The National Museum of Korea has achieved record-breaking attendance with over 5 million visitors annually, placing it among the world's top five most-visited museums. However, despite this remarkable success, the institution has been operating with a severely constrained budget that has remained essentially frozen for nearly a decade, according to government data released this week.

Democratic Party of Korea lawmaker Min Hyung-bae revealed troubling budget figures on Tuesday, showing that the museum's artifact acquisition budget has been virtually stagnant since 2015. The budget was set at 3.98 billion won (approximately $2.8 million) in 2015 and has remained at roughly the same level through 2024, the most recent year for which data is available. When adjusted for inflation, this represents a significant decline in purchasing power, as consumer prices have risen 19.98 percent over the past decade.

The museum's visitor numbers tell a dramatically different story of success and growing international recognition. In 2024, the institution welcomed more than 5 million visitors for the first time in its 80-year history, marking a remarkable 69.7 percent increase from the 2.96 million visitors recorded in 2023. According to The Art Newspaper, a respected UK-based publication that tracks museum attendance worldwide, only four museums globally exceeded the 5 million visitor threshold last year: the Louvre in Paris with 8.74 million visitors, the Vatican Museums with 6.83 million, the British Museum in London with 6.48 million, and New York's Metropolitan Museum of Art with 5.73 million visitors.

Despite achieving this prestigious international status, Korea's flagship cultural institution operates with dramatically fewer resources compared to its global counterparts. The stark disparity becomes clear when comparing acquisition budgets: the Metropolitan Museum of Art spent an impressive $229.59 million on acquisitions between mid-2018 and mid-2022, averaging approximately $81.7 million annually. This figure represents more than 20 times the annual budget available to the Korean museum, highlighting the severe resource constraints facing the institution.

The frozen budget has created serious practical consequences, forcing the museum to miss significant opportunities to acquire important cultural artifacts and artworks. A particularly notable example occurred in 2022, when two gilt-bronze Buddhist statues designated as National Treasures were put up for auction. The museum was unable to participate in the bidding process because the combined starting price of 6 billion won exceeded the institution's entire annual acquisition budget, demonstrating how budget limitations directly impact the museum's ability to preserve Korean cultural heritage.

The budget crisis extends beyond the National Museum of Korea to other major cultural institutions in the country. The National Museum of Modern and Contemporary Art, Korea, which serves as the nation's premier state art museum, faces similar financial constraints. Data shows that this institution's acquisition budget has actually declined from 6.1 billion won in 2017 and has been stuck at approximately 4.85 billion won since 2021, indicating a broader systemic issue affecting Korea's cultural sector.

Lawmaker Min Hyung-bae emphasized the broader implications of these budget constraints, arguing that the situation threatens Korea's cultural development and international standing. "Securing collections and expanding curatorial expertise is an investment in cultural sovereignty," Min stated, connecting museum funding to national cultural identity. He added, "To foster Korea's cultural ambitions, we must start by bolstering investment in cultural infrastructure," calling for immediate action to address the funding gap that is limiting these institutions' ability to compete on the global stage.