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3w ago

Frieze Seoul and Kiaf Close With Record Sale as City Stakes Claim in Asia’s Art Circuit

Organizers emphasize long-term regional positioning for Seoul despite a cooled domestic market.

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Actress Kim Hee-sun (C) talks with a gallery official at Kiaf Seoul in this photo provided by Kiaf on Sept. 3, 2025. (PHOTO NOT FOR SALE) (Yonhap)
Visitors look around booths at Kiaf Seoul at the COEX exhibition center in southern Seoul on Sept. 3, 2025. (Yonhap)
Visitors check out paintings displayed at Kiaf Seoul at the COEX exhibition center in southern Seoul on Sept. 3, 2025. (Yonhap)

Overview

  • The joint fairs at COEX wrapped Sunday, drawing more than 80,000 visitors and delegations from over 160 museums and institutions, according to organizers.
  • Hauser & Wirth sold Mark Bradford’s 2025 triptych for $4.5 million during the VIP preview, the highest-priced work reported at Frieze Seoul to date.
  • This year’s Frieze featured roughly 120 galleries with a stronger Asian focus, and the number of Korean exhibitors rose from 12 in 2022 to around 30.
  • Reports and dealer feedback point to a softer Korean art market—down from about 800 billion won in 2022 to around 500 billion won—with gallery closures and relatively cautious local collectors.
  • Frieze leaders highlighted Ari Emanuel’s recent buyback and his backing of the Seoul edition as signals of continued investment despite weaker near-term demand.