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Vivienne Chow

South Korea’s New President Has Ordered a $3.7 Billion Investment in the Arts.

Updated: Jul 28, 2022


SEOUL, SOUTH KOREA - MAY 10: South Korean President Yoon Suk-yeol proposes a toast to the foreign guests during an inaugural dinner at a hotel, after his inauguration ceremony at the new presidential office on May 10, 2022 in Seoul, South Korea. President Yoon Suk-yeol took the oath of office Tuesday, vowing to rebuild the nation on the foundation of a liberal democracy and market economy, and offering to revive North Korea's economy with an "audacious plan" should it take steps to denuclearize. (Photo by Jeon Heon-Kyun - Pool/Getty Images)


Not even two months after taking office, South Korea President Yoon Suk-yeol has made a huge investment in the country’s culture: a $3.7 billion fund for film, TV, art, and other cultural projects, as well as plans to transform a historic presidential home into Korea’s answer to France’s Palace of Versailles.

The administration hopes to make South Korea a “culturally attractive country” ahead of the September debut of Frieze Seoul and two Kiaf fairs, as well as the opening of the Busan Biennale.


“The most important role of the culture ministry is to guarantee fair access to culture. When the minister and its affiliates are purchasing artworks, prioritize works by disabled and new artists,” the 61-year-old president said after his first policy briefing meeting with culture minister Park Bo-gyoon on Thursday.

Yoon went on to tell local media that state-owned art collections, such as the 23,000 works amassed by the late Samsung Group chair Lee Kun-hee, should be make available to the public via nationwide tours.



Cheers,


Errol


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