- Business
- Seoul Auction Co. Ltd. operates as South Korea's leading art auction house, primarily conducting auctions of paintings, sculptures, crafts, photography, calligraphy, ceramics, and other artworks; it also provides brokerage and secured loan services using art as collateral, art storage, corporate art marketing and promotion, exhibition curating, space rental, art consulting, donation services, and valuation services including for Chinese art. Founded in 1998 and headquartered in Seoul with branches in Busan, Insa-dong, Gangnam, and Hong Kong, the company serves domestic and international collectors through physical auctions, online platforms such as eBid Now and Blacklot.com for art and NFTs, and specialized sales like design auctions, print auctions, and contemporary art exhibitions. Geographically, it focuses on the Korean market while expanding via Hong Kong operations since 2008 and sourcing artworks from countries including England, Hong Kong, Singapore, France, China, India, and Japan. Recent developments include the launch of the Market Price Appraisal Committee in 2024 and selection as a specialized art sales agency in 2023; it hosted the "2024 Connect Seoul" event featuring contemporary artist exhibitions, auction previews with works by Yayoi Kusama, Alex Katz, Yoo Youngkuk, and Park SeoBo, and a media art group exhibition in partnership with K11 Art Foundation and LG OLED; earlier strategic investment from Shinsegae Inc. in 2021 amounting to KRW 28 billion for a 4.8% stake fueled collaborations on online art and NFT platforms, with ongoing involvement in NFT marketplaces and metaverse projects. The company listed on KOSDAQ in 2008 and maintains leadership with approximately 38% market share in Korea's auction sector.