The artwork of Yoo Young-kuk (1916–2002), a pioneer of Korean abstract art, sold for between 220 million and 250 million won at Frieze Seoul 2026, held at COEX in Seoul on September 3. This sale marks the highest price among the works sold at this year's Frieze Seoul.
International Gallery stated, "The Yoo Young-kuk piece showcased at our booth has been sold for the highest price among the works at Frieze Seoul," adding that it was acquired by a board member of a North American art museum visiting Korea.
Interest in Yoo Young-kuk continues to grow, as evidenced by a retrospective exhibition titled 'Yoo Young-kuk: The Mountain is Within Me,' currently running at the Seoul Museum of Art. Since its opening in May, the exhibition has attracted over 300,000 visitors and features 170 works, including 115 oil paintings, making it the largest retrospective of Yoo Young-kuk to date.
Since its inception in 2022, the highest price for a single artwork at Frieze Seoul was approximately 6.3 billion won. Last year, Hauser & Wirth sold American artist Mark Bradford's large triptych 'Okay, then I apologize' (2025) for $4.5 million, equivalent to about 6.26 billion won.
This year, the fair has seen a strong start, with multiple artworks selling for over 100 million won on the opening day. Templon sold Adrian Ghenie's painting 'Figure with Funerary Stele' (2026) for 1.1 million euros (about 170 million won). A sculpture by Antony Gormley also found a new owner for 750,000 pounds (approximately 140 million won). Among Korean artists, several works by Kim Chang-yeul were sold, priced between $180,000 and $1 million (up to about 150 million won).
International galleries have assessed that the purchasing power in the Korean art market remains robust. Nick Simunovic, managing director of Gagosian, remarked, "It was a strong opening," noting that major works by Damien Hirst were sold to prominent collections, although specific prices were not disclosed.
James Green, associate partner at David Zwirner, stated, "The purchasing power in this region remains strong," while Rachel Lehmann, co-founder of Lehmann Maupin, mentioned, "We sold a significant number of works on preview day, with many buyers being Asian, indicating that the Asian art market is still solid."
* This article has been translated by AI.
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