Through this round of investment, Art Busan has successfully secured the optimal strategic partnership base required to expand its existing art fair business to Seoul and the global market. At the same time, it has positioned itself to operate a diverse range of new ventures within the on and offline sectors of the international art markets, which require strategic alliance.
Art Busan was established in 2011 with the ambition to transform the culturally marginalized city of Busan into a city of culture. In pursuit of this goal, they organized their first art fair, 'Art Show Busan,' in 2012. By 2022, Art Busan attained Korea's top art fair brand title, in terms of visitor numbers, total sales volume, and art fair ranking conducted by the Ministry of Culture, Sports and Tourism, establishing itself as an art fair brand that gained not only domestic but also international attention. Through Art Busan, acclaimed international galleries have made their first debut into the Korean market, leading them to open their Korean branches. As such, Art Busan has been a key player in connecting major art institutions, galleries, art patrons and collectors.
As a significant step in its full-scale business expansion and global leap, Art Busan will unveil the first edition of the premium design and art fair, 'DEFINE SEOUL,' in the Seongsu district of Seoul from November 1st to 5th.
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