Korean Art Market Rebounds in 2025: Blockbuster Shows and Kiaf–Frieze Drive Recovery
Creatrip Team
3 months ago
South Korea's art market staged a strong comeback in 2025 after a difficult start to the year. Major blockbuster exhibitions — notably Ron Mueck's first solo show in Asia at the National Museum of Modern and Contemporary Art (MMCA), which drew over 500,000 visitors — helped revive public interest and raise collectors' tastes. The fourth Frieze Seoul and 24th KIAF fairs at COEX attracted roughly 70,000 and 82,000 visitors respectively, recording robust sales (including record prices at Frieze Seoul) and reinforcing Seoul's role as an Asian art hub. Younger MZ collectors shifted from short-term resell strategies to long-term, taste-driven collecting, boosting middle-market transactions (artists priced around 5–20 million KRW). This renewed demand fed into the auction market: after a low first half with a 48.7% hammer rate, the market entered a U-shaped recovery in the second half, with notable high-profile lots (e.g., Lee Jung-seop and Marc Chagall) fetching strong results and overall auction clearance rates rising into the 60% range. The year marked a selective, value-driven stabilization that bodes well for 2026.
