The Frieze Art Fair returned to South Korea for a second year on Wednesday, with dealers hoping the event would provide a boost for the burgeoning local art market, after economic woes triggered a slump in sales this year.
Art buyers flocked to Seoul's COEX convention centre to see cutting-edge works by emerging artists, antiquity art through the 20th century, and offerings from established galleries, such as Gallery Hyundai, Kukje and Gana.Frieze, made its Asia debut in South Korea last year, drawing over 70,000 visitors.
Despite this backdrop, the South Korean and the Asian art market remain resilient, Patrick Lee, Director of Frieze Seoul, told Reuters. Over 120 galleries from 30 countries are taking part, with more than half of them operating spaces in Asia, the organisers have said. "From around three years ago, young collectors started to show interest in the market. Celebrities and influential people also began collecting , which I think has had an impact."
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