“Ultra high-priced works were absent from this year’s Frieze Seoul and Kiaf Seoul, two global art fairs that wrapped up over the weekend. But there was a steady sale of artworks ranging from tens of millions to billions of won. The rise of Korean artists was notable, and high-quality off-market exhibitions opened simultaneously, giving the impression that Seoul has established itself as an ‘Asian art hub.’”
This was the consensus among domestic and international art insiders and experts on Frieze Seoul and Kiaf, which wrapped up on Sept. 7 and 8, respectively. Frieze Seoul attracted more than 70,000 visitors from 46 countries over four days, while Kiaf, the largest art market in South Korea, welcomed 82,000 visitors over five days. This year, the two art fairs were held concurrently with the Gwangju Biennale and Busan Biennale, drawing more collectors, international art institution representatives, and curators.
“Compared to the 70,000 visitors from 36 countries last year, more visitors from more countries enjoyed the fair this year,” said Frieze Seoul’s director Patrick Lee. “Frieze Seoul has further solidified its position as a key event in the global art calendar.”
With the global slowdown in the art market, fewer ultra-high-priced works were exhibited. Instead, more accessible and popular pieces were prominently displayed.
Swiss gallery Hauser & Wirth sold Nicolas Party’s Portrait with Curtains for $2.5 million, and German gallery Sprüth Magers sold George Condo’s Self-Portrait to a private Asian collector for $1.95 million. Other notable sales included a Lee Ufan painting sold by Pace Gallery for $1.2 million and a painting by Georg Baselitz, sold by Thaddeus Lopak for €1 million.
Korean galleries and artists also left a strong impression. PKM Gallery sold a Yoo Youngkuk painting for $1.5 million on the first day. Gallery Hyundai sold seven artworks by Jeon Joonho. Kukje Gallery also reported strong sales, including works by Yang Haegue, Moon Sungsic, and Lee Heejoon. Johyun Gallery sold ten pieces by Lee Bae for $56,000 each and pieces by Park Seo-Bo, Kwon Dae-Seop, and Lee Kwang Ho.
Leeahn Gallery sold works by Kim Geun-Tai, Lee Jin Woo, and Nam Tchun Mo, while Gana Art reported positive sales with Choi Jong-tae’s bronze sculptures and oil paintings by Lee Sang-guk. Gallery Shilla successfully sold paintings by Kwak Hoon.
A media art exhibition that stood out at Frieze Seoul featured works by the late Korean artist Suh Se-ok. His sumuk (ink) paintings were reinterpreted on screen by his sons, artist Suh Do Ho and architect Suh Eulho, in collaboration with LG’s Transparent OLED display. Suh Do Ho transformed his father’s paintings into animated media art, and Suh Eulho designed the exhibition space. A visitor remarked, “It was amazing to see the transparent TVs layered at intervals, projecting the video and expanding the paintings into three dimensions.”
Kiaf had a particularly strong year, according to industry insiders. Last year, Frieze and Kiaf were seen as distinctly different in scale, but this year, the quality of Kiaf’s entries improved with increased participation from international galleries and an improved selection of domestic galleries.
Sydney-based gallery Piermarq*, which participated in Kiaf for the first time, said, “Seoul’s role as a global hub for contemporary art is growing. It was a great opportunity to introduce new artists to Asian audiences.”
