By Elias Molina and Yoon Sojung

Seoul is emerging as a new center of fine art in Asia, the British daily Financial Times said on April 8.  

"South Korea’s capital, Seoul, is emerging as an increasingly attractive art market centre as overseas businesses look beyond Hong Kong for a base in Asia," the article headlined "Galleries go Seoul-searching" said.

The article mentioned Pace Gallery as an example.

In 2017, the gallery started out at a small space in Seoul but was eventually expanded to a facility 790 square m in the high-end shopping neighborhood of Hannam-dong.

Pace President and CEO Mark Glimcher was quoted as calling Seoul "very open and welcoming, with a little California feel to it," adding that Pace is not the only art business looking in the area.

The organizers of Frieze Art Fair, an international exhibition of contemporary art held in London, New York and Los Angeles, are thought to be close to opening in Seoul, the daily said, though Frieze said it has no such plan now.

A Frieze spokesperson told The Times, "We are always looking at new opportunities and have a great relationship with the Korean galleries, institutions and collectors. Anything is possible but there is nothing to report at this stage."

eliasmolina@korea.kr