Frieze put Seoul on global art map, but can it sustain the momentum?

Four years ago, Korea’s art market was riding a pandemic-era boom and the inaugural edition of Frieze Seoul fueled expectations that Seoul was poised to emerge as another art capital in Asia. It was also around the time that Korea's art market reached a record 806.6 billion won ($572 million) in sales. International galleries opened new outposts, expanded their existing spaces or staged pop-up exhibitions in Seoul. Korea’s relatively favorable tax regime was another factor that attracted interna