhabi, Hong Kong K11, Los Angeles County Museum of Art (LACMA), Louvre Abu Dhabi, Hong Kong M+ Museum, Museum of Modern Art (MoMA) in New York, Mori Art Museum in Japan, New Museum in the U.S., Serpentine Gallery in the U.K., Solomon R. Guggenheim Museum in the U.S., Stedelijk Museum in the Netherlands, and Tate Modern in the U.K., Frieze added.
On the 4th, visitors are viewing the exhibition at 'Frieze Seoul' held at COEX in Gangnam-gu, Seoul. [Image source=Yonhap News]
Looking at the performance of major galleries, Hauser & Wirth sold a portrait by Nicolas Party, who is holding a solo exhibition at Hoam Art Museum, for $2.5 million (about 3.35 billion KRW), and the German gallery Spr?th Magers sold George Condo's 'Self-Portrait' for $1.95 million (about 2.6 billion KRW) to private collectors in Asia.
PACE Gallery reported that a painting by Lee Ufan sold for $1.2 million (about 1.6 billion KRW), and Thaddaeus Ropac Gallery announced that a work by Georg Baselitz found a new owner on the first day of the fair for €1 million (about 1.48 billion KRW). Several sculptures by Annika Yi, who held a solo exhibition at Leeum Museum, were sold for $200,000 (about 260 million KRW) at Gladstone Gallery.
Korean galleries International Gallery sold works by Yang Hye-gyu, Moon Sung-sik, and Lee Hee-joon, and PKM Gallery sold a painting by Yoo Youngkuk for $1.5 million (about 2 billion KRW). Gallery Hyundai attracted attention by setting up a booth in the form of a solo exhibition of Jeon Junho; seven of Jeon Junho's works found new owners, and Jo Hyun Gallery, which mainly exhibited works by Lee Bae, sold 10 pieces by Lee Bae for $56,000 (about 75 million KRW) each.
On the 4th, a visitor is examining a work by Annika Yi at 'Frieze Seoul' held at COEX in Gangnam-gu, Seoul. [Image source=Yonhap News]
The 'Frieze Seoul Stand Prize,' awarded to galleries with outstanding booth presentations, went to the Vietnamese gallery Quynh. Quynh Gallery received praise for organizing its booth as a solo exhibition of Vietnamese-American artist Tuan Andrew Nguyen.
From the 2nd to the 5th, night parties were held consecutively at museums and galleries in the Euljiro, Hannam-dong, Samcheong-dong, and Cheongdam-dong areas of Seoul as related events. At the Samcheong Night event on the 4th, the National Museum of Modern and Contemporary Art Seoul branch stayed open until midnight for the 'Night of Artists.' Minister Yoo In-chon of the Ministry of Culture, Sports and Tourism, who attended, emphasized, "We will comprehensively support promoting the capabilities of Korean art to the world and helping domestic artists advance overseas." Additionally, the Arts Management Support Center and the International Exchange Foundation invited mid-career foreign curators to visit domestic artists' studios, receiving favorable reviews.
On the 4th, a work by artist Jeon Junho was exhibited at 'Frieze Seoul' held at COEX in Gangnam-gu, Seoul. [Image source=Yonhap News]
Although about ten galleries withdrew their participation citing transportation costs and recession due to economic downturn before the event, news of large-scale artwork sales centered on world-class galleries continued, leading to an assessment that this year's Frieze achieved its intended success. Patrick Lee, director of Frieze Seoul, explained, "Frieze Seoul 2024 has further solidified its position as an important event on the global art calendar," adding, "Especially this year, coinciding with the Gwangju Biennale and Busan Biennale, it was an occasion to showcase the depth and diversity of Korean art."
KIAF Seoul, which closed on the 8th, attracted about 82,000 visitors over five days. A KIAF official stated, "This year, VIP visitors increased, and especially on the last day, when only KIAF was open after Frieze ended a day earlier, 12,000 visitors came, a significant increase from about 6,000 last year."
KIAF did not disclose individual gallery sales results, but an official explained, "Despite the global economic downturn, we achieved more positive results than expected, and although sales were not as high as during boom times, we overcame the anticipated difficulties."
On the 4th, visitors are viewing the exhibition at the Cheongjak Gallery booth of the Korea International Art Fair (Kiaf) held at COEX in Gangnam-gu, Seoul. [Image source=Yonhap News]
This year, unlike the past two years when KIAF was relatively overshadowed by Frieze, it received widespread recognition for 'changing.' A gallery representative met on-site said, "This year, the stronger gallery screening and expansion of the exhibition space, among other improvements by the organizers, were effective."
KIAF stated, "We made efforts to improve visitor convenience by reducing the number of participating galleries and expanding exhibition space," adding, "Also, about one-third of the entire exhibition hall was composed of overseas gallery booths, laying the groundwork to become a global art fair."
In particular, this year KIAF implemented a more meticulous and strict process than previous years, requiring galleries to submit plans for booth interior arrangements and to exhibit mainly new works rather than old ones.
As a result of these efforts, some galleries participating in KIAF reportedly achieved good sales. Hirose Senju's new work exhibited by Sundaram Gallery from the U.S. sold for $420,000 (about 560 million KRW), and Geumsan Gallery, which had a booth in the Grand Ballroom, sold a large object work by Nam June Paik. Gallery Yoon sold a large work by Lee Kang-so for 120 million KRW, and Dongsanbang Gallery sold many works by domestic masters such as Seo Se-ok Sanjeong, Kim Ki-chang Unbo, and Kim Ho-deuk.
On the 4th, visitors at the Korea International Art Fair (Kiaf) held at COEX in Gangnam-gu, Seoul, are viewing the exhibition. [Image source=Yonhap News]
Sales of domestic artists' works continued in the main exhibition as well. A large painting by Lee Bae exhibited by Gallery B&S sold for 260 million KRW, and a large-scale work by Lee In-seop, measuring 2.6 meters, exhibited by Supportment Gallery, found a new owner for 120 million KRW. In the solo section, Gallery Grimson set up a solo booth for Chae Sung-pil and recorded a sell-out, and Gallery Now also reported that all works by Ko Sang-woo and Kim Joon-sik were sold.
The 'KIAF Highlights Awards,' planned to discover emerging artists, selected Kang Cheol-gyu, Kim Eun-jin, and Choi Ji-won as finalists. In particular, Choi Ji-won of This Weekend Room attracted attention by recording a sell-out. Each of the three finalists received a creative support grant of 10 million KRW.
The series of large exhibitions opening around the KIAFrieze period is also noteworthy. Works by artists currently exhibited at major domestic museums and large galleries, including the Gwangju Biennale and Busan Biennale, were introduced at the art fair as works submitted by the galleries to which the artists belong. These works were sold on-site, creating a scene where exhibitions and art fair venues were linked as one, drawing attention.
KIAF evaluated, "It has fulfilled its role as Korea's largest art fair by serving as a focal point uniting the Korean art world, discovering new faces, revitalizing the art market, and expanding artistic boundaries."
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