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Korean art magnate steps in to revive auction house

  • March 18, 2010 12:11
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Lee Ho-jae sits in a hall at Seoul Auction in Jongno District, where a design auction will be held April 17. By Shin In-seop.

Lee Ho-jae, 59, is a superstar in the Korean art world. He is chairman of Gana Art Gallery and recently was named co-chief executive officer of Seoul Auction, a company he founded in 1998.

Lee hopped aboard to steer the auction house with a new strategy to halt a steady downhill trend in the company's stock value, now at one-third of the initial price offering.

His plans include diversifying the auction portfolio with new categories such as photography and design.

Read more at Joongang Daily

Tags: Asian art korean art contemporary art
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