As the domestic art market grew, wealthy people also became more interested in art. In particular, i.. 

Purchasing more than KRW 3 billion in financial assets and more than half of art People in their 30s and 40s are particularly willing to purchase expensive art. Commercial Bank Participates in Art Exhibition and Sculpture Investment Platform Project View of the exhibition room on the 2nd floor of Hana Bank’s H.art1 Open Storage <Photo = Hana Bank> As the domestic art market grew, wealthy people also became more interested in art. In particular, it was analyzed that the larger the financial assets and the younger generation, the greater the tendency to purchase expensive art. It was found that commercial banks are carrying out related activities to secure VIP customers with many financial assets and to differentiate asset management (WM) services.According to the Hana Financial Research Institute’s “Finance in Art” report on the 4th, the larger the size of financial assets held, the higher the interest in art and the higher the proportion of art purchases from the perspective of collection and investment. According to the research institute’s VIP Perception Survey on Art Banking, only 15.6% of respondents said they were “very interested in art” when their financial assets were less than 500 million won, but rose to 30.5% when they were more than 3 billion won. In addition, 22.1% of people had experience in purchasing art if their financial assets were less than 500 million won, but 54.2% of those with more than 3 billion won accounted for nearly half.The size of the domestic art market has changed structurally due to the expansion of the proportion of auctions and art fairs in the distribution and transaction structure, which was centered on galleries. The size of the domestic art market was only 330 billion won in 2020, but it was counted as 860 billion won in 2023, and the proportion of art fairs also increased from 14.3% to 33.4% during the same period. Frieze, one of the world’s top three art fairs, was held in Seoul for the first time in Asia in 2022, and global art galleries, galleries, and auctions entered Korea, raising interest in the art market. Whether or not to hold art by size of financial assets held and the motivation for purchasing art by size of financial assets held <data = Hana Financial Research Institute> The larger the size of financial assets, the more they approach art from the perspective of investment. According to the perception survey data, 41.1% of financial assets of less than 500 million won said they were for “space interior purposes,” but 35.7% of those with more than 3 billion won said they loved and collected art. The response that art was purchased for short- and long-term investment purposes was 4.6% when financial assets were less than 500 million won, but rose to 12.6% for more than 10 billion won.The younger generation, the higher the willingness to purchase art and the higher the demand for expensive works. In the future, the intention to purchase art wa