Photo by National Museum of Contemporary Art
South Korean art market continues to grow. According to Korea Art Market Information System (K-ARTMARKET) on July 7th, the size of the 'Korean art market in the first half of 2022’ is estimated to be 413 million dollars.
In detail, Galleries sold the most at 189 million dollars, followed by auctions (10 auction companies) with 112 million dollars and art fairs (6 pieces) with 110 million dollars.
Korea art management service estimated that the divided ownership market, which is a 'fragmental investment', was about 24 million dollars, and the total market size would reach about 435 million dollars if it was included.
The size of the domestic auction market in the first half was 112 million dollars, a slight increase from 111 million dollars in the first half of 2021. The transaction amount of works in six art fairs, including the gallery art festival held in the first half of the year, was 110 million dollars, close to the estimated 111 million dollars in the 2021 art fair market.
The total number of visitors to the art fair held in the first half was 366,000, up 72.0% from 211,000 in 2021. The art divisional ownership market also recorded 24 million dollars, or 56.9% of 42 million dollars in 2021.
Korea Art Management Service analyzed that the growth of S.Korean art market, which started in 2021, will continue moderately until the second half of 2022, despite a contraction in investor sentiment due to the economic downturn this year.
Korea Art Management Service plans to hold a '2022 Korean Art Market Seminar in August, which forecasts the settlement of the art market in the first half and the second half of the year of 2022.
Sayart.net
Maria Kim sayart2022@gmail.com
If the divisional ownership is included, about 435.5 million dollars.
Photo by National Museum of Contemporary Art
South Korean art market continues to grow. According to Korea Art Market Information System (K-ARTMARKET) on July 7th, the size of the 'Korean art market in the first half of 2022’ is estimated to be 413 million dollars.
In detail, Galleries sold the most at 189 million dollars, followed by auctions (10 auction companies) with 112 million dollars and art fairs (6 pieces) with 110 million dollars.
Korea art management service estimated that the divided ownership market, which is a 'fragmental investment', was about 24 million dollars, and the total market size would reach about 435 million dollars if it was included.
The size of the domestic auction market in the first half was 112 million dollars, a slight increase from 111 million dollars in the first half of 2021. The transaction amount of works in six art fairs, including the gallery art festival held in the first half of the year, was 110 million dollars, close to the estimated 111 million dollars in the 2021 art fair market.
The total number of visitors to the art fair held in the first half was 366,000, up 72.0% from 211,000 in 2021. The art divisional ownership market also recorded 24 million dollars, or 56.9% of 42 million dollars in 2021.
Korea Art Management Service analyzed that the growth of S.Korean art market, which started in 2021, will continue moderately until the second half of 2022, despite a contraction in investor sentiment due to the economic downturn this year.
Korea Art Management Service plans to hold a '2022 Korean Art Market Seminar in August, which forecasts the settlement of the art market in the first half and the second half of the year of 2022.
Sayart.net
Maria Kim sayart2022@gmail.com
