South Korea's two premier art fairs concluded over the weekend with remarkable success, drawing substantial international attendance and reinforcing Seoul's growing reputation as a major art destination beyond Asia. KIAF Seoul and Frieze Seoul, held concurrently at the COEX exhibition center in southern Seoul, attracted approximately 70,000 to 80,000 visitors from 48 countries during their five-day run from Wednesday through Sunday, with Frieze closing one day earlier than KIAF.
The exclusive Wednesday preview events drew an impressive array of high-profile attendees from the global art world. Notable South Korean dignitaries included Seoul Mayor Oh Se-hoon and First Lady Kim Hea Kyung, while international art institutions were represented by officials from prestigious venues such as the Museum of Modern Art in New York City and London's Tate Modern. The events gained additional star power from the presence of K-pop celebrities, including members of BTS and BLACKPINK's Lisa, alongside other prominent cultural figures.
Frieze Seoul generated significant buzz with several high-value sales that underscored the fair's growing commercial importance. The most notable transaction occurred on preview day when Zurich-based Hauser & Wirth sold Mark Bradford's "Okay, then I apologize" (2025), a triptych abstract painting, for $4.5 million to an undisclosed Asian collector. This sale represents the highest-priced artwork ever sold at the fair and demonstrates the strong appetite for contemporary American art among Asian collectors.
Other significant sales at Frieze Seoul included works by established American artists through Hauser & Wirth. The gallery successfully sold paintings by George Condo for $1.2 million and Rashid Johnson for $750,000, while two works by Louise Bourgeois fetched $950,000 and $600,000 respectively. Meanwhile, Salzburg-based Thaddaeus Ropac achieved notable sales with a work by German artist Georg Baselitz selling for 1.8 million euros ($2.09 million) and a painting by Alex Katz for $900,000.
KIAF Seoul also demonstrated strong commercial performance, particularly in promoting Korean artists and contemporary works. Kukje Gallery achieved a significant sale with a painting by the late Park Seo-bo selling for over 400 million won ($288,000), highlighting the continued market strength of Korean contemporary masters. The gallery also sold all ten pieces from Swiss artist Ugo Rondinone's "Color Mountain" sculpture series, with individual pieces priced between $45,000 and $54,000. Gallery Hyundai contributed to the success with the sale of a work by renowned water-droplet artist Kim Tchang-yeul for over 200 million won.
The KIAF Highlights section, specifically designed to showcase ten promising Korean artists, generated particularly encouraging sales figures that suggest a healthy market for emerging talent. Gallery Theo sold fifteen pieces by artist Park Grim, while Space Willing N Dealing successfully sold ten works by Park Noh-wan. These sales demonstrate growing collector interest in Korea's next generation of artists and suggest a sustainable market for contemporary Korean art.
"KIAF is a platform that shows the energy and potential of contemporary art," stated Lee Sung-hoon, president of the Galleries Association of Korea, which organizes KIAF. "This year, we were able to witness the future direction and power of Korean art through the works of diverse generations and backgrounds presented in one place." Lee particularly noted the "active participation" of young art enthusiasts in their twenties and thirties, describing this demographic engagement as "a crucial movement that will sustain the future art market."
Gallery professionals echoed these positive sentiments, emphasizing the international scope and quality of this year's events. Kim Jung-sook from Seoul-based Duru Art Space observed "the notable presence of young collectors along with international collectors from Asia, Russia and other regions," interpreting this diversity as evidence of "the 24-year-old KIAF's sustainable global potential going forward." The fair's growing international recognition reflects Seoul's emergence as a significant player in the global art market.
The collaboration between KIAF and Frieze, now in its fourth year, has significantly elevated the overall quality and international profile of Seoul's art scene. Gallery Mac President Jang Young-ho noted that "the exhibition quality and viewing environment of KIAF have risen to a level comparable to Frieze" through this partnership. He emphasized that the collaboration has helped domestic galleries and artists "broaden their networking with overseas galleries and art institutions," creating opportunities that extend far beyond simple commercial transactions.
Looking toward the future, industry professionals view the success of both fairs as validation of Seoul's potential to become a major international art hub. "I think the fair served as great chance for us to expand the overseas presence and global networking, beyond simple artwork sales," Jang Young-ho concluded. The strong attendance, high-value sales, and positive industry feedback suggest that Seoul's art fairs are successfully establishing themselves as essential stops on the international art calendar, positioning the city as a bridge between Eastern and Western art markets.
