Overview
- Frieze Seoul and Kiaf opened at COEX this week, with Frieze in its fifth year fielding about 133 galleries from 30 countries and Kiaf marking its 25th edition with 175 galleries and 127 Korean exhibitors.
- Global blue‑chip dealers including Gagosian, Hauser & Wirth, David Zwirner, Pace and White Cube are on view alongside Korea’s major galleries, drawing strong attention to marquee booths.
- More than 70% of Frieze exhibitors now operate across the Asia‑Pacific and the fair’s line‑up shows over 40% turnover, a shift organisers and dealers say reflects stronger intra‑Asian ties and new gallery investment in Seoul.
- Official KAMS data show the domestic market fell from a 2022 peak of 806.6bn won to 615.1bn won in 2024, but remains larger than 2017 levels, and industry insiders describe the change as a corrective maturation rather than a collapse.
- Both fairs have expanded curated sections and satellite programs and have signalled a renewal of the Frieze–Kiaf partnership, a development that could deepen local gallery ecosystems and widen the pool of younger collectors across the region.