As part of the set conditions of Government’s new culture policy for creative art activity, which has been announced in October 1998, Korean Galleries of Association was selected as International Art Fair Participation Sponsor Business auxiliary business operator. For the invigoration of the international art market, the government responded to our association’s strong policy request with a plan for support of 2 billion dollars worth of government subsidies, which is used as membership fee, along with to effectively carry out such goals a steering committee based on the Ministry of Culture and Tourism’s “International sponsor business basic policies” was composed, fair participation opportunities are offered and within the participation fees expenses that can be objectively calculated (booth fees..etc) are partially reimbursed. Participating subjects and aids are distributed with a fixed ratio.
Korean Art show opened in 2010 in New York where Korean representing galleries participate and spread Korea Art’s excellence and uniqueness, which has been increasing competition. Also, as Asia’s typical art fair and as the take-off stage for Korea Art’s entrance to the international market, KIAF has actively been publicized to become an international art fair. Effort is done to create a way annually for global art’s new art markets and subsidies are used to support participating galleries.