"Number of Visitors Up 30%...
Sales Also Increase, with a 6.3 Billion Won Transaction"
Frieze Seoul and Kiaf Seoul, the largest art fairs in Korea, opened on September 3 at COEX in Samseong-dong, Seoul. Although there were significant concerns due to the subdued atmosphere in the art world during the first half of the year, the mood on the opening day was described as "much better than last year." The number of visitors increased compared to the previous year, and high-priced works were sold in succession, including Mark Bradford's piece for 6.3 billion won, Georg Baselitz's for 2.9 billion won, and Kim Whanki's for 2 billion won.
Interior view of Kiaf Seoul, which opened on the 3rd at COEX in Samseong-dong, Seoul. Kiaf SEOUL 2025
The opening ceremony, held in front of the COEX Grand Ballroom that morning, was attended by First Lady Kim Hye Kyung, Chairman Koo Ja-yeol of the organizing committee, Lee Sunghoon, President of the Korea Gallery Association, Kim Youngsoo, Vice Minister of Culture, Sports and Tourism, Cho Sanghyun, CEO of COEX, Simon Fox, CEO of Frieze, Patrick Lee, Director of Frieze Seoul, Yang Jonghee, Chairman of KB Financial Group, Oh Hyewon, Executive Director at LG Electronics, Chung Byung-guk, Chairman of the Arts Council Korea, Kim Sunghui, Director of the National Museum of Modern and Contemporary Art, and Cho Sungmyung, Mayor of Gangnam-gu, among others.
Kim Hye Kyung, wife of President Lee Jae Myung, is delivering a congratulatory speech at the opening ceremony of Frieze Seoul and KIAF Seoul held at COEX in Gangnam-gu, Seoul on the 3rd. Photo by Yonhap News
In her congratulatory speech, Mrs. Kim said, "As the status of K-culture has risen even further recently, the number of foreign visitors to museums and galleries across the country has increased significantly. The festival of art created by world-class galleries and talented artists gathering together will make Seoul an even more vibrant and attractive city."
Koo Ja-yeol, Chairman of the organizing committee, added, "Although continued global economic uncertainty is also affecting the art world, I believe we can overcome these challenges together. Especially in times like these, I am deeply grateful to all the artists, galleries, and supporters who have made this event shine, under the belief that art delivers an even greater resonance."
On this day, Mrs. Kim toured major galleries at both Kiaf and Frieze for about an hour. She visited leading domestic galleries such as Sun Gallery, Hakgojae, Kukje Gallery, and Leeahn Gallery, as well as global galleries including White Cube, Gagosian, and PKM Gallery, to appreciate their works. She discussed K-Pop Demon Hunters with representatives from overseas galleries and expressed amazement at works utilizing artificial intelligence (AI). During meetings with domestic gallery representatives, she listened to opinions on how Korean art is perceived in the global art market and ways to foster growth in the domestic art market.
"Number of Visitors Up 30%... Sales Also Increase, with a 6.3 Billion Won Transaction"
Many commented that the atmosphere on the first day was better than last year. On the first day, which was reserved for VIPs, the gallery corridors were so crowded that visitors had to make their way through throngs of people. Popular gallery booths were packed with people taking photos, viewing artworks, and making purchase inquiries. At Kiaf, which was relatively less crowded than Frieze, around 10,000 people visited on the first day, marking a 30% increase from last year. Celebrities were also spotted, including BTS's RM, Kim Hee-sun, Lee Hyori, Go Soo, Kim Yuna, So Ji-sub, Lee Jong-seo, and Lim Soo-jung. From the business world, Lotte Group Chairman Shin Dong-bin, E1 Chairman Koo Ja-yong, Crown Haitai Holdings Chairman Yoon Young-dal, and Byucksan Engineering Chairman Kim Hee-geun were among the visitors.
Major galleries reported high sales rates early on. Hauser & Wirth, a globally renowned gallery exhibiting at Frieze, sold three works by American artist Mark Bradford for 4.5 million dollars (approximately 6.26 billion won), marking the highest transaction of the day.
Perrotin, a France-based gallery bustling with visitors, sold out 12 pieces by Takashi Murakami, famous for his "smiling flower" motif, immediately after opening. Two of Murakami's works were sold for 600,000 dollars (about 830 million won) and 320,000 dollars (about 450 million won), while ten smaller pieces were each sold for 42,000 dollars (about 60 million won). Emma Webster's works "Jurassic" (2025) and "Manzanita Ridge" (2025) were both sold out at 85,000 dollars (about 120 million won) each. A representative from Perrotin explained, "There are as many as 15 people on the waiting list, reflecting the high popularity. Works created by the artist using VR (virtual reality) glasses have received a particularly enthusiastic response."
Georg Baselitz, an artist who draws attention at every art fair, continued his streak of high-priced sales this year. Baselitz's work found a new owner at Thaddaeus Ropac for 1.8 million euros (about 2.9 billion won), and another piece was sold at White Cube for 1.3 million euros (about 2.1 billion won). At Pace Gallery, a work by Mary Corse was sold for 220,000 dollars (about 360 million won).
Interior view of the Frieze Seoul 2025 exhibition hall, which opened on the 3rd at COEX in Samseong-dong, Seoul. Photo by Seo Mideum
Among Korean galleries, Hakgojae sold Kim Whanki's "Clouds and Moon" for 2 billion won. Kukje Gallery sold Park Seo-bo's "Ecriture No.110211" (2011) for 648,000 dollars (about 901 million won), a work by Jenny Holzer for 480,000 dollars (about 660 million won), and a painting by Ha Chong-hyun for 270,000 dollars (about 380 million won). Gallery Hyundai, which showcased works by masters such as Yun Hyong-keun, Kim Tschang-yeul, Chung Sang-hwa, and Lee Kun-yong, sold a piece by Chung Sang-hwa for 600,000 dollars (about 830 million won).
Kiaf was praised for improvements in the overall quality of works and booth layout. The balance between works by young, mid-career, and established artists was also noted. However, compared to Frieze, there remained a noticeable gap in both attention and sales volume.
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