2024 Galleries Art Fair: Emerging Artists Shine with High Sales Figures
2024 Galleries Art Fair. Photo by Galleries Association of Korea. Courtesy of Galleries Art Fair
(Seoul, South Korea, April 7, 2024) – The curtains have fallen on the 2024 Galleries Art Fair, marking a triumphant conclusion to five days of artistic fervor. Hosted at COEX Halls C and D, the fair showcased the talents of 156 leading galleries from across the nation against the backdrop of spring's vibrant energy.
The fair kicked off with a VIP preview on April 3rd, drawing over 4,700 attendees, a 5% increase from the previous year. Throughout its duration, the fair welcomed a total of over 58,000 visitors, underscoring its significance as a cornerstone of the art calendar and the premier art event of the year.
Despite initial concerns stemming from global art market fluctuations, the fair exceeded expectations, with visitors actively engaging with artists and their works. While the frenzy of previous years may have tempered, there was a notable increase in interest and understanding of contemporary art.
While a preference for stable artworks persisted, there was a noticeable surge in demand for promising emerging artists, aligning with the fair's emphasis on youthful energy reflected in its new BI. Notably, the rational pricing of works by emerging artists catered to the tastes of MZ-generation collectors, emerging as a robust consumer segment in the retail market.
Sales Report
Emerging artists took center stage, with their works garnering considerable attention and sales. Galleries such as BHAK saw works by emerging artists like Soonjae, while Gallery Woo witnessed brisk sales of works by HAN Choongseok. Gallery Joeun celebrated strong demand for works by SUNG Yeonhwa,and KIDARI GALLERY saw impressive sales figures for CHOI Hyeonggil's pieces. LeeSeoul Gallery recorded high sales for KIM Jahae's artworks, and Space Willing N Dealing reported strong demand for PARK Nohwan's creations. Moreover, Gallery Chosun experienced a sell-out success with WOO Minjung's pieces, while Gallery NoW and Artspace H each sold out works by KOH Sangwoo and Vivi CHO, respectively. KUKJE GALLERY observed a surge in variable demand, from Sungsic MOON to Candida Höfer, and Hakgojae Gallery's KIM Eunjeong witnessed notable sales as well.
Solo booths also garnered attention, with GALLERY MARK presenting experimental works by Spanish artist Javier MARTIN, and WOOSON GALLERY selling numerous works by emerging artist HEO Chanmi. The large-scale balloon installation by pop artist Artnom at GALLERY YEH and the painting exhibition of OH Byungwook presented by ARTSIDE Gallery, which brought the essence of the sea into the fair site, became popular photo spots for visitors.
ZOOM-IN Edition 5: Spotlight on Emerging Artists
The 2024 Galleries Art Fair marked the fifth edition of the ZOOM-IN Special Exhibition for emerging artists, solidifying its position as a vital platform for young talent to showcase their skills. Ten artists, including KWAK A ram, KIM Bokyung, KIM Hanna, SONG Jihyun, SIM Yeji, LEE Sungjae, LEE Hojoon, JANG Su ik, CHOI Myeongwon, and CHOI Hyeyeon, were selected through a competitive process, showcasing their unique artistic vision. The ongoing partnership with Porsche Korea, who hosted a photo zone on-site, and CultureArt4u, an online cultural platform providing audio guides, further enriched the program.
On April 7th, the awards ceremony for the 2024 ZOOM-IN Awards and the Porsche Special Award took place. Approximately 5,000 visitors participated in the on-offline voting process to select the final three artists showcased in the ZOOM-IN exhibition. With the addition of expert judging, the winners were announced: LEE Sungjae (First Prize), KWAK A ram (Second Prize), and CHOI Myeongwon (Third Prize). Lee's heartfelt acceptance speech for the First Prize resonated with attendees. The Porsche Special Award, reflecting both audience votes and internal discussions, was granted to CHOI Myeongwon. Works by KWAK A ram, SIM Yeji, LEE Hojoon, JANG Su ik, CHOI Myeongwon, and CHOI Hyeyeon were swiftly acquired, offering budding collectors a chance to embark on their collecting journey with these promising artists featured in the ZOOM-IN Edition 5.
ART&ARTIST TALK Program with Industry Experts
The ART&ARTIST TALK program, featuring discussions with industry experts, ran from April 4th to 6th, during the general admission period. Each session at the Talk Lounge reached maximum capacity, reflecting the profound interest of the audience in the program. For those unable to secure seats due to space constraints, Instagram Live streaming was available for easy access to the content.
Designed meticulously to promote the balanced development of the art market and foster a culture of responsible collecting, the ARTIST TALK featured insightful conversations between artists and critics, exploring the world of art. The participating artists, all selected from the ZOOM-IN Edition 5, provided insights beyond mere exhibition of their works, evolving into platforms for thought-provoking exchanges.
ART TALK lectures were also held daily over three days. On April 4th, JUNG Yunah, Vice President of Christie's Hong Kong, examined trends in domestic and international art markets and provided collecting guidance under the theme '2024 Collecting Guide.' On April 5th, RHIE Yuk-kyoung Attorney of Danziger, Danziger & Muro, LLP explored legal issues related to art, including art tax laws, promotion laws, and cultural heritage protection laws, within the theme 'Art Law Issues for Collectors.' Finally, on April 6th, KIM Young-ae, CEO of Ian Art Consulting, presented 'Business Insights from Art: Economic Creativity of Artists,' showcasing examples of collaborations between the fashion and art industries and brand collections. These sessions were widely praised for offering practical, specialized knowledge on art acquisition, directly from the dynamic arena of art sales.
About Galleries Art Fair Korea's oldest art fair, Galleries Art Fair, was founded in 1979 to showcase Korea's precious artworks to the public and develop the Korean art market. Based on decades of accumulated experience, Galleries Association of Korea strives to cultivate emerging artists by promoting projects to discover new talents and enjoy and communicate with audiences through exhibitions of contemporary art selected by member galleries. Through this, Galleries Art Fair is definitely Korea's representative art fair that is constantly leading the way in the development of culture that enriches the life and art of our time. For more information, please visit www.hwami.org and follow us on @galleriesartfair. About the Galleries Association of Korea
The Galleries Association of Korea was founded in 1976 with a mission to facilitate broader and deeper appreciation of art in Korea, contribute to fostering a healthy art market, and to advance Korean art on an international stage. Today, the association – consisted of more than 160 galleries nationwide – organizes art fairs (Kiaf and Galleries Art Fair) and operates The Art Appraisal Committee and The Art Policy Research Centre.
