RM of K-pop boy band BTS is an influential art collector who champions South Korean artists and has amassed a multimillion-dollar private collection. Reuters
RM of K-pop boy band BTS is an influential art collector who champions South Korean artists and has amassed a multimillion-dollar private collection. Reuters
RM of K-pop boy band BTS is an influential art collector who champions South Korean artists and has amassed a multimillion-dollar private collection. Reuters
RM of K-pop boy band BTS is an influential art collector who champions South Korean artists and has amassed a multimillion-dollar private collection. Reuters

How RM of K-pop group BTS became one of the art world’s biggest and youngest influencers


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As a member of one of the world’s biggest boy bands, BTS’s RM, 28, has amassed an estimated $22 million fortune, according to reports.

But RM, whose initials stand for “Rap Monster” and whose real name is Kim Namjoon, hasn’t taken the traditional wealthy young musician’s route of spending his money on fast cars and big houses.

Instead, he has become one of the art world’s biggest and youngest influencers, putting together a personal collection that includes works by South Korean artist Yun Hyong-keun, American minimalist Joel Shapiro and most recently a $1.2 million sculpture by American multidisciplinary artist Roni Horn.

Instagramming his private collection

For the past few years, RM has been sharing his acquisitions both on Instagram and in videos on YouTube where he maintains a vlog about his life and travels.

“I think young people these days use their Instagram feed to represent themselves,” he told Artnews. “My Instagram account is literally ‘just an archive’ about myself. I’m sure that people are familiar with RM as a public figure on stage … This is an archive for both RM and Kim Namjoon, and I’m also doing it for myself in the future.”

Investing in his financial future has resulted in him travelling the world on art-buying trips. He shared a video in July of his trip to the Art Basel art fair in Switzerland, as well as the Vitra Design Museum, saying: “I’m here to see the chairs.”

Taking in furniture by Eames and Alexander Girard, he also admired work by Tadao Ando and Jean Prouve.

Calling Art Basel the “world’s greatest art fair”, he said: “I’ve been to art fairs in Korea a few times, but I’ve always wanted to visit Art Basel when abroad."

Championing South Korean artists

Chief among RM’s collection are pieces by South Korean artists. He has shared two pieces he owns by Yun Hyong-keun on social media and champions the work of modernist Lee Bae.

During his trip to Art Basel, he highlighted pieces by Do Ho Suh, Lee Seung Jio, Yoo Youngkuk and Nam June Paik, the latter of whom has emerged as one of the singer’s favourite artists. He also attended the Kukje Gallery in Seoul for a recent Yoo exhibition.

Once you develop your own taste and know what type of art or artist you like, you will have better eyes in discerning them
RM

“I tend to choose an exhibition that is featuring my favourite artist, or a place that I’ve been curious about, such as the Guggenheim Museum and the Glenstone Museum,” he told Artnews. “In Korea, I visit museums that feature the artworks of modern and contemporary Korean artists. When I’m abroad, I choose based on the space and artists themselves.

“I like to think about how different spaces give the artwork a different energy and feeling. When seeing works of Korean artists in foreign countries, nationality doesn’t count so much. But I can definitely say that seeing Yun Hyong-keun’s works at the Palazzo Fortuny in Venice and exhibited alongside Donald Judd’s works at the Chinati Foundation left me in awe.”

Inspiring art appreciation in fans and Gen Z

RM sharing his appreciation for art has resulted in an uptick in visitors to the museums and galleries he promotes.

The effect even has a name: “Namjooning”, in which fans, known at the BTS Army, partake in RM’s hobbies and passions and post photos of themselves on social media using the hashtag.

Many establishments have experienced the effects of #namjooning. The Rothko Chapel and The Menil Collection in Houston, Texas, and contemporary art museum The Broad in Los Angeles have all reported an increase in visitors keen to replicate photos RM posted of himself during his visits.

At Washington National Gallery of Art, after the singer shared a photo of himself sat on a bench alongside a selection of his favourite works — including by Claude Monet, Amedeo Modigliani and Paul Cezanne — the gallery experienced a huge increase in Instagram followers.

As well as collecting, RM has also stepped into the role of art supporter. In 2020 he donated 100 million South Korean won (about $73,000) to Seoul's National Museum of Modern and Contemporary Art (MMCA) so it could reissue out-of-print art books for libraries. The act resulted in RM being named as Art Sponsor of the Year by Arts Council Korea.

“We are very happy that RM, who has a high global influence, is an art lover,” said the MMCA’s director Youn Bummo in a statement about the donation.

Gaining the respect of the art world

RM told the Intersections: The Art Basel Podcast that his art collection "really gives me a standard by which to live as a better man and a better adult".

"I just want to make timeless music that I admire," he said.

Not only has he been able to introduce his legion of fans to contemporary art, he has also earned the admiration of the art world for his knowledge and enthusiasm.

Korean art dealer Park Kyung-mee, who owns the influential PKM Gallery in Seoul, said the singer has made art more accessible to younger people and the public by sharing his experiences on social media and via his vlog. “He is throwing away the kind of barrier between the art institutions — galleries and museums — and younger people."

RM told The New York Times of his art collection: “I feel like they’re watching me. I’m motivated. I want to be a better person, a better adult, because there is this aura that is coming from these artworks on display. [When I'm feeling] tired or let down, I sometimes stand there and have a conversation."

Of his future plans for his own public art space, he told the newspaper: “I want it to be really quiet and calm, but it must still look cool. I think that there’s something that I can offer as an outsider of the art industry."

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

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Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

PROFILE

Name: Enhance Fitness 

Year started: 2018 

Based: UAE 

Employees: 200 

Amount raised: $3m 

Investors: Global Ventures and angel investors 

MATCH INFO

Barcelona 4 (Messi 23' pen, 45 1', 48', Busquets 85')

Celta Vigo 1 (Olaza 42')

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.”

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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UAE currency: the story behind the money in your pockets
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The Sand Castle

Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

Rating: 2.5/5

The drill

Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.

Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”

Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”

Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.” 

UJDA CHAMAN

Produced: Panorama Studios International

Directed: Abhishek Pathak

Cast: Sunny Singh, Maanvi Gagroo, Grusha Kapoor, Saurabh Shukla

Rating: 3.5 /5 stars

Updated: September 16, 2022, 4:03 AM