South Korea Unveils 5-Year Art Promotion Plan to Boost Transparency in Art Market
Creatrip Team
a year ago
The South Korean Ministry of Culture, Sports and Tourism has introduced a 5-year art promotion plan aimed at enhancing transparency and fairness in the country's art market, which currently represents less than 1% of the global market. This initiative includes measures such as implementing an art service industry registration system and establishing a comprehensive art information system. The plan also considers expanding tax benefits for art purchases to encourage demand and facilitate further market growth. Additionally, international promotion efforts include launching the 'Korea Art Festival' and engaging in overseas art projects. The plan will be further discussed in upcoming public hearings before finalization in July.
