Amid the art market slump… Artists familiar with ‘sales guarantees’ stand out

by times news cr

Freeze Seoul-KIAF Seoul Opening
Frieze, 112 galleries from 32 countries participating… European galleries also introduce Korean artists
KIAF, 206 galleries from 22 countries participate… Attracting collectors by holding classical concerts

A VIP preview of the global art fair ‘Frieze Seoul’ that opened on the 4th at COEX in Gangnam-gu, Seoul. Compared to last year, when installations or performances drew attention or there were individual booths that highlighted only one artist, this year’s Frieze Seoul had a calm atmosphere. News 1

‘The size of the work should be smaller, and it should be done by familiar and comfortable artists rather than unfamiliar artists.’

This was the overall atmosphere of the global art fair ‘Frieze Seoul’, which was unveiled as a VIP preview at COEX in Gangnam-gu, Seoul on the morning of the 4th. Recently, amid growing concerns about an economic slowdown, the art market has also frozen. There was even talk in the gallery world that ‘collectors are waiting for Frieze Seoul and not opening their wallets.’

This year, the third edition of ‘Frieze Seoul’ has 112 galleries from 32 countries, slightly smaller than last year. In particular, 63% of all galleries are Asian galleries, and 31 of them are operated in Korea. There are 23 new galleries, and it is said that many of the galleries outside of Asia have given up on participating due to the economic recession and the war in the Middle East, which has caused the transportation costs to skyrocket.

If the first Frieze Seoul attracted a large number of visitors because they could see the works of overseas art masters and contemporary hot artists that were hard to find in the domestic market, this year, familiar artists whose sales are guaranteed were more noticeable. At a press conference held on the 22nd of last month, Patrick Lee, director of Frieze Seoul, said, “Participating galleries select their works by considering the different tastes of each market,” and “Art fairs cannot help but think about sales and sales, and the same goes for galleries.”

In this context, European galleries have been frequently seen introducing Korean artists’ works. The work of Jeon Hyun-seon, who signed an exclusive contract with Germany’s Galerie Estersiffer earlier this year, was also exhibited at the Galerie Lelong booth. Galerie Lelong is a historical gallery that opened in France in 1945 and introduced Joan Miró, Francis Bacon, and Alberto Giacometti. A representative from Galerie Lelong said, “Recently, our gallery has been actively trying to introduce young contemporary artists, including David Hockney,” and “We plan to hold Jeon Hyun-seon’s solo exhibition in Paris next year.”

French gallery Alminresi also exhibited paintings by artist Jeong Yeong-ju, who is popular in Korea for her “Daldongnae Paintings.” An Alminresi representative explained, “We have been introducing Korean artists such as Ha Jong-hyun, Kim Chang-yeol, and Lee U-fan for a long time, but we recently joined with artist Jeong Yeong-ju, and she will be holding a solo exhibition in London, England in November.” Austrian gallery Thaddaeus Ropac also announced on the 3rd that it had signed an exclusive contract with artist Lee Kang-so and will be holding a solo exhibition at its Seoul gallery next spring.

This year, 206 galleries from 22 countries participated in the 23rd KIAF (Korea International Art Fair) Seoul hosted by the Korea Gallery Association. The exhibition space was expanded by approximately 2,640m² (approximately 800 pyeong) compared to last year, and the route and booth layout were newly designed in collaboration with architect Jang Yu-jin. In addition, the KIAF Premiere Concert, a classical concert, will be held at the COEX Auditorium on the 5th and 6th to attract collectors. Hwang Dal-seong, the president of the Korea Gallery Association, explained, “We planned this because we felt that differentiated content was needed to attract the interest of various people, including music lovers as well as companies, to KIAF.”

Frieze Seoul will be held at COEX C and D Halls until the 7th, and KIAF Seoul will be held at COEX A and B Halls, Grand Ballroom, and The Platz on the 2nd floor until the 8th.

Reporter Kim Min [email protected]

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2024-09-05 01:04:40

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