Prominent and contemporary Korean artists, along with collectors, have united to create a space for future generations of artists.
The Jamunbak Cultural Forum, Gana Art Foundation, and Seoul Auction announced on June 18 that they will hold a fundraising auction for the construction of the "Jamunbak International Art Residency" on July 1 through the Seoul Auction online platform.
The initiative for the Jamunbak International Art Residency began in 2022 with a donation from Director Hong Ra-hee. The aim is to ensure that valuable donations are not dispersed across various projects but instead contribute to a sustainable cultural and artistic foundation for the future of the Korean art scene. This project is modeled after the Cité des Arts, a leading international residency in Paris. The significance of the Jamunbak Art Residency lies in its public-private partnership model, where public land is provided, and private sponsorship and fundraising efforts will lead to its establishment, ultimately benefiting the public.
The project is currently well underway. The Jamunbak Cultural Forum is developing the residency on a 308-pyeong site located at 93-4 Pyeongchang-dong, Jongno-gu, with construction slated to begin in 2026 and an opening planned for the first half of 2028. The complex will include artist studios, workshops, educational and exhibition spaces, and will operate as an international residency supporting the creative exchange of domestic and international artists. Notably, the Pyeongchang-dong area, which includes neighborhoods like Gugi-dong, Buam-dong, and Hongji-dong, has long been a cultural hub, home to numerous museums and galleries, making the establishment of the residency a promising addition to the region's artistic resources.
This auction is particularly significant as it reflects the belief that great creativity begins in a supportive environment, with leading artists and collectors from the Korean art scene voluntarily contributing their works.
Featured in the auction are notable pieces such as Kim Chang-yeol's "Return," Park Seo-bo's "Mystic Series," and Lee Bae's "Brushstroke," alongside works from contemporary artists like Kim Sun-woo, Choi Young-wook, Ha Tae-im, Jang Maria, and Moon Hyung-tae, as well as international artists like Ugo Rondinone and Takashi Murakami, providing a wide range of collecting opportunities.
The auction has also simplified its starting bids, offering options starting from zero, 1 million won, 10 million won, and 30 million won, making it more accessible for a broader audience to participate in the project.
A preview exhibition will be held from June 19 to 30 at the Gana Art Center SPACE97 before the auction. The auction will take place online starting at 2 PM on July 1 through the Seoul Auction website, with lots closing sequentially.
Lee Soon-jong, chairman of the Jamunbak Cultural Forum, stated, "This auction is a gathering of many artists and collectors who are committed to creating a nurturing environment for future generations. We hope for your interest and participation so that the Jamunbak International Art Residency can become a new hub for creativity and international exchange in Korean art."
* This article has been translated by AI.
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