“The art market has completely changed, so we need to get rid of old ways and ideas.”

Photo by Bae

“There are several galleries and gallerists representing Korea. Among them, PKM Gallery and Kyung-mee Park, President of PKM Gallery are famous enough to be counted in one hand.” An art journalist said.
 

On August 4th, at PKM in Samcheong-dong, Seoul, the ‘ArtCaster’ course conducted by Sayart.net, which Promote Korean art internationally, was held. The guest lecturer on the day was Chung Jae Suk, former director of the Cultural Heritage Administration, who has established a reputation as a culture and arts journalist for decades.

In the middle of the lecture, Chung held a brief interview with Kyung-mee Park, President of PKM Gallery. In an interview, Park told students about her decades of experience as a gallerist. 

 

Park is one of the most famous gallerists in Korea. She has grown her PKM Gallery into a leading gallery in the domestic art world after 20 years of establishment.

 

Sayat.net shares her insights.

▲ Kyung-mee Park, President of PKM Gallery, Photo provided by PKM.

Below is a brief summary of the conversation between Chung and Park.

What do you think the Korean art market was like?

The Korean art market began to open to overseas markets around the 1988 Seoul Olympics. After that, it went through several processes, and as global art contents flowed into Korea in the 2000s, the collector group became younger and more diverse.

looking back, when I first started working in the art world, I had a hard time getting art related information. For this reason, I had to go abroad 5 times a year to get the art information I needed. Also at that time, To be engaged in the art world meant to endure only with passion and curiosity. But now the world has changed. How amazing is it that a world-class art fair like Frieze is held in Korea?

How do foreigners evaluate the Korean market?
In the past, our only interest would be to want to know about Western art. On the other hand, Westerners were more interested in how to use Korean art than to know about it. Although it is still on the margins, it is true that the Korean art market has developed considerably.

In particular, the emergence of new collector groups and their ability to purchase works of art are driving the growth of the Korean market. It is also amazing that large groups of foreign collectors come to Korea to buy Korean art. I think the time has come for Korean artists to be recognized internationally.

PKMbooks, why did you launch?
I’ve always thought that a good artist should be able to represent the times. Such artists can put the spirit of the times in their work. I’ve been trying to find such artists for a long time. Also I’ve been trying to help them grow. But as the years passed, Such good artists around me passed away. 

I thought it was necessary to rediscover the value of such late artists. If we re-evaluate the artist's artistic spirit, we can find the permanence of art that can be passed down from generation to generation. It is to make the past and present into one value. PKMbooks was created for these activities. PKMbooks publishes various books related to late artists.

Can Korea become a hub for the Asian art market?
Many Koreans claim that Korea, not Hong Kong, will become the hub of Asian art in the future. but I think it is difficult for Korea to monopolize.

I think in the future, Hong Kong, Singapore and Seoul will compete with each other for the hub of the Asian art market.

Of course, I also want Korea to monopolize it. 

However, there are several reasons why Korea cannot become an exclusively the hub of the Asian art market.
 

First of all, Korea has a geographical handicap compared to Hong Kong. Korea is too far northeast. There is another reason. the big players in the world art world are already investing heavily in Hong Kong. Having invested a huge fortune, they will never give up Hong Kong easily.

Actually, Hong Kong has been in a state of great political instability in recent years, which has even hit the corona pandemic. Because of this, many predicted that Hong Kong Sotheby's and Christies would fail. But the result was just the opposite.

Is interest in Korean artists growing in the West?

10 years ago, Korean art became famous for a while when Korean Dansaekhwa artists became known in the Western art world.

But I thought this was a deformity. In fact, at the time, I hardly saw any research or related articles about Korean Artist abroad.

However, it can be seen that the situation has changed recently when I see that studies and related articles on Korean Dansaekhwa are frequently published in foreign countries. 

I think that Korean art has now entered a stable zone in overseas markets as well. 

What is the correct answer to survive in the art market?
There is no answer. In today's era, Regardless of the opinions of experts, it can become a trend if capitalists buy some work and the public follows it. We should not ignore the steps of a young and powerful collector group that has appeared in the Korean art market.

In the past, some famous gallerists and critics who were called experts have led the art market, but this is far from the case now.

the environment of the art market has clearly changed. So We don't have to cling to our past thoughts or ways. In the end, If I give a similar answer, it means that everyone needs to study more with an open mind. Only those who understand the market and the environment can survive.

If you recommend another worthwhile exhibition during Freeze Seoul
There are other meaningful exhibitions, please take a look. In line with the frieze period, A nighttime opening event is held in which the gallery is open until midnight on the day of the week determined by region. This exhibition is designed for those who cannot go to the gallery during the day.

Priority, On September 1st, ‘Hannam Night’ will be held with the participation of Gallery Barton, Lehman Muffin, Thaddeus Lopac, and Pace Hannam-dong, Seoul. The next day, ‘Samcheong Night’ will be held with the participation of Gallery Hyundai, Kukje Gallery, One&J, Hakgojae, Perotang, and PKM, Samcheong-dong, Seoul. 

▲ PKM Gallery, Photo provided by PKM.

Park doesn't do interviews with the media very often. So The interview with her that day was meaningful. After majoring in English literature at Ewha Womans University In her youth, she moved to the United States to study contemporary art. and She has 10 years of experience since 1989. at Kukje Gallery, one of the three largest galleries in Korea along with Gana Art and Gallery Hyundai.

PKM gallery, led by Park, the first amongst the Korean galleries invited to participate in the Frieze Art fair in 2004, played a major role in advancing Korean contemporary art to the global art market. and PKM continues to exhibit at leading international art fairs such as Art Basel, FIAC, Armory Show, and Expo Chicago, and has introduced Korean and international artists to global collectors and professionals.

Sayart.net 

Maria Kim sayart2022@gmail.com