SEOUL, Jan. 4 (Korea Bizwire) — The South Korean art market surpassed 1 trillion won (US$782 million) in total sales for the first time in 2022 on strong sales of artworks through galleries and art fairs, the culture ministry said Wednesday. The trade volume of artworks increased 37.2 percent from 756.3 billion won in 2021 [...]
SEOUL, Dec. 21 (Korea Bizwire) — South Korea’s art market is expected to break the 1 trillion-won (US$776.5 million) mark for the first time this year on the back of brisk sales by galleries and art fairs, according to a report released Wednesday. The trade volume of artworks nearly tripled from 2020 to 922.3 billion [...]
BUSAN, Sept. 16 (Korea Bizwire) — The Galleries Association of Busan said Thursday it will host the 2022 Busan Annual Market of Art at the Grand Josun Busan in the southeastern city from Sept. 22-25. Held for the second time since last year, the art fair will showcase some 1,000 pieces of art from 60 [...]
SEOUL, Sept. 2 (Korea Bizwire) — Two big international art fairs kicked off in Seoul on Friday, bringing together a combined 350 galleries from around the world. The 21st edition of the annual Korea International Art Fair (KIAF) Seoul and the inaugural Frieze Seoul, a prestigious international contemporary art fair hosted by leading art platform [...]
SEOUL, July 7 (Korea Bizwire) — South Korea’s art market continued its upbeat mode in the first half of this year despite an economic slowdown, industry data showed Thursday. The total sales of artworks in Korea reached an estimated 532.9 billion won (US$410.1 million) in the first six months of 2022, according to data by [...]
SEOUL, March 25 (Korea Bizwire) — The boom of the local art market is expected to continue this year thanks to swelling demand for artworks from individual investors amid the protracted pandemic, industry data showed Friday. The 2022 Galleries Art Fair, one of the biggest art trade fairs in South Korea held from March 16-20, [...]
SEOUL, Dec. 6 (Korea Bizwire) — With South Korea’s art market reaching new highs, the total volume of successful bids has set a new record this year. The Korea Arts Management Service reported that 296.8 billion won (US$250 million) had been spent on artwork auctions this year as of November. The size of the art [...]
SAINT-ROMAIN AU MONT, FRANCE, Sept 29, 2014 (Korea Bizwire) — Thierry Ehrmann, the CEO and founder of Artprice: Artprice.com is pleased to present its eighth exclusive report on the contemporary art market. Artprice permanently enriches its databanks with information from 4,500 auctioneers and it publishes a constant flow of art market trends for the [...]
SEOUL, Sep. 25 (Korea Bizwire) – The government proposed a vision to nurture the art market to a size of 630 billion won (US$604 million) by 2018. This is bigger than the record-high level set in 2007 when the figure was 604.5 billion won. The Ministry of Culture, Sports and Tourism said this on September [...]
SAINT-ROMAIN AU MONT, FRANCE, Sept 2, 2014 (Korea Bizwire) – A few years back Artprice acquired Xylogic, a Swiss company created by leading scientists in 1987. Xylogic was the only company in the world producing indexes and econometric tools for an extremely powerful art market elite consisting of art experts, international auction firms, and major [...]