Two Korean entrepreneurs – Kim Woong-ki and Seo Kyung-bae -- were listed on the annual Top 200 Collectors list published by ARTnews for its 2023 edition.

Kim, chairman of Global Sae-A Group, an apparel manufacturing conglomerate, became known in the global art scene when it was revealed in 2022 that Kim was the winning bidder for modern art master Kim Whan-ki’s painting titled "Universe 5-IV-71 #200" at a Christie’s Hong Kong auction in 2019. It marked the highest price fetched by a Korean artist at an auction at that time.

Seo who owns the country’s largest cosmetics firm, Amorepacific, is a passionate art collector. The company runs Amorepacific Museum of Art at its headquarters building in Yongsan-gu, Seoul designed by Pritzker Prize winner David Chipperfield. Established in 1979, the museum is dedicated to the research and exhibition of Korean art.