Noh Jae-myung, collector and founder of new international art fair Art OnO, poses with Otani Workshop's 2016 ceramic sculpture and Zandile Tshabalala's "Untitled" (2022) painting at his private art storage space in Sinchon, western Seoul, March 18. Korea Times photo by Shim Hyun-chul

Tucked away in the winding alleyways of Sinchon, a bustling university neighborhood in western Seoul, stands a three-story building with a rather unassuming presence.

But its modest size and somber gray facade belie the visual feast contained within.

Upon entering, visitors are engulfed by a whirlpool of unexpected shapes and colors emanating from every corner. Immediately meeting their gaze is an enigmatic bust of what appears to be a half-human, half-rabbit figure. Nearby rests a spectral shell of waxen legs sprawled upon an equally hollow daybed. On the wall hangs a 2-meter-long canvas filled with drippy pink brushstrokes and braids of synthetic hair.

These whimsically grotesque and downright bizarre sculptures and paintings epitomize the collection of nearly 300 artworks amassed by 33-year-old Noh Jae-myung over the last 15 years.

Noh's private art storage, housing such a treasure trove, has turned into an unofficial gathering spot frequented by gallerists, museum patrons, art world professionals and fellow collectors from around the globe who journey to Korea to witness firsthand its burgeoning cultural scene.

The vast majority of pieces in his collection are by emerging contemporary artists — Richard Kennedy, Marc Padeu, Choi Ji-won, Rebecca Ackroyd and Megan Rooney, to name but a few — who have caught his attention during visits to galleries and art fairs in Miami, Basel, Hong Kong, Tokyo and Seoul.

In fact, in his trove, it is rare to encounter blue-chip names commonly sought after by longtime art enthusiasts in Korea.

There's a reason Noh gravitates toward emerging talents.

"What I find most fascinating is the enormous potential for change in these artists. Some evolve their practice into something entirely unexpected in just a few years, while others are not as fortunate, experiencing a decline in the quality of their work or quitting altogether," he told The Korea Times in a recent interview at his storage space. "I am more than willing to observe these transformations unfold over time."

In his eyes, it is crucial to discover rising artists whose works may lack the technical finesse of their more seasoned counterparts yet still manage to have a solid, tangible presence when displayed in exhibitions, thus effectively filling the given space.

On a personal level, it intrigued him as a young collector to come across his contemporaries with different life experiences from his own. Many pieces in his vault hail from LGBTQ+ artists and creatives of color, offering him a window into their worlds and enhancing his understanding of others.

"While it's certainly great to admire the works of established masters, many of them feel distant to me like they belong in a museum. Seeing young contemporary artists from such diverse backgrounds, on the other hand, actually made me curious about their lives [that fueled their creative pursuits]," he explained. "I believe art has helped me become a more empathetic person."

The whimsically bizarre sculptures and paintings — clockwise from left, Nicholas Grafia's "The Trial Lounge" (2020), Anton Munar's "Con Lluvia y Luna" (2021–22) and Rebecca Ackroyd's "Direct Lines" (2019) — epitomize the trove of nearly 300 artworks amassed by Noh Jae-myung and his wife, Park So-hyun, in their collecting journey. Korea Times photo by Shim Hyun-chul

Noh's collecting journey began during his high school years in the United States, when he, alongside his friends, dove into the art world through American artist KAWS' limited-edition art toys. By saving up his allowance, he expanded his trove of relatively affordable editions and prints little by little.

Although he grew up watching his mother assume the role of a patron of regional artists in Korea, it wasn't until his senior year in college that he himself started purchasing original works aligning with his tastes.

"I've always believed that if I simply followed in the footsteps of someone else, I would only become a lesser version of them, at best. So, I decided to do things my own way," he said. "I spent a lot of time attending exhibitions and studying artworks — even more than I did for my major."

He found himself drawn to pieces that appeared utterly bizarre and disorderly, yet "uniquely fun" — a stark contrast to his own disciplined personality. What motivated the artists to produce such things? And what else could they do? These questions drove him to trace their creative development over the years, which often took dynamic turns, much to his pleasant surprise.

"Just five or six years ago, the most common question I was asked was, 'Why in the world do you buy these kinds of works? Why take the risk?' But now, that question has evolved into, 'Where can I acquire these pieces?'"

Simon Fujiwara's "It's a Small World (Bank)" (2019), front, and Richard Kennedy's "Pop Your Head Cassie" (2021) in Noh Jae-myung's collection / Korea Times photo by Shim Hyun-chul

The Korean art market experienced an unprecedented boom since the COVID-19 pandemic, with art sales surpassing the 1 trillion won ($738 million) mark for the first time in 2022. Despite the current economic slowdown, the country's art scene, fueled by a new wave of young collectors like Noh, is garnering increasing attention from abroad.

This growing cohort of collectors, social media savvy and well-traveled, actively engage in discovering artists by directly reaching out to galleries without relying on third-party advisers or dealers. Unlike their predecessors, they are more transparent about sharing their collecting journey with each other, often city-hopping and attending fairs together.

