Controversy Over New Regulations in South Korean Art Market
Creatrip Team
a year ago
Lee Sung-hoon, the first legally-trained president of the Korean Gallery Association, voiced strong concerns over the new Art Promotion Law's introduction of a 'gallery registration system' and 'resale royalty rights' in South Korea. He criticized the proposed regulations, set to roll out in 2026 and 2027 respectively, as they don't exist in the global art market and could stifle the local industry. Lee emphasized the need for further evaluation and discussion of these laws, highlighting potential negative impacts on small galleries and artists.
