After a period of adjustment, the Korean art market is beginning to move again with the first auctions of 2026. Seoul Auction and K Auction will hold their first auctions of the year on consecutive days, presenting works with a combined estimated value of KRW 14.8 billion (approx. USD 10.2 million). Rather than aggressively expanding volume, both auctions have opted for stable lineups centered on well-established artists and verified works.

 
 
Seoul Auction: 117 Lots, KRW 5 Billion(approx. USD 3.4 million), Park Soo-geun, Contemporary Ceramics, and Antiquities in Balanced Composition
 
Seoul Auction will hold its 189th Fine Art Auction on January 27 at 4:00 p.m. at its Gangnam Center in Seoul. A total of 117 works will be offered, with a low estimate totaling approximately KRW 5 billion (approx. USD 3.4 million). The auction spans a wide range of categories, including Korean modern and contemporary art, international contemporary art, antiques, and contemporary ceramics.

The highlight of the modern art section is Park Soo-geun’s 1964 workMother and Two Women. Featuring a rough surface reminiscent of earthen walls and simplified figures, the painting conveys the everyday lives of ordinary people and the emotional atmosphere of its time. The work is estimated at KRW 480–800 million (approx. USD 331,000–552,000).

Another notable lot in the Seoul Auction January sale is a work by Yun Hyong-keun, a leading figure of Korean Dansaekhwa. His painting Burnt Umber & Ultramarine, executed in oil on linen, presents vertical compositions of deep burnt umber and ultramarine tones.
 
Measuring 95.5 × 44.5 cm, the work exemplifies Yun’s restrained use of color and materiality, condensing his signature aesthetics of existence and silence. The estimate is set at KRW 250–450 million (approx. USD 172,000–310,000).

The contemporary ceramics section also stands out in this auction. Moon jars by contemporary ceramic artists including Kwon Dae-seop, Kang Min-soo, Kim Dong-jun, Lee Yong-soon, and Moon Pyung are prominently featured, signaling an expansion beyond painting-centered auction formats.
 
In the antiques section, works by the late Joseon Dynasty literati painter Sim Sa-jeong—including Pair of Magpies and Pair of Pheasants—are offered, each estimated at KRW 20–60 million (approx. USD 13,800–41,400). Also included is an imperial calligraphy work by Emperor Gojong titled Gijadongnyeon (期自童年), estimated at KRW 30–50 million (approx. USD 20,700–34,500). Together, these works add historical depth and narrative value to the sale.
 
International highlights include Yayoi Kusama’s Pumpkin (AAT), estimated at KRW 730–900 million (approx. USD 503,000–621,000), and Swiss artist Ugo Rondinone’s sculptural work Black White Red Mountain, estimated at KRW 300–400 million (approx. USD 207,000–276,000).
 
Overall, Seoul Auction’s January sale adopts a measured approach, offering a balanced selection across periods and genres as a way to test the market’s direction at the start of the year.
 

Seoul Auction Schedule

- Auction: January 27, 2026, 4:00 p.m.
- Venue: Seoul Auction Gangnam Center
- Preview: January 16–27
- Admission: Free
- Website: https://www.seoulauction.com

K Auction: 94 Lots, KRW 9.8 Billion(approx. USD 6.8 million), From Kim Tschang-yeul and Lee Ufan to Haegue Yang and Lee Bae
 
K Auction will hold its first auction of 2026 on January 28 at 4:00 p.m. at its headquarters in Sinsa-dong, Seoul. A total of 94 works will be offered, with a combined estimated value of approximately KRW 9.8 billion (approx. USD 6.8 million). While the number of lots is smaller than that of Seoul Auction, the total value is higher, reflecting a concentrated selection centered on blue-chip artists.

The centerpiece of the sale is Kim Tschang-yeul’s 1973 work Waterdrops ABS N° 2. Created during the early phase of his waterdrop series while he was living in Paris, the painting features highly refined depictions of transparent yet tactile waterdrops. The work is estimated at KRW 900 million–1.4 billion (approx. USD 621,000–966,000).
 
A large-scale Dialogue painting by Lee Ufan is also included. Measuring 100-ho in size, the work employs minimal brushstrokes to articulate tension between space and emptiness. The estimate is set at KRW 890 million–1.4 billion (approx. USD 614,000–966,000).
 
Works by contemporary Korean artists Haegue Yang and Lee Bae are also part of the sale.

Haegue Yang’s Towel Light Sculpture – Budget Pantomime of 600 Dollar, 700 Euro and 22000 Yen sculptural installation from 2012 combines everyday industrial materials such as clothing racks, light bulbs, cables, and printed towels into a mobile structure integrated with lighting. The work is estimated at KRW 70–150 million (approx. USD 48,000–103,000).

Lee Bae’s Issu du Feu H13 is a charcoal-on-canvas painting in which layers of charcoal accumulate to form dense black surfaces, emphasizing materiality and physical energy. The work is estimated at KRW 140–250 million (approx. USD 97,000–172,000).

Also included are works by Chun Kyung-ja and Lee Seong-ja, along with drawings and small works by Kim Whanki, Lee Jung-seob, and Park Soo-geun. These pieces offer collectors access to the artists’ formal languages and ideas at relatively accessible price points.
 
Internationally, five works by Yayoi Kusama are presented in the sale. The canvas painting Butterflies “TWAO”, featuring her signature polka dots combined with butterfly imagery, will open bidding at KRW 1 billion (approx. USD 690,000). Her 1982 painting Dress is estimated at KRW 500–800 million (approx. USD 345,000–552,000). Several prints are also included, covering a broader range of price levels.
 
K Auction’s January sale is positioned as an indicator of early 2026 market trends, emphasizing verified blue-chip artists and leading figures in Korean contemporary art.
 

K Auction Schedule

- Auction: January 28, 2026, 4:00 p.m.
- Venue: K Auction Headquarters, Sinsa-dong, Seoul
- Preview: January 17–28
- Admission: Free
- Website: https://www.k-auction.com