Noh distinctly senses a shift in attitudes toward art purchases in Korea.

"I think it's becoming a culture on a more mainstream level. Even prior to COVID-19, many viewed that buying art of any kind was a luxury reserved for the affluent. However, in just a few years, there has been a noticeable surge in public interest in the practice," he said.

"That's why I think mega-galleries exclusively handling blue-chip artists may not resonate well in the broader Seoul market. Instead, a more accessible platform with price ranges below a certain threshold could engage a wider pool of new art enthusiasts here."

He cautions prospective collectors against viewing art pieces solely in terms of their monetary worth, as it could fuel unhealthy market speculation in the long run.

"Artworks can fluctuate in value or even lose it altogether. If one becomes too fixated on numbers, it's no different from stocks," he noted. "Rather than making decisions based on hearsay or thinking about selling even before acquiring them, I hope they prioritize experiencing as many well-curated exhibitions as possible and developing an eye for art."

Noh sees that the recent influx of international blue-chip and emerging galleries into Seoul has triggered seismic shifts in the domestic collecting scene.

"With global players entering the Korean scene, local collectors now have more diverse options to explore quality pieces and programs. More importantly, their presence has encouraged domestic audiences to broaden their horizons and discover unfamiliar artists beyond their comfort zone."

Although there are concerns that some international dealers are viewing Korea simply as a new market to tap into without engaging with the local art community, he believes that a more educated collector base would prevent such practices.

"That's a part that falls on consumers. If collectors show interest in assessing whether these galleries are willing to grow together with the domestic scene, then the exhibitors will have to invest in playing that role."

Launching ‘One & Only' art fair in Seoul

An official poster for the inaugural edition of Art OnO, which will kick off on April 18 with a VIP preview / Courtesy of Art OnO

In the art world, it's not uncommon for collectors to transition to dealers or gallerists after years of cultivating relationships with industry professionals, but organizing an entire art fair is a different challenge altogether.

Yet, that's precisely what Noh is undertaking this year.

From April 18 to 21, the inaugural edition of ART OnO, which stands for "One and Only," will take place at the Seoul Trade Exhibition and Convention, or SETEC, in southern Seoul.

Its scale is quite ambitious for the first iteration of an independent fair, bringing together nearly 40 galleries from 15 countries, with more than half from outside of Korea. The roster is notably diverse, featuring blue-chip dealers like Esther Schipper and Galerie Chantal Crousel alongside smaller, fast-growing exhibitors such as Chicago-based Mariane Ibrahim Gallery and Seoul-based ThisWeekendRoom and P21.

And several international dealers are making their first forays into the country through the event, including Nicolas Krupp from Basel and Gathering from London.

But does Seoul really need another art fair, given that there were 71 mega and boutique fairs hosted across the country in 2022 alone, according to the Korea Art Market 2023 report?

Noh believes there is still an untapped niche, even within this seemingly saturated market.

Having attended a dozen such events worldwide as a collector, he felt that "fair fatigue" was indeed real.

"When I visit art fairs, I often encounter the same participating galleries in different cities. The issue arises when both the galleries and the artists they showcase in their booths are nearly identical. It's just more of the same, regardless of where I am," he said.

Several sales-oriented factors make it harder for fresh works to pop up at fairs, according to the 33-year-old.

"It's risky for blue-chip dealers to promote emerging and experimental pieces, especially at mega shows, where all the other influential galleries are presenting their usual six-figure star artists. And smaller galleries willing to do something different often find themselves priced out of these events due to high booth fees and operational expenses."

Noh wanted to see an alternative platform where exhibitors could take risks and bring out something genuinely new and offbeat with less emphasis on saleability. That's when he decided to launch his own.

Noh Jae-myung poses with Kim Jin-hee's "Turn on the Light, under the Dawn" (2023) at his private art storage space in Sinchon, western Seoul, March 18. Korea Times photo by Shim Hyun-chul

To make participation more accessible for rising galleries with fresh, quality programs, booth fees at Art OnO are approximately 40 percent lower than those of typical fairs in Korea. Meanwhile, big-name dealers have been encouraged to showcase new names in their roster that they may not have been able to highlight in other events rather than focusing on their usual art fair darlings.

And unlike the majority of other fairs — including Frieze Seoul — which segregate established and young galleries into separate sectors, Art OnO embraces a "mixing it all up" approach.

"I want to see all 40 exhibitors, regardless of their size, showing off their unusual and unique sides next to one another. When galleries with strong identities are mixed together through the space, visitors can choose the ones that suit their taste the best," he said.

Moving forward, Noh envisions his fair as a bridge connecting various parties — between galleries, between for-profit galleries and nonprofit institutions and among private collectors. This vision is reflected in the composition of the event's committees as well: Collectors, Institutions, Selection and OnO.

Particularly noteworthy is the Collectors Committee, as it brings to light the perspective and voice of collectors in shaping the fair. Additionally, the OnO Committee consists of members below the age of 40 to better reflect the trends among the rising group of young art enthusiasts.

"I hope that through Art OnO, people can experience something new and realize that there are many more ways to enjoy art," he said.