Once an exclusive property of the rich, art works now have become for all to collect. What is more, there arises an increasing number of people involved in art tech regardless age. South Korea＊s income tax on art works also play encouraging as it is categorized in other income tax since 2021. On top of this, an art work can be an inheritance tax either private or corporate. This means that the role of the experts in art tech has become more important than ever. Introducing on this page is an art tech and consulting experts group Shah Art Company. Under the leadership of Jinhee Park, the company has built a strong presence in the field, starting to attract attention from the art market recently.

CEO Park majored in fine art and has proven ability to find good art works. She is credited for giving in-depth analysis on each work and its potential to be huge in the market. 

American artist Kiki Smith is famous for building her unique art world crossing the border between genres and media. Another American artist Frank Stella is best known for his geometric patterns and shapes in minimalism. Park started collecting their works 10 years ago. The excellent artistry and historical value of the works have raised the price now, and Park sold some of the works to cover the tax when her parent’s business faced tax audit.

Many of these experiences have equipped her with a birdeye view on the structure, trend, distribution, price settlement, collection and consulting in the art market as a whole. Gathering all her knowledge and knowhow, and above all, with her passion in art, Park established Shah Art Company in 2021 in Changwon, the hub city of Gyeongsang Province.

Collaboration with art, culture, law and tax experts

Best solution for art consulting, investing, owning and taxing

Shah Art Company offers various services relating to art: collection, consulting, projects, bestowal, inheritance, preservation, investment and taxing. The projects covers various exhibitions of artists and art organizations home and abroad with focus on futuristic works. The consulting is collaborated with experts in art, culture, law and tax to provide the best solution for clients private or corporate. All process in the buying and seeling an art work is thoroughly managed by Shah Art Company from contemporary to wellknown art works. For individual clients, the company provides information about the art work. For corporations, the company uses the art work to raise brand image and manages all the process of bringing in and out of the work home and abroad such as packaging, taxing and insurance.

Art seminars to build asset portfolio and concept of collection

Shah Art Company’s art seminars help clients build asset portfolio and concept of collection. This involves art history, information about valuable art works and the market. Experts in art, tax, stock, real estate, insurance are invited to the seminars to help the clients build art works as a stable asset. Alongside the seminars, Shah Art Company runs a number of art projects to support new artists. And this is part of practicing Mécénat, a support given by a patron. Some of the works of the in-house artists of Shah Art Company is exhibited in the office of the company for discussion and education while the works of new artists are displayed in the Shah Gallery for the collectors and the public to see. As the company’s awareness increases, well-to-do people as far as Seoul, Daegu and Busan pay a visit in seeking of an advice from Park.

“They often seek an advice on purchasing a work as a promising investment and I feel a great responsibility to meet their wants. And this makes me push myself harder especially in reading the art market now” says Park.

“Trust is most important when it comes to art dealing. I believe that I’m a few of those who have run an art consulting firm that have experience, knowledge and ability in this field. I myself am a collector and I know how to make it an asset to invest, and I was the first who paid an art work for a tax in the region where I lived. So I know how it’s done and I can help them who need it. This I think has built trust between I and my clients as well as collaboration with experts in each necessary field.”

Making a contribution to promoting art market in Changwon was another reason that Park established her business in the city. Also as part of this, she has run a child counseling and development center Small Garden Story for 6 years to fulfill her corporate responsibility. The center runs treatment programs for children with developmental disabilities such as  language, rehab, psychology and sensory therapy. For this, she received a mayor’s citation at the 17th Masan Welfare Promotion Competition for the Physically Disabled in 2020.

Art investment needs advice from experts

“A good art investment involves finding works with historical background and holding them for a long time. On the flip side, it takes a long time to harvest the fruits and it comes with a risk. But one thing is for sure: the longer you keep a good art work, the more profit you will harvest. This is the point where you need an advice or two from an expert in the field. If you own a good art work, it will make you feel proud at first. Then when the value goes up high, you can sell it to harvest your investment.” advises Park.