The New Art Market Hub: Gangnam
The art market’s emerging powerhouse is now in Gangnam. Following the established art hubs of Samcheong-dong and Hannam-dong, Gangnam has become the new focal point for art enthusiasts and collectors.
Major Galleries Set Up in Gangnam
One notable addition is the Tang Contemporary Art Gallery, the largest gallery in Asia. It opened its doors in Cheongdam-dong in 2022, marking a significant milestone in the local art scene. Similarly, the prestigious German gallery, Meyer Riegger, will debut its first Asian branch in Samseong-dong this September. This gallery is known for representing top-tier artists like Miriam Cahn, Horst Antes, and Sheila Hicks. It has chosen Gangnam for its accessibility to key collectors and proximity to COEX, the venue for Frieze Seoul.
The Shift to Gangnam
International galleries have increasingly found a new home in Gangnam. High-profile names like Italy’s Massimo De Carlo opened a studio near Apgujeong Rodeo Station in March. Massimo De Carlo is renowned for its dynamic exhibitions, including Maurizio Cattelan’s provocative performance in 1999. The gallery views Gangnam as an ideal location for engaging with new artists and audiences. They cite Gangnam’s vibrant cultural atmosphere and the congregation of international galleries as key factors for their move.
Traditional Strongholds vs. Emerging Powerhouse
Historically, Seoul’s art market was dominated by areas like Samcheong-dong, home to the National Museum of Modern and Contemporary Art, and Hannam-dong, where the Leeum Museum of Art is located. However, with the rise of global art fairs like Frieze Seoul, Gangnam has emerged as a vital hub. This shift is further highlighted by the opening of White Cube’s Seoul branch in Sinsa-dong last September. This event signifies Gangnam’s growing influence.
Notable Galleries in Gangnam
The area around Dosan Park has become a cultural epicenter. Significant art spaces like Horim Art Center, Atelier Hermes, and SongEun Art Space have joined the mix. The arrival of global auction houses and flagship stores of major brands adds to the area’s allure. As Perrotin Seoul curator Park Hye-mi notes, the relocation to Gangnam has attracted a younger audience. This has created a synergistic effect among the galleries.
Expansion Continues
New York’s Gladstone Gallery and Tang Contemporary Art from China also established their Seoul branches in Cheongdam-dong in 2022. Art insiders predict that 70-80% of overseas galleries entering Seoul choose Gangnam as their base. This trend shows no signs of slowing down.
Domestic Galleries Follow Suit
Korean galleries are also moving to Gangnam. One & J Gallery, which operated in Gahoe-dong for 18 years, relocated to Cheongdam-dong last year. According to CEO Park Won-jae, the move has increased weekend traffic and attracted more affluent visitors aged 30-50 compared to their previous location. Additionally, frequent protests in the Jongno area have posed challenges for galleries in Samcheong-dong.
A New Trend: Gangnam Gallery Tours
Art lovers are now crafting gallery tour itineraries around Cheongdam-dong. They visit spots like G Gallery, Lee Euijin Gallery, and König Seoul in a single day. Exhibition enthusiast Kim Mo (37) shared her recent weekend itinerary. She visited Perrotin for a Georges Mathieu solo exhibition, One & J Gallery for Ian Lee’s exhibit, and Tang Contemporary Art for Woo Kuk-won’s solo show.
Gangnam’s dynamic art scene continues to grow, establishing itself as a must-visit destination for art enthusiasts and collectors alike.
Reference: https://n.news.naver.com/mnews/article/023/0003848054?sid=103
