Korean Minimalism (Dansaekhwa)

Korean Minimalism (also known as Dansaekhwa or “monochrome painting”) emerged as an art movement in the 1970s, as artists began creating meditative, abstract paintings as part of a national healing process in the aftermath of the Korean War. In 2011, the Guggenheim presented a solo exhibition of Dansaekhwa pioneer Lee Ufan, launching a global fascination with his introspective and restrained approach to artmaking. In 2016, the market for Korean Minimalism reached new heights as five Dansaekhwa artists broke their auction records in the span of just four months. In 2018, Ufan striped painting From Line No. 800139 (1980) continued this market spotlight, soaring past its high estimate of $833,000 and selling for a record $6.7 million at …