 |
| The Korea International Art Fair (KIAF) Seoul held at COEX in southern Seoul last October was one of many local art events that saw record turnouts and sales last year amid surging public interest in art as an investment. Courtesy of KIAF Seoul |
By Park Han-sol
Korean art fairs last year, both big and small, claimed a continuous streak of success.
The 2021 edition of major art fairs ― including the Galleries Art Fair, KIAF Seoul, Busan Annual Market of Art (BAMA) and Art Busan ― all saw record turnouts and sales. According to the Korea Arts Management Service, the local art market tripled in size last year compared to the previous year, reaching more than 915 billion won ($751.5 million).
This notable surge in public interest in art sales and collecting, fueled partially by the hype surrounding non-fungible tokens (NFTs) and the news of the late Samsung Group Chairman Lee Kun-hee's vast art trove being donated to state-run museums, has been witnessed lately in the book publishing industry as well.
While fine arts books with a focus on well-known classic and contemporary masterpieces, as well as popular books on art history and theory, used to be the most in-demand items in the past, a string of publications introducing works of art as objects for collecting have recently begun hitting the bookshelves.
In fact, the sales rate of books on the latest trends in the art market and collecting jumped 549 percent in 2021 compared to the year before, according to the country's leading online bookstore, YES24.
A number of these publications are written as guides for a burgeoning group of new, younger collectors in Korea.
"Welcome, First Time in Art Investment?" released in November is penned by a financial consultant-turned-gallery director, who offers tips for beginners, including ways to participate in auctions and on determining the marketability of works of art.
 |
| "Lee Kun-hee Collection" (2022) by SUN Docent / Courtesy of Sam & Parkers Co. |
A book centering on Lee's massive art collection has also grabbed the headlines, coinciding with the National Museum of Modern and Contemporary Art, Seoul's exhibition, "MMCA Lee Kun-hee Collection: Masterpieces of Korean Art," which has been fully booked for months.
Aptly titled, "Lee Kun-hee Collection," the book features the works of Joseon-era court painter Jeong Seon, modern Korean masters Lee Jung-seop, Kim Whan-ki, Chang Uc-chin and Rha Hye-seok, as well as international icons including Pablo Picasso, Salvador Dali, Paul Gauguin and Claude Monet.
Since its release last month, it has topped the YES24's bestseller list in art before falling down a notch to second place last week.
![[ANALYSIS] S. Korean economy feared to follow in Japan's footsteps](https://img.koreatimes.co.kr/upload/thumbnailV2/3f9cf9747722448a8fd8da85b041817c.jpg/dims/resize/178/optimize)
![[REVIEW] 'The ODD Of LOVE' concert: Taeyeon shows why she is among K-pop's top vocalists](https://img.koreatimes.co.kr/upload/thumbnailV2/e385d0918b054c1286a1cfaa3142439e.jpg/dims/resize/178/optimize)
![[INTERVIEW] 'One Day Off' star Lee Na-young, director on creating subtle, feel-good series](https://img.koreatimes.co.kr/upload/thumbnailV2/796618f56a44402eabe81fe4530ab988.jpg/dims/resize/178/optimize)
