Key Market Indicators
Korean demand for works of art is on the rise, projected to reach $541 million by 2026. This figure is up 2.7% on average each year since 1993. In 2021, Korea was the ninth largest market, with Singapore overtaking it with $446.9 million. The UK, Switzerland and the UAE ranked second, third and fourth, respectively. Korean supply of works of art is set to decrease, with exports estimated to reach $62 million by 2026. This is a drop of 8% each year since 1993. In 2021, India overtook Korea, which was the eighteenth largest supplier, with $97.6 million. The UK, Switzerland and France were the second, third and fourth biggest suppliers.
