[AKEI NEWSLETTER 8호]The exhibition, exclusive to the wealthy, serves as a means of f…
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The exhibition, exclusive to the wealthy, serves as a means of financial technology for the general public...
It
was not easy to find exhibition events due to the strengthened quarantine due
to COVID-19, but even if the exhibition is held, there are few places with many
people. However, these days, many people visit the exhibition with With Corona.
In
the financial sector, huge liquidity has been flowing into the art market
through real estate, stocks, and virtual assets since the COVID-19 Pandemic.
According to the KIAF Steering Committee, 88,000 visitors gathered during the
five days of the art fair, and sales increased by 65 billion won. Sales easily
surpassed the previous record of 31 billion won in 2019, and visitors also
increased by more than 7% over the same period despite the COVID-19 situation.
Along
with KIAF, Art Busan and Daegu Art Fair also paid off. Art Busan, which was
held in May this year, attracted 80,000 people, recording 35 billion won in
sales, the highest ever. At the Daegu Art Fair held last month, more than
14,000 people visited for four days to achieve 9.8 billion won in sales.
Lee
Sang-hun, a researcher at Hi Investment & Securities, said, "Art
products have emerged as a means of investment in real assets due to the
low-interest rate trend. In the past, art prices were high and a small number
of collectors and wealthy people were major consumers, but the domestic art
market will also grow."