KCI등재후보
한국 미술시장과 경기변동 ―2005~2009년 미술시장을 중심으로 = The Korean Art Market and Business Cycles between 2005 and 2009
Recent growth of the Korean art market reached its peak at the end of
2007, when the global economy and art markets experienced booms,
having started its growth when an oligopolistic market structure of auction
houses developed from the end of 2005. During this period, Korea's
representative art fair, KIAF had grown 209% annually for 3 years, galleries
traded art works through various exhibitions and art fairs, and the number
of auction houses increased rapidly as the amounts of successful bids
expanded. However, the domestic art market sharply declined at the end
of 2007 when the global economy went into a recession, experiencing a
serious depression in 2008 and up until the first quarter of 2009.
The objective of this research is to enhance understandings about
changes in the size of the Korean art market, its relationship with business
cycles and implications by examining the expansion and contraction
phases of the market, viewing the 2005-2009 period as a business cycle.
For this goal, this paper utilizes the statistics on the total sales of major
galleries recorded in the electronic public notice system of the Financial
Supervisory Service, the publicly-announced amounts of sales of art fairs,
and amounts of successful bids in the auction markets, art funds, exports
and imports of art works shown on the Korea Customs Service homepage. This paper focuses on measuring the market size and its change for 5
years of recovery, boom, contraction and depression, dividing the period
into the boom and development phase of the art market from 2005 to 2007
and the depression and structural change phase in 2008 and 2009. It also
shows that the boom and bust of the domestic art market involved the
effects of economic factors, major art-related socio-political events, and the
vulnerability and problems of domestic art markets.
During the boom, there was growth factors such as economic factors,
the impact of cultural industry development, and internal market changes,
which led to the increases in the sales and number of galleries and their
overseas branches, establishments of auction houses, amounts of
successful bids, the debut of art funds and the provision of art works by
private banking centers of commercial banks and department stores.
In the depression period, we could observe market disturbances from
decreases in exhibitions and sales of galleries, sharp declines in the
amounts of successful bids, plummeting exports and imports due to the
global economic recession and soaring oil prices. Yet, we should mention
some positive factors for development such as informationization of the
market, increased research, and forecasts for recovery, etc.
The domestic art market has changed dramatically through the business
cycle, and the government, firms and individuals participating in the
market obtained the valuable knowledge on recovery of trust,
establishment of the appraisal system, price determination, cultivation and
training of art-market experts, cooperation of art museums and art markets,
etc. The most crucial implication is that the art market also experiences
changes linked to other capital markets such as securities and real estate
markets and the national and global economy.
Recent growth of the Korean art market reached its peak at the end of
2007, when the global economy and art markets experienced booms,
having started its growth when an oligopolistic market structure of auction
houses developed from the end of 2005. During this period, Korea's
representative art fair, KIAF had grown 209% annually for 3 years, galleries
traded art works through various exhibitions and art fairs, and the number
of auction houses increased rapidly as the amounts of successful bids
expanded. However, the domestic art market sharply declined at the end
of 2007 when the global economy went into a recession, experiencing a
serious depression in 2008 and up until the first quarter of 2009.
The objective of this research is to enhance understandings about
changes in the size of the Korean art market, its relationship with business
cycles and implications by examining the expansion and contraction
phases of the market, viewing the 2005-2009 period as a business cycle.
For this goal, this paper utilizes the statistics on the total sales of major
galleries recorded in the electronic public notice system of the Financial
Supervisory Service, the publicly-announced amounts of sales of art fairs,
and amounts of successful bids in the auction markets, art funds, exports
and imports of art works shown on the Korea Customs Service homepage. This paper focuses on measuring the market size and its change for 5
years of recovery, boom, contraction and depression, dividing the period
into the boom and development phase of the art market from 2005 to 2007
and the depression and structural change phase in 2008 and 2009. It also
shows that the boom and bust of the domestic art market involved the
effects of economic factors, major art-related socio-political events, and the
vulnerability and problems of domestic art markets.
During the boom, there was growth factors such as economic factors,
the impact of cultural industry development, and internal market changes,
which led to the increases in the sales and number of galleries and their
overseas branches, establishments of auction houses, amounts of
successful bids, the debut of art funds and the provision of art works by
private banking centers of commercial banks and department stores.
In the depression period, we could observe market disturbances from
decreases in exhibitions and sales of galleries, sharp declines in the
amounts of successful bids, plummeting exports and imports due to the
global economic recession and soaring oil prices. Yet, we should mention
some positive factors for development such as informationization of the
market, increased research, and forecasts for recovery, etc.
The domestic art market has changed dramatically through the business
cycle, and the government, firms and individuals participating in the
market obtained the valuable knowledge on recovery of trust,
establishment of the appraisal system, price determination, cultivation and
training of art-market experts, cooperation of art museums and art markets,
etc. The most crucial implication is that the art market also experiences
changes linked to other capital markets such as securities and real estate
markets and the national and global economy.
분석정보
연월일 | 이력구분 | 이력상세 | 등재구분 |
---|---|---|---|
2027 | 평가예정 | 재인증평가 신청대상 (재인증) | |
2021-01-01 | 평가 | 등재학술지 유지 (재인증) | KCI등재 |
2018-01-01 | 평가 | 등재학술지 선정 (계속평가) | KCI등재 |
2017-12-01 | 평가 | 등재후보로 하락 (계속평가) | KCI후보 |
2013-01-01 | 평가 | 등재 1차 FAIL (등재유지) | KCI등재 |
2010-01-01 | 평가 | 등재학술지 선정 (등재후보2차) | KCI등재 |
2009-01-01 | 평가 | 등재후보 1차 PASS (등재후보1차) | KCI후보 |
2007-01-01 | 평가 | 등재후보학술지 선정 (신규평가) | KCI후보 |
기준연도 | WOS-KCI 통합IF(2년) | KCIF(2년) | KCIF(3년) |
---|---|---|---|
2016 | 0.71 | 0.71 | 0.71 |
KCIF(4년) | KCIF(5년) | 중심성지수(3년) | 즉시성지수 |
0.56 | 0.5 | 1.497 | 0 |
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---|---|---|
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