Frieze Seoul’s fifth edition opened in a subdued art market, where prolonged uncertainty has made collectors more cautious and galleries more attentive to affordability. Held from September 2 to 5 at the Coex centre in Gangnam, the fair introduced new sections aimed at attracting buyers in a more austere market.Patrick Lee, director of Frieze Seoul, said the slowdown in the art market had been protracted, with established collectors taking a more measured approach amid broader macroeconomic uncertainty. He also noted that the influence of younger buyers had often been overstated.“There was a spurt of speculators, crypto investors and the like who generated a lot of activity during the pandemic,” he said. “And then they realised they couldn’t sell art like shares in the stock market.”Even so, he said, the four-day fair had attracted a curious and engaged new generation of collectors. Galleries, he added, had responded by diversifying their offerings and introducing more accessible entry points.Frieze Seoul director Patrick Lee said this year’s fair attracted a new generation of curious collectors for whom more pieces were affordable. Photo: Enid TsuiThe Korea International Art Fair (Kiaf) took place from September 2 to 6 on a different level of the same building as Frieze, with the two events sharing entry passes.