New auction record for South Korean art

breaking former record set by the artist earlier this year

Kim Whan-Ki, Untitled12-V-70 #172, 1970, news 1 Dec 2016. Courtesy Gallery Hyundai

A painting by artist Kim Whan-ki (1913-1974) has again broken the auction record price for a work by a Korean artist, The Korean Times reports. Kim's painting 12-V-70 #172 sold for 6.32 billion won (£4.2 million) at Seoul Auction's 20th Hong Kong sale at the Hong Kong Grand Hyatt, beating its estimate of  4.5–5.8 billion won and also beating the former record price of 5.4 billion won, also set by a work by Kim in a sale in June.

Kim Yoon-sub, director of the Korean Arts Management Institute, is quoted as saying that 'Korean modern art is gaining recognition globally as veteran Dansaekhwa artists and younger contemporary generation artists such as Lee Bul and Suh Do-ho are acknowledged overseas."

1 December 2016