Frieze Announces First Asian Fair in Seoul for September 2022

Frieze will stage its inaugural Asian fair in Seoul in September 2022, marking a major expansion for the events company. The fair will be held at COEX in Seoul's Gangnam district and run concurrently with Kiaf Art Seoul, with which Frieze will collaborate. Approximately one hundred exhibitors are expected for the first edition. Frieze has partnered with the Galleries Association of Korea to organize the event. Dal-Seung Hwang, chairman of the Galleries Association of Korea, stated the partnership would confirm Seoul as a global art market hub and South Korea as a major Asian destination. The announcement comes amid a challenging period for art fairs, with Art Basel and UBS reporting 61 percent of events were cancelled last year. A survey indicated 40 percent of galleries believe fair sales will continue to decline, though Asian dealers, particularly in China, are more optimistic, with 54 percent of Chinese gallerists anticipating increased sales. Asia, excluding China and India, accounts for 7 percent of the world's billionaires. Frieze currently operates fairs in London, New York, and Los Angeles.