Seoul, tokyo, shanghai: How french galleries are breaking into the asian market

Asia is no longer a distant El Dorado for European galleries but a complex playing field where colossal opportunities intertwine with cultural pitfalls. Between Shanghai’s speculative frenzy, Japan’s taste for minimalism, and South Korea’s enthusiasm for new technologies, each city demands a tailored approach. Here’s how French galleries are adapting to these markets—with their successes, failures, and lessons for those looking to follow their lead.

01When history dictates strategy: the weight of the past on Asian markets

Understanding the expansion of French galleries in Asia requires rewinding to the 1990s, when Hong Kong became the continent’s first art hub. Its handover to China in 1997 and its status as a free port (with no VAT on artworks) turned it into a magnet for collectors worldwide. “Hong Kong served as a laboratory for Western galleries,” explains Sophie Makariou, former director of the Asian arts department at the Louvre. “That’s where Perrotin tested its model before expanding to Shanghai and Seoul.”

Japan presents a radically different case. After the economic bubble burst in 1991, Tokyo’s art market retreated for two decades. “French galleries that succeeded in Japan had to adopt an almost anthropological approach,” notes Parisian gallerist Thaddaeus Ropac. “They studied the codes of local collectors, like their preference for small-format works suited to urban apartments.”

In South Korea, the rise of a dynamic art market coincided with the economic ascent of the chaebols (family-run conglomerates) in the 2000s. “First-generation Korean collectors, like major tech brands’s Lee Kun-hee, amassed Western art as status symbols,” observes Kim Inhye, director of Kukje Gallery in Seoul. “Today, the new generation seeks to support local artists, creating a hybrid demand that French galleries must learn to navigate.”

02Seoul: the Korean gamble of French galleries

South Korea’s capital has become the preferred playground for European galleries in just a few years. With an art market growing at 12% annually since 2020 (source: Korea Arts Management Service), Seoul offers a unique ecosystem where traditional collectors, K-pop enthusiasts, and tech-savvy investors intersect.

Galerie Perrotin opened its first Korean space in 2017 in the former Chelsea Hotel, an art deco building transformed into a temple of contemporary art. “We chose this location for its history and its proximity to Gangnam, where the chaebols are headquartered,” explains gallery director Joseph Back. The success was immediate: Takashi Murakami’s inaugural exhibition set sales records, with several works acquired by heirs of major industrial groups.

Another French player in Seoul, Galerie Templon, took a more discreet approach by settling in Hannam-dong. “We focus on partnerships with local institutions like the MMCA (National Museum of Modern and Contemporary Art) to gain visibility,” confides director Jérôme de Noirmont. This strategy paid off during the 2022 exhibition Claude Viallat: Retrospective, which drew over 30,000 visitors.

Yet French galleries must contend with a fiercely competitive Korean market. “Local collectors are extremely well-informed and systematically compare prices with those in Hong Kong or New York,” notes an art dealer based in Seoul. To stand out, some galleries are betting on emerging Korean artists, like the young painter Yoo Youngkuk, whose abstract works were exhibited at Almine Rech in 2023.

03Tokyo: the art of seducing a mature and demanding market

Unlike Seoul or Shanghai, Tokyo boasts an art market over a century old, with its own codes and seasoned collectors. “French galleries that succeed in Japan understand that local collectors aren’t just looking for artworks—they want a complete cultural experience,” explains Mami Kataoka, artistic director of the Mori Art Museum.

Galerie Chantal Crousel opened a temporary space in Tokyo in 2021, collaborating with local gallery Tomio Koyama. “We organized a joint exhibition featuring French artist Philippe Parreno and Japanese artist Tatsuo Miyajima,” recounts the gallerist. “This approach fostered a dialogue between the two art scenes, which particularly appealed to Japanese collectors.”

Another quirk of the Tokyo market is its preference for small-format works and limited editions. “Japanese apartments are often compact, which shapes collectors’ tastes,” notes Parisian gallerist Kamel Mennour. His gallery adapted its strategy by offering works on paper and small sculptures during pop-up stores in Tokyo.

French galleries must also navigate a highly structured artistic ecosystem, dominated by institutions like the Mori Art Museum or Kanazawa’s 21st Century Museum of Contemporary Art. “To break through, you need to integrate this network by participating in events like Tokyo Art Week or collaborating with local artist residencies,” advises Sophie Makariou.

