Stephen Lee

Date of Award


Document Type

Thesis - Restricted Access (SIA Only)

Degree Name

Master of Arts (MA)


Art Business

First Advisor

Maria Sancho Arroyo

Second Advisor

Betsy Thomas


Over the last few decades, the Korean art market has undergone a significant
transformation driven by economic growth, cultural popularization, and the involvement of major South Korean corporations. This thesis situates its analysis within the historical context of Korea’s economic ascent and the growing global interest in Korean culture. By examining the art markets dynamics and the role that major conglomerates play within the Korean art ecosystem, the study explores how these forces have shaped and developed the overall trajectory of the Korean art market. Furthermore, the study looks to shed light on how corporate influence and soft power work in tandem to drive a continuous cycle that not only nurtures the Korean art market, but Korea’s global presence.