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NFT Artwork on LG Display’s Transparent OLED Screen Auctioned Off for US$6.2 mln

NFT Artwork on LG Display’s Transparent OLED Screen Auctioned Off for US$6.2 mln

SEOUL, May 26 (Korea Bizwire) — The non-fungible token (NFT) artwork realized on LG Display Co.’s transparent OLED screen fetched a huge bid, drawing significant attention. The South Korean display panel maker said Wednesday the NFT art collection “An Important Memory for Humanity” created in collaboration with Refik Anadol, a Turkish media arts designer and director, was [...]

Department Stores Tap into Artwork Sales

Department Stores Tap into Artwork Sales

SEOUL, Sept. 23 (Korea Bizwire) — With the expansion of the art market, department store chains are also jumping into selling artwork. Lotte Department Store opened up its galleries not only for exhibitions but also for selling artwork. The department store chain decided to have ‘Art Lotte,’ an artwork sales exhibition, as a regular event [...]

Samsung Joins Hands with Spanish Gallery to Add New Art Pieces to The Frame TV

Samsung Joins Hands with Spanish Gallery to Add New Art Pieces to The Frame TV

SEOUL, June 16 (Korea Bizwire) — Samsung Electronics Co. said Tuesday that it had added 23 masterpieces of 20th century art to The Frame, a picture frame-shaped television, in collaboration with the Thyssen-Bornemisza National Museum in Madrid. The new collection includes famous pieces by representative artists from the 20th century such as Piet Mondriaan and Wassily [...]

New Law to Root Out Counterfeit Artwork in Korea

New Law to Root Out Counterfeit Artwork in Korea

SEOUL, Oct. 6 (Korea Bizwire) – The Ministry of Culture, Sports and Tourism announced Thursday that it will legislate a new law regarding artwork distribution in an effort to root out the distribution of counterfeit works, recover public trust in Korea’s art market, and establish a healthy trading platform for creative crafts.  The law will [...]

New Government System to Pay Artists for Their Creative Undertakings

New Government System to Pay Artists for Their Creative Undertakings

SEJONG, Sept. 2 (Korea Bizwire) – The Ministry of Culture, Sports and Tourism announced Friday that it will begin a pilot project of what its calling an ‘Artist Fee System’, in an effort to ease the financial burden on artists and help them focus on their creative endeavors.  Artist fees are wages paid to artists [...]

POSCO’s Artwork Chosen as One of the Most Hated Public Sculptures in the World

POSCO’s Artwork Chosen as One of the Most Hated Public Sculptures in the World

SEOUL, Aug. 29 (Korea Bizwire) – POSCO is among world’s leading steel-makers. And its sculpture in front of the POSCO center in Gangnam (ugly though some say it is) represents just that—steel. But Posco’s sculpture has received a more recent spotlight on the multi-national art market website, Artnet.com, labelling it as one of “The 10 Most [...]

Korean Farms Present Rice Paddy Artwork

Korean Farms Present Rice Paddy Artwork

GOESAN, South Korea, July 27 (Korea Bizwire) – These are not crop circles. They are rice paddy artworks created by planting various colors of rice plants. The project first took off in 2008, and was spearheaded by local governments in North Chungcheong Province to promote the region and its produce. The Chungju Agriculture Technology Center [...]