Lee Ufan Works Lead Seoul Auction and K Auction Sales in Late February

Lee Ufan (1936–), ‘Dialogue,’ oil and mineral pigment on canvas, 290.8×218.5 cm (300), 2008, estimated 950 million won to 1.8 billion won. [Photo=Seoul Auction] — Lee Ufan (1936–), “Dialogue,” oil and mineral pigment on canvas, 290.8×218.5 cm (300), 2008, estimated 950 million won to 1.8 billion won. [Photo=Seoul Auction]

The year’s first art auction delivered stronger-than-expected results, raising expectations of a market rebound, and major houses are now preparing a new round of February sales.

According to the art auction industry on the 19th, Seoul Auction and K Auction will hold their February auctions on the 26th and 27th, respectively.

Together, the two houses will offer 226 works by artists whose value has been tested in domestic and international markets, with a combined estimate of about 17.6 billion won.

Seoul Auction will feature Lee Ufan’s “Dialogue,” a work defined by minimal brushwork set against broad areas of open space. It is estimated at 950 million won to 1.8 billion won. Works by key figures in modern Korean art, including Lee Jung-seob, Chang Ucchin and Choi Young-rim, will also be offered.

Lee Ufan, ‘Dialogue’ (No. 300). [Photo=K Auction] — Lee Ufan, “Dialogue” (No. 300). [Photo=K Auction]

K Auction will also lead with large-scale “Dialogue” paintings by Lee, including No. 300 and No. 100, and will add a wider range of works, from ceramics to small terracotta pieces. The No. 300 painting, made in 2007, is described as a rare, extra-large format within Lee’s output. It is estimated at 1.35 billion won to 2.4 billion won.

Lee Ufan ceramic work. [Photo=K Auction]

Lee’s ceramic works and terracotta pieces offered alongside the paintings highlight another side of his practice. His painted ceramic work titled “Untitled” extends the relationship between dots and empty space from his flat canvases into three-dimensional form.

Kim Tschang-yeul (1929–2021), ‘Sunflower,’ oil on canvas, 43.2×116.3 cm, 1955, estimated 250 million won to 500 million won. [Photo=Seoul Auction] — Kim Tschang-yeul (1929–2021), “Sunflower,” oil on canvas, 43.2×116.3 cm, 1955, estimated 250 million won to 500 million won. [Photo=Seoul Auction]

At Seoul Auction, Kim Tschang-yeul’s “Sunflower” and “Return” are also expected to draw attention. “Sunflower,” made in 1955, shows the artist’s early style before his well-known water-drop series and is estimated at 250 million won to 500 million won. “Return,” a large folding-screen-format work made in 1996, is estimated at 120 million won to 250 million won.

K Auction will also offer works by Dansaekhwa masters including Park Seo-bo and Yun Hyong-keun, alongside international names such as Yayoi Kusama, Bernard Buffet, Gerhard Richter and Yoshitomo Nara. Kusama’s 1991 “Pumpkin” will be included.

Chun Kyung-ja, ‘Woman.’ [Photo=K Auction] — Chun Kyung-ja, “Woman.” [Photo=K Auction]

Chun Kyung-ja’s “Woman,” selected for the auction catalog cover, is also positioned as a key work in the sale.

A K Auction official said the January auction ended with strong interest, confirming steady demand and high collector participation. The official added that the positive start to the year is fueling expectations for more active movement in the art market in 2026.