What's the art auction market this year?First auction, including Kim Hwan-ki's works.

[Anchor]
This year's first art auction will be held on the 22nd.

Recently, the art auction market has been in a slump, but many popular works such as Kim Hwan-ki, Cheon Kyung-ja, and David Hockney are attracting attention,
This is reporter Han Sang-ok,
.

[Reporter]
Sales in the domestic art auction market last year were the worst in the last five years.

The total auction bid was about 115.1 billion, only 75% of the previous year, the lowest in five years.

Of the 22,900 entries, the winning bid was also the lowest since 2020, with 10,600 winning bids and 46.4%.

The outlook for the art auction market is dark again this year.

High exchange rates and political instability are cited as factors for the overall economic slowdown.

[Hong Kyung-han / Art critic] Because we can't afford to be economically comfortable, the investment in art is proportional accordingly, so we don't see any signs of improvement from last year.]

In the meantime, this year's first art auction will be held on the 22nd.

118 domestic and foreign artists' works, worth about 7 billion won, were submitted.

The most interesting piece is Kim Hwan-ki's 1969 [Untitled], which shows his original aesthetics and formal experiments in New York.

Including this work, eight works by Kim Hwan-ki have been submitted.

Masterpieces by modern and contemporary Korean masters such as Cheon Kyung-ja, Kim Chang-yeol, and Jeong Sang-hwa, as well as works by famous foreign artists such as David Hockney and Nicholas Fati, were also released.

Attention is drawn to the outcome of the first art auction, which will be held in the dark view.

I'm YTN Han Sang-ok.

Reporter for filming
: Kwak Young-joo
Design: Jung Eun-ok