Sotheby’s Sets Up Shop in Seoul

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Sotheby’s has joined the art world influx to Seoul, announcing they will open their first Korean location in the centrally-located Hannam dong neighbourhood.

‘South Korea embraces a diverse art and cultural scene with a mature ecosystem for art’, said Sotheby’s South Korea Managing Director, Jane Yoon. ‘It is very exciting for Sotheby’s to be part of this dynamic setting to connect with both established and young collectors on the ground.’

The new location will not be open in time for Frieze Seoul, but it will open before the end of September. It will occupy a 150 metre-square space in the new Hannam Hwawon Building, where it will host exhibitions, talks, and workshops.

Nathan Drahi, Managing Director of Sotheby’s Asia, described the move as falling within the auction house’s regional growth strategy, which has seen it expand from Hong Kong to Shanghai and Singapore, among other Asia art hubs.

With the new Seoul space, Sotheby’s is hoping to cash in on the rising number of South Korea’s ‘MZ’ collectors—comprising millennial and gen-z entrepreneurs.

Prior to the opening, Sotheby’s will present a joint exhibition of works by Banksy and Keith Haring with Paradise Art Space from 5 September—coinciding with Frieze Seoul.

The show, which runs until 5 November, will feature Banksy’s retitled Girl Without Balloon (2018) (formerly Love is in the Bin, and before that, Girl With Balloon) which shredded itself at a Sotheby’s auction in 2018. —[O]

Main image: Exterior of Sotheby's Seoul Office Building. Courtesy of Sotheby's. Photo: Yoon, Joonhwan.