The fourth edition of Frieze Seoul (3-6 September) will host around 120 galleries at the Coex convention centre in Gangnam, including mega-galleries like Gagosian, Hauser & Wirth, Pace, David Zwirner, and White Cube. The fair welcomes about 20 new exhibitors, such as 10 Chancery Lane Gallery and de Sarthe from Hong Kong, The Breeder from Athens, Carvalho from New York, Make Room from Los Angeles, and Ota Fine Arts from Tokyo. However, more than 40 galleries are not returning, including Karma, Mariane Ibrahim, Michael Werner, and Neugerriemschneider. The event unfolds amid significant political and economic turbulence in South Korea, including the impeachment of former president Yoon Suk Yeol after a martial law declaration, the election of new President Lee Jae Myung, and ongoing tariff negotiations with the United States, all contributing to a climate of uncertainty.
This edition matters because it tests the resilience of Seoul's art market amid a global contraction since 2023 and local political upheaval. Despite the downturn, industry figures like Sunghoon Lee of the Galleries Association of Korea and Emma Son of Lehmann Maupin express cautious optimism, noting that the market's foundation remains strong and that younger South Korean collectors (Millennials and Gen Z) are driving demand for diverse works from Latin America, Africa, and Southeast Asia. The fair's ability to maintain a strong international presence while adapting to shifting collector tastes and economic pressures will signal whether Seoul can sustain its momentum as a major art hub.