Art Basel Hong Kong, Asia's largest art fair, opened at the Hong Kong Convention and Exhibition Centre on Friday. Attention is focused on whether the art market, which showed a moderate recovery last year, can sustain its momentum amid a global economic slowdown and sluggish investment driven by conflicts in the Middle East.
According to industry sources, this year's edition — which kicked off with a VIP preview on Friday — features 240 galleries from 41 countries, a scale similar to last year. More than half of the participating galleries are from the Asia-Pacific region, with 18 Korean galleries taking part.
In the fair's main "Galleries" sector, Arario Gallery, Gallery Baton, Hakgojae Gallery, Johyun Gallery and Leeahn Gallery have set up booths showcasing works by their represented artists. Arario Gallery presents works by Lee Jin-ju, known for her delicate depictions of scenes where memory and the unconscious, truth and fiction intersect through traditional East Asian color painting techniques, alongside works by Baek Jung-ki and Park Woong-kyu. Hakgojae Gallery exhibits works by eight artists including Nam June Paik, Yun Suknam, Song Hyun-sook and Chung Young-joo, assembling a booth of works that transcend era and borders. Johyun Gallery showcases works by artists spanning generations, including Kim Tschang-yeul, Park Seo-bo, Lee Bae and Kang Kang-hoon, while PKM Gallery presents works by Yoo Youngkuk, Yun Hyong-keun, Lee Kun-min and Lee Won-woo. Kukje Gallery features works by Ha Chong-hyun, Kim Yun-shin, Park Chan-kyong, Yang Hae-gue and Chang Pa. Kukje Gallery also highlights the artistic legacy of Kang Seo-kyeong, who passed away last year, through the "Encounters" sector — which places large-scale installations throughout the venue — and the "Kabinett" sector, which presents solo exhibitions within gallery booths.
In the "Discoveries" sector, which focuses on emerging artists, P21 has organized a solo booth for artist Yoo Ye-rim. Through paintings and sculptures centered on an imaginary Neanderthal named "Peter," the booth unfolds a narrative of imaginary excavation. Cylinder Gallery presents artist Kwon Hyun-bin, while Gallery N/A introduces artist Woo Jeong-su. In the "Insights" sector, where galleries present works by only one or two artists, G Gallery (Woo Hannah, Yang Juhae), The Page Gallery (Han Jin) and Sun Gallery (Lee Jung-ji) will set up booths. In the "Echos" sector, which features only recent works produced within the past five years, Whistle Gallery participates with works by artists Hyun Nam, Park Min-ha and San Jung. From the opening VIP preview, sales were secured for works by Ha Chong-hyun — priced in the range of 260 million to 300 million won ($189,000–$218,000) — as well as works by Choi Wook-kyung, Kim Yun-shin, Park Chan-kyong and Yang Hae-gue. Art Basel Hong Kong continues VIP previews through Saturday and opens to the general public from Sunday through Tuesday.
