Korean Contemporary Art at Sesame Gallery – artmarketblog.com
Emerging Art Markets for Challenging Times
As caution replaces confidence in the emerging art market, buyers are turning to medium-long term investments to ride out the financial crisis, and as a result art from emerging economies and future global leaders is becoming increasingly more attractive. South Korea, already one of the world’s most rapidly advancing nations, is particularly interesting thanks to an already well-developed local art market and a distinctive Korean aesthetic. This June in London commercial galleries will be presenting exhibitions that forge some initial inroads into this exciting and potentially lucrative emerging art market.
South Korea has rocketed from rural economy to become a technological powerhouse and the world’s thirteenth largest economy in the space of a few decades. As an advanced economy, Korea is embracing the value of contemporary art as both commercial and cultural capital on the world stage, and as a result, artists and galleries travel and exhibit globally. Economically Korea is already considerably influential at a global level, and as both the country and its influence continue to grow, the value of its artistic output will gain increasing importance in the international market.
In June a number of events give a hint to the first waves of interest in this emerging market. The Sesame Gallery in Islington features “Ideal Worlds”, an exhibition that explores one of the major themes of South Korean art – the process of adapting to rapid Westernisation – and brings in work for the first time in the UK. Likewise, the Korean Arts Council is funding an exhibition at i-Myu Projects in Old Street titled Old Pop. A number of Korean artists are also coming up for auction for the first time at Christies towards the end of the month, underlining how this is a market that is beginning to take promising shape in difficult times – which can only bode well for when things pick up.
South Korean Contemporary Art
See exhibition details here:
Koh Sang Woo – Luca Sangjun Kim – Gee Song
4 June – 3 July 2009
Opening Reception: Thursday 4 June 6-8pm
354 Upper Street
T: +44(0)20 7226 3300
F: +44 (0)20 7226 7231
**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.