04Shanghai: navigating between opportunity and censorship

With over 1,500 galleries and an 18% annual growth rate (source: Art Market Report China 2024), Shanghai represents both the greatest potential and the greatest challenge for French galleries. “The city has become the epicenter of contemporary art in China, but it demands a nuanced understanding of local rules,” explains Parisian gallerist Daniel Templon.

Galerie Perrotin opened its Shanghai space in 2021 in the West Bund district, which has rapidly become the city’s new artistic heart. “We chose this location for its proximity to major institutions like the Power Station of Art and the Yuz Museum,” says Joseph Back. However, the inaugural exhibition by Chinese artist Xu Zhen hit a snag: several works were censored by local authorities for “subversive content.”

This experience highlights the challenges Western galleries face in China. “You have to anticipate sensitive topics and adjust your programming accordingly,” warns an art dealer based in Shanghai. “Political themes, explicit nudity, and government criticism are absolute no-gos.”

To circumvent these obstacles, some galleries focus on Chinese artists already established internationally, like Zeng Fanzhi or Zhang Xiaogang. “These artists have the advantage of being recognized both in China and abroad, which eases sales,” explains Parisian gallerist Nathalie Obadia, who regularly organizes exhibitions in Shanghai.

Another effective strategy is collaborating with local institutions to gain legitimacy. In 2023, Galerie Marian Goodman co-organized an exhibition of French artist Pierre Huyghe with the Power Station of Art, attracting over 50,000 visitors.

05The keys to a successful expansion: logistics, team, and network

Opening a gallery in Asia isn’t something you improvise. “You need to budget two to three times more than for a European expansion,” warns Parisian gallerist Thaddaeus Ropac. Real estate costs in Hong Kong or Shanghai can reach €1,000/m² annually, compared to €300/m² in Paris.

Logistics present another major challenge. “Shipping artworks to China is particularly complex due to customs duties and strict controls,” explains an art shipping expert. “Many galleries use freeports like Singapore’s to avoid import taxes.” French galleries also rely on temporary storage in Hong Kong to facilitate transactions with Chinese collectors.

Hiring a competent local team is crucial. “We recruit bilingual staff who understand both French artists’ expectations and Asian collectors’ needs,” says Joseph Back of Galerie Perrotin. In Shanghai, the gallery even hired a former curator from the Power Station of Art to oversee programming.

Building a local network takes time. “You need to participate in major events like Art Basel Hong Kong, West Bund Art & Design in Shanghai, or KIAF in Seoul,” advises Parisian gallerist Almine Rech. “But it’s just as important to engage in more discreet initiatives, like collectors’ dinners or private studio visits with local artists.”

06Adapting programming to local tastes: what works (and what doesn’t)

French galleries that thrive in Asia are those that tailor their offerings to local preferences. “In China, collectors favor monumental works and established artists,” observes a Shanghai-based art dealer. “In contrast, Japanese collectors seek unique pieces and works on paper.”

Galerie Perrotin has adjusted its programming by city. In Shanghai: exhibitions of Chinese artists like Xu Zhen or Chen Fei, featuring large-scale works. In Tokyo: a focus on Japanese artists like Takashi Murakami or Yayoi Kusama, with limited editions. In Seoul: a mix of emerging Korean artists and established Western names.

Another strong trend is the enthusiasm for digital works and NFTs. “Asian collectors, especially younger ones, are very open to new technologies,” notes Parisian gallerist Chantal Crousel. Her gallery organized an exhibition of French artist Pierre Huyghe in Seoul in 2023, including several generative works and NFTs.

Some topics remain taboo, however. “In China, you must avoid political themes or overly explicit depictions of sexuality,” explains a Shanghai-based gallerist. “Even established Western artists like Jeff Koons have faced censorship issues with certain works.”

07The role of art fairs: Art Basel Hong Kong and its alternatives

Art fairs are indispensable tools for French galleries looking to break into Asia. Launched in 2013, Art Basel Hong Kong has become the continent’s must-attend event. “In 2024, 62% of visitors were Asian, up from just 38% in 2019,” reveals the fair’s annual report.

