South Korea’s Depressed Art Market Puts a Damper on Frieze Seoul
Sales are down, and galleries are shutting, with experts predicting a shift toward substance over hype.
Visitors at the VIP preview day of Kiaf-Frieze Seoul 2025.
Photographer: Chris Jung/Getty ImagesThe glassy atrium at Amorepacific Museum of Art pulsed with energy on Monday night as a thousand VIP guests gathered ahead of Frieze Seoul and Kiaf (Korean International Art Festival).
Servers floated through the crowd with colorful, custom-made amuse-bouche celebrating Mark Bradford’s first solo show in South Korea. His exhibition “Keep Walking” sprawled across a 600-square-meter (6,500-square-foot) floor and featured works emblazoned with long strips of cloth and a new series Here Comes the Hurricane (2025) made specifically for Seoul. Guests raised Champagne flutes as industry heavyweights such as artist Lee Bul and collectors mingled. Gagosian opened Takashi Murakami’s show at the same time in the same building, adding another gravitational pull for VIPs.