Various Small Fires, an influential Los Angeles gallery, has opened up an outpost in Seoul and shows work by Korean-American artist Nikki S Lee at the inaugural Frieze Seoul. Photo: the artist and Various Small Fires
Various Small Fires, an influential Los Angeles gallery, has opened up an outpost in Seoul and shows work by Korean-American artist Nikki S Lee at the inaugural Frieze Seoul. Photo: the artist and Various Small Fires
Various Small Fires, an influential Los Angeles gallery, has opened up an outpost in Seoul and shows work by Korean-American artist Nikki S Lee at the inaugural Frieze Seoul. Photo: the artist and Various Small Fires
Various Small Fires, an influential Los Angeles gallery, has opened up an outpost in Seoul and shows work by Korean-American artist Nikki S Lee at the inaugural Frieze Seoul. Photo: the artist and Var

Frieze kicks off its first foray into Asia in Seoul


Melissa Gronlund
  • English
  • Arabic

There were rumours for years that Frieze — the contemporary art fair behemoth that started in London and now includes events in New York and Los Angeles — was eyeing a site in Asia. A few contenders were floated about in whispered tones: Seoul, Singapore, Shanghai.

In the end, Seoul won out, and this Friday, more than 110 galleries will descend on the inaugural Frieze outing in the upscale Gangnam district — the one made internationally famous a decade ago by that viral galloping dance.

“The arrival of Frieze in Seoul is a huge validation of the city and its place within the arts ecosystem,” says Patrick Lee, director of Frieze Seoul.

Patrick Lee, director of Frieze Seoul. Photo: Deniz Guzel
Patrick Lee, director of Frieze Seoul. Photo: Deniz Guzel

“Of course, we hope it will replicate the success of what we have achieved in other cities — the best fairs facilitate dialogue and lasting relationships.

"The art world has its own wonderful machinations and network. Korea is already an important part of this — as shown by the fact that Frieze Seoul has landed here — but the fair can play a leading role in extending this international reach and continuing the development of the art scene here in Asia.”

In retrospect, it was inevitable. South Korea has become an incredibly wealthy nation over the past 40 years. Cars, electronics and technology companies such as Samsung, Hyundai and LG have generated a huge amount of cash and contemporary art has been a favourite destination for this money.

Lee Kun-hee, the son of the founder of Samsung, amassed an art collection estimated at $1 billion by the time of his death two years ago; 23,000 of these works will be donated to local museums. One of these is the National Museum of Modern and Contemporary Art or MMCA, which now has four branches across the country.

Corporations have also been particularly active in the art scene, such as Hyundai’s gallery in the city and its partnerships abroad, while the highly respected Busan and Gwangju biennials have given the country curatorial credibility.

The National Museum of Modern and Contemporary Art in Seoul. Photo: MMCA/Park JeongHoon
The National Museum of Modern and Contemporary Art in Seoul. Photo: MMCA/Park JeongHoon

Collecting has grown exponentially and is set to continue upwards. South Korea’s new President Yoon Suk-yeol, elected last year, ran on a platform of market-friendly policies, and the country is an efficient place for individuals to buy art, with no VAT on artworks.

Despite South Korea’s strong local art scene and art history, this new era is highly international in character. Seoul has become a destination for a number of blue-chip galleries: since 2016, Lehmann Maupin, Emmanuel Perrotin, Pace, Thaddaeus Ropac and Konig Galerie have all opened branches. Barbara Gladstone also has an office, and last year, the smaller Los Angeles space Various Small Fires also opened a site.

Jason Haam, who opened his eponymous gallery in Seoul five years ago, says that the recent boom in art activity has been shaped by a generation of the art world who are looking outward.

“A lot of people seem to think that this [collecting boom] is happening out of thin air, but it really started from Art Basel Hong Kong,” he explains. “We’re a small country. We have 50 million people, but it's still one-fourth the size of California by land. So we are always eager to know what's outside of our country, and we always want to engage with the bigger communities like China or the US.”

Jason Haam started his gallery in Seoul five years ago and shows a mostly international roster of artists, such as Urs Fischer, Sarah Lucas and Daniel Sinsel. Photo: Jason Haam
Jason Haam started his gallery in Seoul five years ago and shows a mostly international roster of artists, such as Urs Fischer, Sarah Lucas and Daniel Sinsel. Photo: Jason Haam

The mention of Hong Kong is divisive in Seoul, which is keen not to be seen in competition with the Asian city-state. But the comparison is inevitable. For years, Art Basel Hong Kong was the major fair in Asia, run by Frieze’s rival. The fair has suffered, though, during both the pandemic and the civil unrest in the city-state, as China moves to bring the territory closer under its laws. Its event last May was still hybrid and many gallerists and collectors have ceased visiting.

Lee, Frieze’s director, bristles against the idea that Seoul’s rise comes at Hong Kong’s loss.

