Art meets fintech: Nouveau Soleil pioneers financial future of art sector

19.07.25 00:02 Uhr

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The Korean art market continues to grapple with structural challenges stemming from information asymmetry and a lack of price transparency, as details regarding transaction parties and prices are rarely disclosed. Nevertheless, artworks are increasingly being recognized not only as objects of appreciation but also as assets used for inheritance, donations and investment. In line with this shift, the market has shown rapid growth. According to the report published by the Korea Arts Management Service, the total transaction volume of the domestic art market surged from 329 billion won ($238 million) in 2021 to 922.3 billion won in 2022, nearly a threefold increase in just one year. Regulatory changes are also underway. The Art Promotion Act, which took effect in July 2024, requires more systematic management and greater transparency in the operation of artworks, particularly within public institutions. As a result, demand is growing for tools that enable objective, data-driven valuation of artworks. In response to this trend, Korean startup Nouveau Soleil officially launched its platform,Weiter zum vollständigen Artikel bei Korea Times

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Quelle: Korea Times

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