Frieze, Kiaf art fairs in Coex bring in browsers, not so many buyers

The craze surrounding two art fairs — Frieze and Kiaf — being organized concurrently at the Coex convention center in Seoul last year has continued into this year, on an even bigger scale. The two fairs kicked off with a preview on Tuesday, and ...

Japanese artist Yayoi Kusama's pumpkin on display at Frieze Seoul 2023 in Coex convention center in southern Seoul.The piece was sold to a Korean collector during the VIP preview held on Wednesday. [YONHAP]

The craze surrounding two art fairs — Frieze and Kiaf — being organized concurrently at the Coex convention center in Seoul last year has continued into this year, on an even bigger scale.

The two fairs kicked off with a preview on Tuesday, and even though admissions were only allowed for VIPs and the press that day, the center in Gangnam District, southern Seoul, thronged with local and international visitors.

But will it lead to an actual purchase at such a time when insiders say there are signs of a looming downturn in art sales in Korea? The organizers of the two fairs say they’ll have to wait and see once the fair comes to an end on Saturday for Frieze Seoul and Sunday for Kiaf, or the Korea International Art Fair.

Visitors flock in to Coex convention center in southern Seoul on Thursday for two art fairs, Kiaf and Frieze 2023. [NEWS1]

Multiple gallerists at Frieze say they are seeing more international collectors this year, especially from China, largely due to the lifted Covid-19 travel restrictions for both China and Korea this year. A total of 121 galleries are taking part in this year’s Frieze, with big-name galleries from overseas including Hauser & Wirth, Gagosian, David Zwirner, Pace and White Cube.

Yu Zu-hyung, an individual collector who usually purchases art directly from gallerists, said it was “too difficult to concentrate with so many people walking in different directions. Though it was a great idea to divide visitors by timeslots, as chaos ensued during last year's event with too many people at certain hours, there were still a lot of people for me. I don’t think it’s that great of an environment to shop for art; maybe it would be good enough if the fair was focused on exhibiting rather than selling.”

The curator of a city-run museum who requested anonymity also said she’s been hearing from avid collectors and insiders that there are “not many works that really made them want to open their wallets" this time, and added that "it seems like works that are not too expensive have come out more this year compared to last year.”

Frieze Seoul reported that Hauser & Wirth closed the first preview day with the highest sale of $975,000 for Rashid Johnson’s painting. Lisson Gallery sold a 2004 Stanley Whitney painting for $550,000. But despite being the preview day for VIPs, there were no works priced at over $1 million that sold, such as Jeff Koons’ “Gazing Ball” sculpture from 2004 or a Calder mobile.

Visitors enjoy Korean artist Kwon Hana's paintings at gallery 2Gil29's booth exhibiting for Kiaf on Wednesday. [YONHAP]

The halls of Kiaf, which was organized on the first floor on a larger scale, were more placid and less crowded — until Culture Minister Park Bo-gyoon and Seoul Mayor Oh Se-hoon visited the fair at around 2 p.m.

Park met with emerging artists at the fair and said the most impressive works he saw during his time as a journalist were often by young emerging artists.

“The originality, sensitivity and the challenging spirit opposing the established order are privileges of future generations,” Park said. “The Ministry of Culture, Sports and Tourism will actively support young artists and make sure to ensure diversity and vitality in the art scene.”

Gallerists at Kiaf also said they are not selling as many works as last year, despite seeing more collectors from overseas. One gallerist said that since people visiting during the regular admission usually visit to enjoy different galleries all under one roof, rather than to make purchases, it is unclear whether the gallery will be able to score better than last year.

Visitors with a regular admission ticket can enjoy the fairs from today until Saturday for Frieze and until Sunday for Kiaf.

Meanwhile, fashion brands are jumping on the Frieze Seoul bandwagon by collaborating with artists that take after their own style.

An installation work made using recycled molds that used to create buildings by artist duo Fabrikr is a part of a special exhibition organized by Nike for Frieze Seoul 2023 titled "Reversion" at Geumho Alver in Seongdong District, eastern Seoul. [FABRIKR]

Nike kicked off a special exhibition titled “Reversion” at Geumho Alver in Seongdong District, eastern Seoul. Until Sunday, 10 individual and group artists are displaying their own interpretations of what I.S.P.A. is — Nike's new design philosophy that “challenges creators to Improvise, Scavenge, Protect and Adapt” — and help move Nike closer to its circular vision.

MCM Haus in Cheongdam-dong, Gangnam District, is also exhibiting colorful art by British designer and artist Yinka Ilori until Sept. 22. French luxury fashion house Dior will celebrate Korean artists at its flagship store in Seongsu-dong, Seongdong District. It will exhibit its Lady Dior bags featuring artwork by renowned artists such as Lee Kun-yong, Lee Bul and Ha Chong Hyun. The exhibit runs until Sept. 17.

BY YIM SEUNG-HYE [yim.seunghye@joongang.co.kr]