“Asia is a huge place and Seoul is vastly different from Hong Kong, so I don’t think it’s a case that if one benefits it’s to the detriment of the other,” he says. “There is scope for multiple cities to be destinations in their own right.”

However, for the moment, the demise of Art Basel Hong Kong has left a void that Frieze Seoul can productively fill.

Frieze Seoul itself is larger than the Los Angeles and New York outings. The galleries are spread across three sections of a main fair, including a Frieze Masters section for work from antiquity through to the 20th century, and a Focus Asia section for galleries younger than 12 years.

As is typical of Frieze, the works skew towards global art. While the Korean art scene has major international stars, both historical and contemporary, such as Lee Bul, Do Ho Suh and Lee Ufan, the artists in the fair are the cross-section of big names across the world, such as Gagosian’s group show including Albert Oehlen, Richard Serra, Ed Ruscha and Takashi Murakami.

Mariane Ibrahim, from Chicago, is presenting younger artists such as Amoako Boafo, Yukimasa Ida and Peter Uka. And Stephen Friedman in London has a female-only presentation, with artists such as Mamma Andersson, Leilah Babirye and Hulda Guzman.

Museums and galleries across town are also hosting major shows and parties to welcome the influx of visitors. In a choice that reflects long-standing ties between South Korea and California, Emmanuel Perrotin's gallery is showing the San Francisco artist Barry McGee. Even local galleries skew more established: Haam’s gallery show is by Swiss mega-artist Urs Fischer.

Frieze Seoul is also being held in partnership with Kiaf, the Korean International Art Fair, which was established in 2002 — one ticket gains entry to both fairs, which have signed a five-year agreement together. Building on Frieze's ability to draw in a top tier of galleries and collectors internationally, Frieze Seoul is ultimately seeking to replicate its Frieze Week London on Korean soil.

“The wind is certainly blowing in this direction,” says Haam. “Artists are wanting to show and the appetite is there. The whole artwork will be there — journalists will be there, collectors will be there, institutions will be there. We’ll have access to a much bigger audience than we ever had before. Things that never happened here are now happening.”

Frieze Seoul runs from Friday to next Monday at Coex in the Gangnam district of the city, alongside Kiaf Seoul, operated by the Galleries Association of Korea

Pharaoh's curse

British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.

The specs

Engine: 2.0-litre four-cylinder turbo

Power: 178hp at 5,500rpm

Torque: 280Nm at 1,350-4,200rpm

Transmission: seven-speed dual-clutch auto

Price: from Dh209,000 

On sale: now

Switching%20sides
%3Cp%3EMahika%20Gaur%20is%20the%20latest%20Dubai-raised%20athlete%20to%20attain%20top%20honours%20with%20another%20country.%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVelimir%20Stjepanovic%20(Serbia%2C%20swimming)%20%3C%2Fstrong%3E%0D%3Cbr%3EBorn%20in%20Abu%20Dhabi%20and%20raised%20in%20Dubai%2C%20he%20finished%20sixth%20in%20the%20final%20of%20the%202012%20Olympic%20Games%20in%20London%20in%20the%20200m%20butterfly%20final.%20%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EJonny%20Macdonald%20(Scotland%2C%20rugby%20union)%20%3C%2Fstrong%3E%0D%3Cbr%3EBrought%20up%20in%20Abu%20Dhabi%20and%20represented%20the%20region%20in%20international%20rugby.%20When%20the%20Arabian%20Gulf%20team%20was%20broken%20up%20into%20its%20constituent%20nations%2C%20he%20opted%20to%20play%20for%20Scotland%20instead%2C%20and%20went%20to%20the%20Hong%20Kong%20Sevens.%20%0D%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESophie%20Shams%20(England%2C%20rugby%20union)%20%3C%2Fstrong%3E%0D%3Cbr%3EThe%20daughter%20of%20an%20English%20mother%20and%20Emirati%20father%2C%20Shams%20excelled%20at%20rugby%20in%20Dubai%2C%20then%20after%20attending%20university%20in%20the%20UK%20played%20for%20England%20at%20sevens.%20%0D%3C%2Fp%3E%0A
ULTRA PROCESSED FOODS

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- Margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars

- Energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- Infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes

- Many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts

Brief scoreline:

Liverpool 2

Keita 5', Firmino 26'

Porto 0

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions

First Person
Richard Flanagan
Chatto & Windus 

Scoreline

Al Wasl 1 (Caio Canedo 90 1')

Al Ain 2 (Ismail Ahmed 3', Marcus Berg 50')

Red cards: Ismail Ahmed (Al Ain) 77'