Parisian gallery Thaddaeus Ropac has participated in Art Basel Hong Kong since its inception. “It’s an opportunity to meet collectors from around the world, but especially to connect with Asian buyers,” explains director Benoît Templon. In 2023, the gallery sold several works by Georg Baselitz to Chinese collectors during the fair.

Other events are gaining traction. West Bund Art & Design in Shanghai: increasingly popular with international collectors, though more focused on Asian galleries. KIAF in Seoul: Korea’s main art fair, drawing over 80,000 visitors annually. Art Fair Tokyo: a more intimate event, ideal for meeting Japanese collectors.

“French galleries should diversify their presence by attending multiple fairs to reach different audiences,” advises Sophie Makariou. “Art Basel Hong Kong attracts international collectors, while West Bund or KIAF help connect with local buyers.”

08Building lasting partnerships: the secret of successful galleries

The most established French galleries in Asia are those that have forged strong ties with local players. “It’s not just about selling artworks—it’s about integrating into Asia’s artistic ecosystem,” explains Parisian gallerist Nathalie Obadia.

Galerie Perrotin has developed several strategic partnerships. With Seoul’s MMCA to co-organize exhibitions. With Tokyo’s Mori Art Museum for artist residencies. With Shanghai’s Power Station of Art for research projects.

Another example: Galerie Marian Goodman collaborated with Shanghai’s Yuz Museum for a 2023 exhibition of French artist Pierre Huyghe. “Such partnerships boost visibility and credibility with local collectors,” explains director Philippe Vergne.

Collaborations with Asian artists are also key. “We work with several Korean artists like Lee Bul and Kimsooja, who help us understand local market expectations,” says Joseph Back of Galerie Perrotin. These artists often act as ambassadors, facilitating connections with collectors and institutions.

Some galleries also invest in educational programs to attract young collectors. “We organize guided tours and lectures in collaboration with local universities,” explains Parisian gallerist Chantal Crousel. “It’s a long-term investment that pays off.”

09Pitfalls to avoid: common mistakes of French galleries in Asia

Despite the opportunities, many French galleries have failed in their Asian expansions. “The most frequent mistakes stem from a lack of understanding of local cultural codes,” observes a consultant specializing in the Asian art market.

First pitfall: underestimating the importance of personal relationships. “In Asia, purchasing decisions often happen after long informal discussions—over dinner or a glass of soju,” explains a Seoul-based art dealer. “Galleries that merely present their works without building human connections rarely succeed.”

Another common error: ignoring differences between Asian markets. “What works in Shanghai won’t necessarily work in Tokyo or Seoul,” warns Sophie Makariou. “Each city has its own codes, collectors, and institutions.”

Misunderstanding local regulations can also be costly. “In China, import duties on artworks can reach 17%, and controls are strict,” explains an art shipping expert. “Galleries that don’t account for these extra costs risk eroding their margins.”

Finally, some galleries make the mistake of imposing their Western model without adaptation. “Asian collectors have different expectations regarding service, packaging, and even communication,” notes a Hong Kong-based gallerist. “You have to be willing to rethink certain aspects of your operations to fit the local market.”

10The future of the Asian market: trends and prospects for French galleries

Asia’s art market continues to evolve rapidly, offering new opportunities for French galleries. “The coming years will see the rise of new cities like Chengdu, Busan, or Jakarta,” predicts Parisian gallerist Thaddaeus Ropac.

Asian collectors are showing growing interest in. Digital works and NFTs, particularly popular with younger buyers. Emerging Asian artists, supported by local institutions like the Mori Art Museum or MMCA. Collaborative projects between Western and Asian artists.

“French galleries that succeed in Asia will be those that anticipate these trends while maintaining strong ties with traditional collectors,” estimates Sophie Makariou.

Another major challenge is the impact of Chinese regulations on the art market. “The 2021 Data Security Law complicates online transactions and restricts access to Western platforms,” explains a Shanghai-based expert. “Galleries must adapt their sales tools to comply with these new rules.”

Despite these hurdles, Asia’s potential remains vast. “With a rapidly expanding middle class and a growing number of wealthy collectors, Asia represents the future of the art market,” concludes Joseph Back of Galerie Perrotin. “French galleries that adapt to these local realities will have every chance of success.”