In both South Korea and Taiwan, GDP growth in 2023 slowed to around 1.4 percent after relatively prosperous pandemic years. Yet with their respective economies on the rebound in 2024, art fairs are competing to capture domestic audiences and keep collectors’ attention on their homegrown initiatives, while still angling for international clout.

SEOUL

With a highly competitive domestic art market, South Korea is home to more than 60 art fairs per year—more than one per week—across all genres and periods. In April 2024, the 42nd edition of the Galleries Art Fair, organized by the Galleries Association of Korea, was held at the COEX Convention and Exhibition Center in Gangnam from April 3–7, with 156 participants, including the city’s heavweights such as Gallery Hyundai and Kukje. One month later, in Korea’s second-biggest city, the Busan Exhibition and Convention Center (BEXCO) hosted 129 galleries from 20 countries in the 13th edition of Art Busan, with Seoul-based Kukje, PKM, Johyun, and Société from Berlin all traveling to the beachside event. These large-scale events continue to lure visitors (Galleries Art Fair reported more than 58,000 attendees) while Art Busan connects dealers to clientele from outside the Seoul market.