You might also like
Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

How%20I%20connect%20with%20my%20kids%20when%20working%20or%20travelling
%3Cp%3E%0D%3Cstrong%3ELittle%20notes%3A%20%3C%2Fstrong%3EMy%20girls%20often%20find%20a%20letter%20from%20me%2C%20with%20a%20joke%2C%20task%20or%20some%20instructions%20for%20the%20afternoon%2C%20and%20saying%20what%20I%E2%80%99m%20excited%20for%20when%20I%20get%20home.%0D%3Cbr%3E%3Cstrong%3EPhone%20call%20check-in%3A%20%3C%2Fstrong%3EMy%20kids%20know%20that%20at%203.30pm%20I%E2%80%99ll%20be%20free%20for%20a%20quick%20chat.%0D%3Cbr%3E%3Cstrong%3EHighs%20and%20lows%3A%20%3C%2Fstrong%3EInstead%20of%20a%20%E2%80%9Chow%20was%20your%20day%3F%E2%80%9D%2C%20at%20dinner%20or%20at%20bathtime%20we%20share%20three%20highlights%3B%20one%20thing%20that%20didn%E2%80%99t%20go%20so%20well%3B%20and%20something%20we%E2%80%99re%20looking%20forward%20to.%0D%3Cbr%3E%3Cstrong%3EI%20start%2C%20you%20next%3A%20%3C%2Fstrong%3EIn%20the%20morning%2C%20I%20often%20start%20a%20little%20Lego%20project%20or%20drawing%2C%20and%20ask%20them%20to%20work%20on%20it%20while%20I%E2%80%99m%20gone%2C%20then%20we%E2%80%99ll%20finish%20it%20together.%0D%3Cbr%3E%3Cstrong%3EBedtime%20connection%3A%20%3C%2Fstrong%3EWake%20up%20and%20sleep%20time%20are%20important%20moments.%20A%20snuggle%2C%20some%20proud%20words%2C%20listening%2C%20a%20story.%20I%20can%E2%80%99t%20be%20there%20every%20night%2C%20but%20I%20can%20start%20the%20day%20with%20them.%0D%3Cbr%3E%3Cstrong%3EUndivided%20attention%3A%20%3C%2Fstrong%3EPutting%20the%20phone%20away%20when%20I%20get%20home%20often%20means%20sitting%20in%20the%20car%20to%20send%20a%20last%20email%2C%20but%20leaving%20it%20out%20of%20sight%20between%20home%20time%20and%20bedtime%20means%20you%20can%20connect%20properly.%0D%3Cbr%3E%3Cstrong%3EDemystify%2C%20don%E2%80%99t%20demonise%20your%20job%3A%20%3C%2Fstrong%3EHelp%20them%20understand%20what%20you%20do%2C%20where%20and%20why.%20Show%20them%20your%20workplace%20if%20you%20can%2C%20then%20it%E2%80%99s%20not%20so%20abstract%20when%20you%E2%80%99re%20away%20-%20they%E2%80%99ll%20picture%20you%20there.%20Invite%20them%20into%20your%20%E2%80%9Cother%E2%80%9D%20world%20so%20they%20know%20more%20about%20the%20different%20roles%20you%20have.%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
Itcan profile

Founders: Mansour Althani and Abdullah Althani

Based: Business Bay, with offices in Saudi Arabia, Egypt and India

Sector: Technology, digital marketing and e-commerce

Size: 70 employees 

Revenue: On track to make Dh100 million in revenue this year since its 2015 launch

Funding: Self-funded to date

 

Anghami
Started: December 2011
Co-founders: Elie Habib, Eddy Maroun
Based: Beirut and Dubai
Sector: Entertainment
Size: 85 employees
Stage: Series C
Investors: MEVP, du, Mobily, MBC, Samena Capital

MATCH INFO

Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

Games on BeIN Sports

DUNGEONS%20%26%20DRAGONS%3A%20HONOR%20AMONG%20THIEVES
%3Cp%3EDirectors%3A%20John%20Francis%20Daley%20and%20Jonathan%20Goldstein%3Cbr%3EStars%3A%20Chris%20Pine%2C%20Michelle%20Rodriguez%2C%20Rege-Jean%20Page%2C%20Justice%20Smith%2C%20Sophia%20Lillis%3Cbr%3ERating%3A%203%2F5%3C%2Fp%3E%0A
The specs: 2018 Audi RS5

Price, base: Dh359,200

Engine: 2.9L twin-turbo V6

Transmission: Eight-speed automatic

Power: 450hp at 5,700rpm

Torque: 600Nm at 1,900rpm

Fuel economy, combined: 8.7L / 100km

What can victims do?

Always use only regulated platforms

Stop all transactions and communication on suspicion

Save all evidence (screenshots, chat logs, transaction IDs)

Report to local authorities

Warn others to prevent further harm

Courtesy: Crystal Intelligence

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

The biog

Age: 59

From: Giza Governorate, Egypt

Family: A daughter, two sons and wife

Favourite tree: Ghaf

Runner up favourite tree: Frankincense 

Favourite place on Sir Bani Yas Island: “I love all of Sir Bani Yas. Every spot of Sir Bani Yas, I love it.”

Updated: September 01, 2022, 10:16 AM