By Cathy Rose A. Garcia
Staff Reporter
Galleries pushed fresh new talent at this year's Korea International Art Fair 2009 (KIAF), as the global economic downturn continued to affect the art market.
Artworks by big-name artists Damien Hirst, Andy Warhol, Fernando Botero, Marc Chagall, Paik Nam-june and Lee Ufan were on display, but a lot of fresh, innovative works by up-and-coming artists also garnered attention. These works by new artists were surprisingly affordable, going for around one million won for small works and sculptures.
Osaka-based Tezukayama Gallery brought some works by young Japanese artists such as Akiko Sumiyoshi, whose cute animal character sculptures went for around $2,800 to $3,000.
``KIAF is a big art fair. Last year, the art market was not so good, so we think it is a good chance to get attention for our artists this year. We brought artists that are young, have powerful works and the prices are cheap. It's a good investment,''' Tezukayama Gallery director Ryoichi Matsuo told The Korea Times.
Some galleries offered reduced prices to get more collectors into the art market. ``I know galleries have been reducing prices a little and there's an opportunity definitely to buy. Even with the more established artists, we've been giving a bit of a discount. I think the collectors have been expecting that. Normally, we don't like to do that but this year, I think this is an opportunity for collectors,''' said Suzanne Hampel, director of ARC One Gallery from Melbourne.
It was Hampel's first time to participate at the KIAF, thanks to support from their government. Australian art is not yet well known in Korea, and the Australia Korea Foundation has given funding for four Australian galleries to go to KIAF.
``I thought we'd bring a mix of works to get an idea of what the people are interested in. We brought artists who are working with contemporary issues, and those who have been showing internationally,'' Hampel said.
The KIAF saw a drop in participation by galleries from here and abroad. This year's fair only had 168 galleries, compared to 218 last year.
Maria Lund, director of Paris-based Galerie Maria Lund, said she decided to return to the art fair this year because of her positive experience last year. She brought new works by French artist Didier Boussarie and Korean artist Lee Jin-woo to the fair.
``We were quite happy at the results from KIAF last year. I think it was a miracle last year, considering the financial crisis just started when the fair opened. I think many of the French galleries did not go back this year because they didn't have a good experience last year. I think the market will be a little better this year, because in Europe, it's already getting a bit better,'' Lund told The Korea Times.
Despite a leaner line-up of galleries and continued concerns over the global economy, KIAF organizers reported 13.6 billion won in sales at this year's fair, down from last year's 14 billion won. The number of visitors also fell to 56,000 from 61,000 last year, as people stayed away from crowded places due to the H1N1 outbreak.
Colmar Schulte-Goltz, director of Kunst-Raum/ Schulte-Goltz+Noelte gallery from Germany, remained bullish about the Korean art market, saying art is still a good investment. The gallery brought some colorful, cheerful works by artists Uwe Gross, Ivo Lucas and Martin Herler, which ``make people smile'' in these tough economic times.
``In past years, we have successfully sold our German and international art to Korean clients. It's very charming to get in touch with the Korean art world as well. … In my opinion, the art market is doing very well because a lot of people lost money on the stock market and now they would want to spend their time at home and they invest in art, because this is something they see. The value is in their hands, and not in the bank accounts. It is something they can enjoy,'' Schulte-Goltz said.