Now In Korea

South Korea's Art Auction Market Hits 5-Year Low

Creatrip Team

10 months ago

In the first half of 2025, South Korea's art auction market experienced a downturn, with a total sales volume of 57.2 billion won, a decrease of 37.6% compared to the previous year. Lee Ufan's artwork 'Dialogue' fetched the highest bid of 1.6 billion won at Seoul Auction in May. Despite leading the auction sales with approximately 3.9 billion won, Lee Ufan's total sales are at a historical low, emphasizing market challenges caused by political issues and global economic crisis. The art market hopes for a turnaround with the new government.

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