Recently, major media outlets including The New York Times, the international contemporary art platform Ocula, and ARTnews have extensively reported on the large-scale restructuring of Pace Gallery, one of the world’s leading mega-galleries. In particular, remarks by Pace CEO Marc Glimcher describing the current gallery model as not merely “broken” but effectively “unfixable” have sent ripples throughout the global art world.

Fine art engages with society, the market, and institutions, but its mode of existence cannot be reduced to commodity production or the provision of services. An artist is not someone who produces works in order to satisfy the demands of a specific customer, and an artwork is not a product made to provide functional utility

On April 30, 2026, all five members of the international jury for《In Minor Keys》, the 61st International Art Exhibition of the Venice Biennale, resigned just nine days before the exhibition’s opening. Led by jury president Solange Oliveira Farkas, the jury members Zoe Butt, Elvira Dyangani Ose, Marta Kuzma, and Giovanna Zapperi released a brief statement of resignation through e-flux.

Over the past few years, the landscape of the Asian art market has been rapidly reshaped. Seoul has drawn increasing attention from the international art world through Frieze Seoul, Kiaf Seoul, and Seoul Art Week, while Hong Kong, despite political changes and the impact of China’s economic slowdown, continues to maintain its position as a powerful transactional hub.

One of the most striking phenomena in the recent Korean art world is the rapid increase in the number of art fairs. Not only in Seoul, but across the country—in Busan, Daegu, Ulsan, Jeju, Cheongju, and elsewhere—art fairs of differing scales and characters are being held throughout the year. In April of this year alone, as many as four or five art fairs took place almost simultaneously.

Non-profit art spaces in Korean contemporary art began to emerge in the late 1990s. Spaces such as Alternative Space Loop (1999– ), Project Space Sarubia (1999- ), Art Space Pool (1999–Jan 2021), and Insa Art Space (2000–Jun 2025) functioned as platforms for experimental practices and emerging artists that were not accommodated within institutional art, forming a structure that explored new possibilities for artistic production both outside and within institutional frameworks.