Seoul eyed as possible 2nd Asian base of Gagosian empire

Seoul, which took center stage on the global art scene after successfuly hosting international art fair Frieze’s second edition earlier this month, has already risen to become major art hub in Asia and could be chosen as Gagosian Gallery's second Asian base, said the world’s biggest art gallery’s director in Hong Kong.

“We are considering all options, including opening a gallery in Seoul,” said Nick Simunovic, senior director of Gagosian in Hong Kong, responding to rumors that the global art powerhouse is looking to open its first gallery in South Korea’s capital, during his interview with The Korea Economic Daily last week.

“I would suggest that the depth of the cultural infrastructure in Korea, along with Korea’s longstanding tradition of collecting, give Frieze Seoul a distinct advantage over the newer fairs on the calendar.”

Simunovic, who has been leading Gagosian’s Asian operations in Hong Kong since 2007, visited Korea last week to take in Korea’s biggest annual art fair Frieze 2023, which took place in conjunction with Kiaf Seoul, Korea’s first international art fair, inaugurated in 2002.

The Frieze Art Fair returned to Seoul this year after its impressive Asian debut in the city last year.

But Gagosian made news in Korea before Frieze’s triumphant comeback by naming Lee Ji-young, former director of German gallery Sprüth Magers’ Korean operations, as its first-ever director in charge of expanding Gagosian’s operations in Korea.  

Her appointment immediately sparked speculation in the Korean art world that the US art gallery juggernaut would soon open a space in Korea, given that the gallery is known to hire local directors to research local art markets and artists before officially opening new galleries in other countries.

Founded by the world’s most powerful art dealer Larry Gagosian in Los Angeles in 1980, Gagosian Gallery with an estimated annual revenue of about $1 billion has 19 exhibition spaces across the US, Europe and Asia. Hong Kong is its only Asian space.

SEOUL WITH A WEALTH OF CONTEMPORARY ART

Simunovic expected Seoul could play a different role from that of Hong Kong by meeting different needs of art collectors and artists from all over the world.

“Hong Kong is the galleries' platform for Asia. It's geographically located in the heart of Asia, (and) we've built up an enormous client base from Japan to Australia and everywhere in between,” said Simunovic.

“Both cities are incredibly dynamic, so I think it's a mistake to make a contrast between Hong Kong and Seoul. We have to pay close attention to both regions for the sake of our artists.”

He showed high regard for Seoul’s rich cultural assets and vibrant art scene, including the number of art galleries and museums far exceeding any city in Asia, which bodes well for the future of the country’s art world.  

“I saw exhibitions at Leeum and went to Amorepacific, and the scale and scope of them were extremely impressive,” said the Gagosian senior director. “You know clearly culture in the broad sense is very much valued in Korea, and the government is making an effort to support the development of the creative industries in Korea.”

Specializing in modern and contemporary art, Gargosian strongly values Korea’s rich collection of modern and contemporary artwork.

“The collectors (in Korea) are extremely sophisticated and have a lot of awareness in opinions about modern, contemporary and post-war art. We enjoy working with that kind of audience,” said Simunovic.

But it is expected to take some time before the global art powerhouse’s foray into Seoul, considering that it waited about four years before opening its official space in Hong Kong in 2011.

“We have always been very methodical and deliberate about what we do ... We will do our homework and Ji-young will do her research, and we will make our plans and do what's most appropriate for the collecting community,” said Simunovic.

If Gagosian opens a new gallery in Seoul, it would be the first of its kind in Asia in a decade and its second Asian base.

Korea has recently become a hot art stage for art collectors from around the world, especially with growing art enthusiasm among relatively young collectors.

The country’s latest art craze has brought the Frieze Art Fair to its capital and has led multiple foreign galleries to open branches in Korea.

Write to Sun A Lee at suna@hankyung.com

Sookyung Seo edited this article.