Art Busan successfully raises first investment round... securing foundation for expanding domestic art market base and the fair's global expansion
Summary
Koreas leading fashion platform Musinsa and global mobility group CTR have also joined this initial investment round.Through this round of investment, Art Busan has successfully secured the optimal strategic partnership base required to expand its existing art fair business to Seoul and the global market. At the same time, it has positioned itself to operate a diverse range of new ventures within the on and offline sectors of the international art markets, which require strategic alliance.Art Busan was established in 2011 with the ambition to transform the culturally marginalized city of Busan into a city of culture. Kelvin Dongho Kim, CEO of Korea Credit Data added that "I was strongly attracted by Art Busans founding story and how the local fair from Busan has grown into Koreas leading art fair brand. I am excited to join this investment round as I wanted to contribute to the companys vision of becoming a global art brand. "As a significant step in its full-scale business expansion and global leap, Art Busan will unveil the first edition of the premium design and art fair, DEFINE SEOUL, in the Seongsu district of Seoul from November 1st to 5th.